Comparing The Financial Performance of Indonesian Acquired Firms Listed in IDX

GO, MARVEL GUNAWAN, and NATALIA, VICENCIA GIOVENNA and Linawati, Nanik (2023) Comparing The Financial Performance of Indonesian Acquired Firms Listed in IDX. In: International Conference on Economy, Management, and Business (IC-EMBus), 23-11-2023 - 23-11-2023, Bangkalan - Indonesia.

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Abstract

This research aims to examine the impact of mergers and acquisitions on the financial performance of acquired companies. Financial performance is measured by operational performance variables using Operating Profit Margin, profitability variables measured by Return On Assets, Return On Equity, and Net Profit Margin, and stock return variables using indicators such as Earnings Per Share, Book Value Per Share, and Dividend Yield. The research sample consists of eighty-five companies listed on the Indonesia Stock Exchange that engaged in mergers and acquisitions from 2015 to 2021. The data obtained was analyzed using the Wilcoxon signed-rank test to measure the difference in the average values between one year before and one year after the merger and acquisition, using the statistical software SPSS 29. The research results indicate that there is a significant difference one year before and one year after the merger and acquisition in the average values of operational performance variables with the Operating Profit Margin indicator, profitability variables with Return On Assets, Return On Equity, Net Profit Margin, and stock return variables with the Book Value Per Share indicator.

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