Perbedaan kinerja keuangan industri manufaktur yang melakukan akuisisi periode 2000-2003. [CD-ROM]

Alihadi, Monica (2008) Perbedaan kinerja keuangan industri manufaktur yang melakukan akuisisi periode 2000-2003. [CD-ROM]. Masters thesis, Widya Mandala Catholic University Surabaya.

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Abstract

This research investigates the conceptual arguments that acquisition will create better performance sometimes after acquisition take place. Variable that will be tested are: 1) net profit margin, 2) asset turnover, 3) abnormal asset turnover, 4) asset growth, and 5) current ratio. Then, we adjust each of these variable with their industry which is then be calculated performance. Those variables then be computed using t-test the hypotesis. The result for the hipothesis are : 1) for the period (-1,+1) and (-1,+2), significant differences appear on sales growth and asset growth, 2) for the period (-1,+3), significant differences appear only for sales growth. Our comparison result shows that almost all variables differences decline after acquisition, except for variable current rasio, which increase on periode (-1,+3). According to the empirical evidence from this research, sample firms which conducted acquisition can not show better performance. Based on the fact, that the acquirer translate synergy as making huge cost cut (downsizing, restructuring, and reorganizing), this decision may bring benefit for short term, but in the long run, it can bring disadvantage for the firm (performance decline).

Item Type: Thesis (Masters)
Uncontrolled Keywords: Acquisition, Synergy, Performance.
Subjects: Business > Management
Divisions: Graduate School > Master Program in Management
Depositing User: Operator 2 Student Staff
Date Deposited: 06 Jan 2015 04:44
Last Modified: 09 Feb 2015 09:02
URI: http://repository.wima.ac.id/id/eprint/290

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