Analisis Perbandingan Abnormal Return dan Risiko Sebelum dan Sesudah Merger dan Akuisisi

Iskandar, Litaniar Qonakis (2015) Analisis Perbandingan Abnormal Return dan Risiko Sebelum dan Sesudah Merger dan Akuisisi. S1 thesis, Universitas Pendidikan Indonesia.

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Official URL: http://repository.upi.edu

Abstract

Merger dan akusisi merupakan langkah yang dilakukan perusahaan untuk mempertahankan eksistensinya dalam persaingan bisnis yang semakin kompetitif.. Penelitian ini bertujuan untuk memperoleh gambaran mengenai perbedaan abnormal return dan risiko investasi sebelum dan sesudah merger dan akuisisi. Penelitian ini dilakukan dengan menggunakan periode pengamatan 10 hari sebelum dan 10 hari sesudah merger dan akuisisi. Metode penelitian yang digunakan dalam penelitian ini adalah deskriptif dan verifikatif, dimana pengujian hipotesis dilakukan dengan menggunakan uji beda paired sample t-test. Data yang digunakan dalam penelitian ini adalah data sekunder yang diperoleh dari BEI tahun 2012, meliputi tanggal pengumuman merger dan akuisisi, harga saham penutupan, IHSG, BI Rate selama periode pengamatan. Sampel yang digunakan berjumlah 20 perusahaan, yaitu 6 perusahaan akuisisi dan 14 perusahaan merger selama tahun 2012 dan terdaftar di BEI. Hasil penelitian ini menunjukkan bahwa tidak terdapat perbedaan pada abnormal return sebelum dan sesudah merger dan akuisisi, begitu juga dengan risiko investasi yang menunjukkan tidak terdapat perbedaan sebelum dan sesudah merger atau akuisisi. Kata kunci : Merger, Akuisisi, Abnormal Return, Risiko. Merger and acquisition one of decision that can be taken by the company to obtain company existence in business competition that become increasing. This research was to obtain a desciption on the differences of abnormal return and investment risk before and after mergers and acquisitions. This research was using the 10-day before and 10 days after mergers and acquisitions observation period . The method used in this research is descriptive and verification, and the hypothesis test is done by using paired sample t-test. The data used in this research is secondary data obtained from the Stock Exchange in 2012, includes the date of the announcement of merger and acquisition,closing stock price,Composite Stock Price Index,BI rate during the observation period. The sample was 20 companies,which is 6 company acquisitions and 14 companies of mergers during in 2012 and listed on the Stock Exchange. The results of this research indicate that there is no differences in abnormal returns before and after merger and acquisition, as well as investment risk showed that there are no difference before and after the merger or acquisition. Keywords: Merger, Acquisition, Abnormal Return, Risk.

Item Type: Thesis (S1)
Additional Information: No. Panggil: S_PEM_ISK a-2015; Pembimbing : I. Budhi Pamungkas G
Uncontrolled Keywords: Merger, Akuisisi, Abnormal Return, Risiko.
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
Divisions: Fakultas Pendidikan Ekonomi dan Bisnis > Manajemen (non kependidikan)
Depositing User: DAM staf
Date Deposited: 21 Apr 2015 02:05
Last Modified: 21 Apr 2015 02:05
URI: http://repository.upi.edu/id/eprint/14376

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