Mergers and Acquisitions on Financial Performance and Efficiency: Evidence from Non-Financial Companies Listed in Indonesia Stock Exchange

Al Zabidi, Sarah Saleh Salem and Lingga, Margaretha (2021) Mergers and Acquisitions on Financial Performance and Efficiency: Evidence from Non-Financial Companies Listed in Indonesia Stock Exchange. Bachelor thesis, Swiss German University.

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Abstract

Numbers of M&A transactions in Indonesia and worldwide are increasing over the years. Companies conducted M&A as a growth strategy that in return would benefit them. This research examines whether there is significant difference in financial performance after M&A and whether efficiency improves after M&A. The sample of the study consists of 21 non-financial public companies that conducted M&A during the year 2011 to 2017. Wilcoxon signed rank test and Data Envelopment Analysis are used to process the data. The findings show that ROA, ROE and NPM decrease significantly after M&A. On the other hand, there are no significant differences in CR, DER, TATO and Tobin’s Q after M&A. The result of the DEA for efficiency scores shows that only 8 companies experience an increase in efficiency scores after M&A. While efficiency scores for other 13 companies decrease after M&A. Therefore, this research concludes that efficiency does not improve after M&A.

Item Type: Thesis (Bachelor)
Uncontrolled Keywords: Acquisitions, DEA, Financial Performance, Indonesia, Mergers
Subjects: H Social Sciences > HF Commerce > HF5001 Business
H Social Sciences > HG Finance > HG1722 Bank mergers
H Social Sciences > HG Finance > HG4551 Stock exchanges
Divisions: Faculty of Business Administration and Communication > Department of Business Administration
Depositing User: Faisal Ifzaldi
Date Deposited: 29 Dec 2021 15:06
Last Modified: 29 Dec 2021 15:06
URI: http://repository.sgu.ac.id/id/eprint/2249

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