Analisis Perbandingan Kinerja Keuangan Perusahaan Sebelum Dan Sesudah Akuisisi (Studi Pada Perusahaan Telekomunikasi yang Terdaftar di Bursa Efek Indonesia Periode 2010 – 2016)

Nurkholis, Mokhamad (2018) Analisis Perbandingan Kinerja Keuangan Perusahaan Sebelum Dan Sesudah Akuisisi (Studi Pada Perusahaan Telekomunikasi yang Terdaftar di Bursa Efek Indonesia Periode 2010 – 2016). Sarjana thesis, Universitas Brawijaya.

Abstract

Nilai tambah yang akan diperoleh perusahaan setelah melakukan akuisisi merupakan alasan dasar yang membuat perusahaan tersebut melakukan akuisisi. Fenomena akuisisi pada era sekarang ini, khususnya di Indonesia sedang berada pada puncak pertumbuhan yang tinggi, seperti yang di lansir oleh www.kppu.go.id, sejak berlakunya Peraturan Pemerintah Republik Indonesia Nomor 57/2010 Pasal 1 tentang Penggabungan atau Peleburan Badan Usaha dan Pengambilan Saham Perusahaan yang Dapat Mengakibatkan Terjadinya Praktik Monopoli dan Persaingan Usaha yang Tidak Sehat, fenomena merger dan akuisisi di Indonesia mengalami peningkatan yang signifikan pada tahun 2010/2011. Persaingan antara perusahaan telekomunikasi di Indonesia yang sangat kuat dan ketat, yang mana persaingan ini tidak hanya sekedar fokus pada service provider saja. Langkah untuk melakukan akuisisi telah diterapkan oleh beberapa perusahaan telekomunikasi, yaitu PT. XL Axiata Tbk, PT. Telekomunikasi Indonesia Tbk. Penelitian ini menggunakan rasio keuangan yaitu rasio likuiditas, leverage, aktivitas, dan profitabilitas serta dilakukan uji normalitas dan uji beda t. Penelitian ini bertujuan untuk mengetahui perbedaan kinerja keuangan perusahaan antara sebelum dan sesudah akuisisi berdasarkan rasio likuiditas, rasio aktivitas, rasio leverage dan rasio profitabilitas. Jenis penelitian ini adalah penelitian deskriptif dengan pendekatan yang bersifat kuantitatif, sampel yang digunakan dalam penelitian ini sebanyak dua perusahaan yang terdaftar di Bursa Efek Indonesia dan melakukan akuisisi yang telah menerbitkan laporan keuangan dari periode 2010 - 2016. Analisis data yang digunakan dalam penelitian ini adalah rasio keuangan, uji normalisasi, dan uji beda t. Hasil dari penelitian ini yaitu hasil uji beda dari keseluruhan rasio keuangan PT. Telekomunikasi.,Tbk yang digunakan untuk membandingkan kinerja keuangan perusahaan sebelum dan sesudah akuisisi menunjukkan bahwa hasil dari sebagian besar uji beda memperoleh nilai signifikasi yang lebih besar dari tingkat signifikansi 0,05. Sehingga dari hasil pengujian tersebut dapat diketahui bahwa perbandingan kinerja keuangan perusahaan sebelum dan sesudah akuisisi memperoleh hasil perbedaan yang tidak signifikan antara sebelum dan sesudah melakukan akuisisi dengan tingkat kesalahan sebesar 0,05. Sedangkan, hasil uji beda dari keseluruhan rasio keuangan PT. Xl Axiata.,Tbk yang digunakan untuk membandingkan kinerja keuangan perusahaan sebelum dan sesudah akuisisi, sebagaimana pembahasan yang sebelumnya, menunjukkan bahwa hasil dari sebagian besar uji beda memperoleh nilai signifikasi yang lebih kecil dari tingkat signifikansi 0,05. Sehingga dari hasil pengujian tersebut dapat diketahui bahwa perbandingan kinerja keuangan perusahaan sebelum dan sesudah akuisisi terdapat perbedaan yang signifikan antara sebelum dan sesudah melakukan akuisisi dengan tingkat kesalahan sebesar 0,05.

English Abstract

The added value that a company will acquire after acquisition is the basic reason that the company makes the acquisition. The phenomenon of acquisition in the current era, especially in Indonesia is at the peak of high growth, as reported by www.kppu.go.id, since the enactment of Government Regulation No. 57/2010 Article 1 concerning Merger or Consolidation of Business Entities and Company's Shares That Can Result Monopolistic Practices and Unfair Business Competition, the phenomenon of mergers and acquisitions in Indonesia has increased significantly in 2010/2011. Competition between telecommunication companies in Indonesia is very strong and tight, which is not only focus on service providers only. Steps to perform the process that has been done by some telecommunication companies, namely PT. XL Axiata Tbk, PT. Telekomunikasi Indonesia Tbk. This research uses financial ratios that is the ratio of liquidity, leverage, activity, and profitability and tested normality and different test t. This research is intended to know the difference of performance. Liquidity ratio, activity ratio, leverage ratio and ratio. The type of this research is descriptive research with quantitative approach, the sample used in this research are two companies listed in Indonesia Stock Exchange and do the acquisition that has been published financial report period 2010- 2015. Data analysis used in this research is financial ratio , normalization test, and different test t. The result of this research is the difference test result from the overall financial ratios of PT. Telekomunikasi., Tbk used to compare the financial performance of the company before and after the acquisition shows the results of most different test result greater significance value than the level of significance 0.05. The results of the test results can be seen comparison of financial results of the company before and after the acquisition is not significant between before and after the acquisition with a fault rate of 0.05. While, Different test results from the overall financial ratios of PT. Xl Axiata., Tbk used to compare the company's financial performance before and after the acquisition, the previous discussion, shows the results of most test different value results that are smaller than the 0.05 level of significance. The results of this experiment can be seen the comparison between the performance that occurred between before and after the acquisition with a fault rate of 0.05.

Item Type: Thesis (Sarjana)
Identification Number: SKR/FIA/2018/165/051803459
Uncontrolled Keywords: Akuisisi, Rasio Likuiditas, Rasio Aktivitas, Rasio Leverage, Rasio Profitabilitas, Uji Normalitas, Uji Beda t
Subjects: 600 Technology (Applied sciences) > 658 General management > 658.1 Organization and financial management > 658.15 Financial management > 658.152 Management of financial operations
Divisions: Fakultas Ilmu Administrasi > Ilmu Administrasi Bisnis / Niaga
Depositing User: Yusuf Dwi N.
Date Deposited: 03 May 2018 06:00
Last Modified: 26 Oct 2021 05:48
URI: http://repository.ub.ac.id/id/eprint/10183
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