JRAA Vol.2 No.3, November 2015 UJI KOMPARASI PROFITABILITAS, EARNING PER SHARE DAN ABNORMAL RETURN SAHAM SEBELUM DAN SESUDAH PERISTIWA MERGER ATAU AKUISISI:

Michelle Kristian Universitas Tarumanagara; Stepphira Christa Bella Universitas Multimedia Nusantara

Michelle Kristian Universitas Tarumanagara
Stepphira Christa Bella Universitas Multimedia Nusantara

Keywords: merger, acquisition, profitabily, return on assets, return on equity, profit margin, earning per share, and abnormal return

Abstract

This research aimed to examine the eff ect of merger and acquisition on acquirer companies’s profitability, earning per share and abnormal return at Indonesia Stock Exchange. Profitability is measured using return on assets, return on equity and profit margin of the companies. This reseach uses company’s data from Indonesia Stock Exchange which done merger and acquisition at time line 2008-2012. Sampling method applied in this research is purposive sampling, which there are 30 acquirer companies entering in this research criteria. Data analysis use nomality kolmogorov smirnov data method, difference test use paired sample t-test. While to analysis abnormal return by event study analysis using market model. Result from test indicated there’s no existence of difference which significance for profitability that measured by using return on assets, return on equity and profit margin, earning per share and abnormal return.