PENGAKUISISI SEBELUM DAN SESUDAH MERGER DAN AKUISISI YANG
TERDAFTAR DI BURSA EFEK INDONESIA
TAHUN 2008-2009
ANNISA META.CW
Jurusan Manajemen
Dosen Pembimbing: Drs.H.Prasetiono MS.i
ABSTRACT
The purpose of this study was to obtain empirical evidence of whether the acquirer
conduct earnings management prior to the implementation of mergers and acquisitions. Also
aims to determine changes in the acquirer's financial performance before and after mergers and
acquisitions.
Earnings management by firms is to proxy discretionary accrual (DA). Then for the
measurement of company performance measured by financial ratios include total asset turn
over, net provit margin,and return on asset. The analysis was done by using independent sample
t-test and paired sample test.
The results shows that there is an indication of earnings management done by taking over
companies before mergers and acquisitions by utilizing income increasing accruals.
Furthermore, the company's financial performance as measured by total asset turnover ratio has
increased after the merger and acquisition, while net profit margin and return on assets has
decreased after the mergers and acquisitions.
Keywords : merger, acquisition, earnings management, performance
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