MERGER & AKUSISI DAN KINERJA PERUSAHAAN
Abstract
The purpose of this paper is to analyse the effect of merger & acquisition (M&A) on firm performance. This type of research is quantitative and multiple linear regression as the method. This research used 88 observations of non-financial companies who did M&A and listed on the IDX (Indonesia Stock Exchange) during 2010 until 2015. Firm fermormance as measured by ROA (return on asset) as the dependent variable in this study. M&A as independent variable in this study. This research results indicated that M&A has a significant negative effect on company performance.
References
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Bhaumik, S. K., & Selarka, E. (2012). Does ownership concentration improve M&A outcomes in emerging markets? Evidence from India. Journal of Corporate Finance, 18(4), 717–726. https://doi.org/10.1016/j.jcorpfin.2012.04.001
Fitriani, I., Zulkarnaen, W., Sadarman, B., & Yuningsih, N. (2020). Evaluasi Kinerja Distribusi Logistik KPU Jawa Barat Sebagai Parameter Sukses Pilkada Serentak 2018. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 4(2), 244-264. https://doi.org/10.31955/mea.vol4.iss2.pp244-264Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. The American Economic Review, 76(2), 323–329.
Maryanti, D., Siregar, H., & Andati, T. (2017). Perbandingan Kinerja Keuangan Perusahaan Perkebunan Sebelum dan Setelah Akuisisi. Jurnal Manajemen Dan Agribisnis, 14(2), 92–102. https://doi.org/10.17358/jma.14.2.92
Setiawan, R. (2015). Masalah Agensi Free Cash Flow Dan Perilaku Moral Hazard. The 7th NCFB and Doctoral Colloquium 2014, 2015, 217–225.
Setiawan, R., & Sudiro, K. (2019). Struktur modal dan profitabilitas perusahaan anggota holding PT Pu[uk Indonesia (Persero). Jurnal Ekonomi Dan Bisnis, 23(1), 37–46.
Shleifer, A., & Vishny, R. W. (1988). Value Maximization and the Acquisition Process. Journal of Economic Perspectives, 2(1), 7–20.
Sudana, I. M. (2015). Teori & Praktik Manajemen Keuangan Perusahaan Edisi 2. Airlangga.
Bhaumik, S. K., & Selarka, E. (2012). Does ownership concentration improve M&A outcomes in emerging markets? Evidence from India. Journal of Corporate Finance, 18(4), 717–726. https://doi.org/10.1016/j.jcorpfin.2012.04.001
Fitriani, I., Zulkarnaen, W., Sadarman, B., & Yuningsih, N. (2020). Evaluasi Kinerja Distribusi Logistik KPU Jawa Barat Sebagai Parameter Sukses Pilkada Serentak 2018. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 4(2), 244-264. https://doi.org/10.31955/mea.vol4.iss2.pp244-264Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. The American Economic Review, 76(2), 323–329.
Maryanti, D., Siregar, H., & Andati, T. (2017). Perbandingan Kinerja Keuangan Perusahaan Perkebunan Sebelum dan Setelah Akuisisi. Jurnal Manajemen Dan Agribisnis, 14(2), 92–102. https://doi.org/10.17358/jma.14.2.92
Setiawan, R. (2015). Masalah Agensi Free Cash Flow Dan Perilaku Moral Hazard. The 7th NCFB and Doctoral Colloquium 2014, 2015, 217–225.
Setiawan, R., & Sudiro, K. (2019). Struktur modal dan profitabilitas perusahaan anggota holding PT Pu[uk Indonesia (Persero). Jurnal Ekonomi Dan Bisnis, 23(1), 37–46.
Shleifer, A., & Vishny, R. W. (1988). Value Maximization and the Acquisition Process. Journal of Economic Perspectives, 2(1), 7–20.
Sudana, I. M. (2015). Teori & Praktik Manajemen Keuangan Perusahaan Edisi 2. Airlangga.
Published
2021-05-06
How to Cite
Setiawan, R., & Adriani, M. (2021). MERGER & AKUSISI DAN KINERJA PERUSAHAAN. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 5(2), 115-126. https://doi.org/10.31955/mea.v5i2.1018
Section
Articles
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