PERBEDAAN KINERJA KEUANGAN PADA PERUSAHAAN YANG MELAKUKAN MERGER DAN AKUISISI DI BURSA EFEK INDONESIA

This study is aimed at determining whether there is a difference in the financial performance of the merger and acquisition in two year before and two year after doing the merger and acquisition seen from CR, ROA, TATO and DER. In this study, the data used is secondary base. While the population of this study included the public companies listed in Indonesia Stock Exchange which ever did a merger and acquisition in the period of 2010-2013. The sampling method used in this research is purposive sampling, and there are 22 companies included in the study criteria. The analysis method uses to answer the hypothesis is data normality test, discrimination testing of paired sample t-test. The result of paired sample t-test showed a significant difference for three ratio: DER, TATO and ROA whereas there are no significant difference for CR. Keyword: merger, acquisition, financial ratios, financial performanc