MERGER DAN AKUISISI, DAMPAKNYA PADA LIKUIDITAS, PROFITABILITAS, AKTIVITAS, DAN SOLVABILITAS: BUKTI DARI BURSA EFEK INDONESIA

The purpose of this study is to test whether merger and acquisition affect the financial performance of companies in Indonesia by measuring the financial ratios of the companies. The study was conducted on the company listed on Indonesian Stock Exchange which performs merger and acquisition in the year 2012 to 2013. The data observation period is 1 year before merger and acquisition and 4 years after merger and acquisition. Total of sample taken is 25 companies, with purposive sampling approach. The analysis technique used is Wilcoxon Signed Rank Test. The result of this study suggest that the effect of merger and acquisition appears on Profitability Ratio, Solvability Rasio, and Asset Turnover Ratio. The result suggest that there is a significant difference in company financial performance before and after merger and acquisition