Comparative Study of Financial Performance of Issuers on Indonesian Stock Exchange during and after Merger and Acquisition Strategy
DOI:
https://doi.org/10.59653/jbmed.v2i03.932Keywords:
Strategy, Merger and Acquisition, Financial performanceAbstract
The merger and acquisition strategy has become the main choice of large companies in improving their financial performance and improving their position in the market. This study aims to determine the effect of merger and acquisition strategies on the financial performance of companies on the Indonesia Stock Exchange. This study uses a quantitative approach with a population of companies that conduct mergers and acquisitions on the Indonesia Stock Exchange from 2018 to 2022. Data was collected from the company's financial statements and analysis was carried out using financial ratios such as Current Ratio, Total Assets Turnover Ratio, Debt to Equity Ratio, and Return on Equity The results showed that the merger and acquisition strategy had no significant effect on the financial performance of companies on the Indonesia Stock Exchange. This study shows that the merger and acquisition strategy has no significant impact on the financial performance of companies on the Indonesia Stock Exchange.
Downloads
References
Ahmad Sofyan. (2017). ANALISIS PERBANDINGAN KINERJA KEUANGAN PERUSAHAAN SEBELUM DAN SESUDAH AKUISISI PADA PERUSAHAAN YANG TERDAFTAR DI BEI PERIODE 2012-2014. Skripsi.
Bayu Prakoso, R., Andreas, F., & Firmansyah, A. (2023). THE IMPACT OF MERGERS ON COMPANY PERFORMANCES IN THE BANKING SECTOR (Vol. 4, Nomor 2). www.finance.yahoo.com.
Cindy Rafika Andani. (2021). Apa Itu Efisiensi dan Efektivitas Dalam Manajemen ? Jurnal Post.
Citra Nugraheni, P., & Isynuwardhana, D. (2018). DAMPAK MARGER DAN AKUISISI TERHADAP KINERJA PERUSAHAAN (Studi pada Perusahaan yang Melakukan Merger dan Akuisisi dan Terdaftar di BEI pada Tahun 2013) THE IMPACT OF THE MERGERS AND ACQUISITION MERGER TO FINANCIAL PERFORMANCE (Study on Companies Conducting Mergers and Acquisitions and Listed on BEI in 2013).
Dewi, S. L. (2020). ANALISIS PENGARUH MERGER DAN AKUISISI TERHADAP KINERJA KEUANGAN DAN ABNORMAL RETURN PADA PERUSAHAAN DI BURSA EFEK INDONESIA TAHUN 2014-2018. JURNAL MANAJEMEN BISNIS DAN KEWIRAUSAHAAN, 5(1), 34–39.
Dhiya, A. (2021). PENGARUH PENGUMUMAN MERGER DAN AKUISISI TERHADAP HARGA SAHAM PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) TAHUN 2015-2020.
Fahlevi, M., Zuhri, S., Abdi, M. N., Dasih, I., & Maemunah, S. (2020). THE IMPACT OF MERGER AND ACQUISITION ON FINANCIAL PERFORMANCE IN INDONESIA. http://e-journal.stie-kusumanegara.ac.id
Fihri, S. el, Kengelbach, J., Yokotaki, T., Bellaini, S., Pot, L., & Feiger, J. (2023, Oktober 26). The Regional Perspective. Boston Consulting Group.
Friedman, D., Pot, L., Degen, D., Kengelbach, J., Kienburg, G., & Solner, T. (2022). M&A Activity by Year: The BCG M&A Report Collection.
Jallow, M. S., Masazing, M., & Basit, A. (2018). THE EFFECTS OF MERGERS & ACQUISITIONS ON FINANCIAL PERFORMANCE: CASE STUDY OF UK COMPANIES. 5(1). www.ftms.edu.my/journals/index.php/journals/ijabm
Josua Tarigan, P. C. C. C. C., Swenjiadi Yenewan, S., & Grace Natalia, S. (2016). MERGER DAN AKUISISI: dari perspekti f strategis dan kondisi indonesia (Pendekatan Konsep dan Studi Kasus) BONUS: 23 Kasus Utama M&A di Indonesia dan Global.
Jubaedah Nawir, Kevin Christoper, Himawan Rahardika, Rida Anisa Permata, & Helena Olivia Yosih N. (2023). Comparison of financial performance and firm value before and after mergers and acquisitions of non-financial companies in Indonesia. International Journal of Research in Business and Social Science (2147- 4478), 12(3), 318–323. https://doi.org/10.20525/ijrbs.v12i3.2575
Komisi Pengawas Persaingan Usaha. (2022). Daftar Notifikasi Merger. KPPU.
Lin, B. W., Chen, W. C., & Chu, P. Y. (2015). Mergers and acquisitions strategies for industry leaders, challengers, and niche players: Interaction effects of technology positioning and industrial environment. IEEE Transactions on Engineering Management, 62(1), 80–88. https://doi.org/10.1109/TEM.2014.2380822
Lu, R. (2023). Merger and Acquisitions of Internet Companies: A Comprehensive Analysis. Advances in Economics, Management and Political Sciences, 44(1), 221–226. https://doi.org/10.54254/2754-1169/44/20232236
Mashkour, S. J. (2021). The Effect Of Merger And Acquisition On Financial Performance Of Companies In Iraq. Multicultural Education, 7(11). https://doi.org/10.5281/zenodo.5676419
Muhammad, H., Waqas, M., & Migliori, S. (2019). The impact of M&A on bank’s financial performance: Evidence from emerging economy. Corporate Ownership and Control, 16(3), 52–63. https://doi.org/10.22495/cocv16i3art5
Nawawi, I. (2013). GLOBALISASI EKONOMI BISNIS Studi Arus Nalar Pemikiran Bisnis Kompetitif Islam Kontemporer. VOL. 03,(No.2).
Olesia, D., & Zhou, J. (2023). Frontiers in Business, Economics and Management Financial Risks in Mergers and Acquisitions (M&A): A Case Study of SolarCity’s Acquisition by Tesla. Frontiers in Business, Economics and Management, 11(3).
Otoritas Jasa Keuangan (OJK). (2016). PASAR MODAL.
Puspita, G. A., & Yunita, I. (2023). Merger and Acquisition : Do they really creates a synergy effect?
Riadi, M. (2023, November 18). Strategi Bisnis - Pengertian, Aspek, Jenis dan Pelaksanaan. Kajian Pustaka.
Satapathy, D. P., & Kaushik, K. P. (2021). Do Financial Performance Improve after Merger and Acquisition of Acquiring Companies: Evidence from India. The Empirical Economics Letters. https://www.researchgate.net/publication/363738284
Shah, N., & Patel, D. (2023). Financial Management in the New Normal Impact of Merger and Acquisitions on Financial Performance of Selected Healthcare Companies in India. https://www.researchgate.net/publication/374913336
Sulaiman, M. R. (2021). Analisis dampak merger dan akuisisi terhadap kinerja keuangan perusahaan yang terdaftar di Bursa Efek Indonesia. Skripsi.
Widya Rahayu. (2019). Perbandingan Kinerja Keuangan Dan Pasar Sebelum Dan Sesudah Merger Dan Akuisisi Pada Perusahaan Keluarga Yang Listed Di Bursa Efek Indonesia.
Wiendy Indriati. (2018). PENGARUH GOOD CORPORATE GOVERNANCE TERHADAP KINERJA KEUANGAN PERUSAHAAN (Studi Empiris pada Perusahaan Manufaktur Sektor Food and Beverage yang Listing di BEI pada Tahun 2014-2017). Skripsi.
Putri, Vonny. (2013). ANALYSIS OF MERGERS, ACQUISITIONS' IMPACT ON ITS FINANCIAL PERFORMANCE (Case Study on Listed Companies in Indonesia Stock Exchange). Journal
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Adityatama Sudibyo, Aldi Akbar
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
