COMPARATIVE ANALYSIS OF FINANCIAL PERFORMANCE: THE COMPANY GOES PUBLIC BEFORE AND AFTER THE ACQUISITION

Abstrak

This research aims to determine the differences in the financial performance of a company before and after undergoing an acquisition, measured by the current ratio, debt-to-assets ratio, debt-to-equity ratio, net profit margin, return on equity, and total asset turnover. The study was conducted to assess whether acquisition strategies can influence the company's performance, especially in terms of finances. Thus, this research is expected to provide valuable information for company management and other stakeholders in making decisions related to acquisition strategies that may be undertaken in the future. This research utilizes secondary data obtained from www.idx.co.id, with the observation period spanning three years before and three years after the acquisition. Sample selection was conducted using the purposive sampling method and was tested with a paired sample T-test and a Wilcoxon signed rank test using SPSS 20 software. The results of this research indicate that there is no significant difference in the financial performance of the company before and after the acquisition, as measured by the current ratio, debt-to-assets ratio, debt-to-equity ratio, net profit margin, return on equity, and total asset turnover. The results indicate that acquisitions do not always have a significant impact on the financial performance of the company.