ANALISIS PERBEDAAN ABNORMAL RETURN PERUSAHAAN PENGAKUISISI SEBELUM DAN SESUDAH MERGER DAN AKUISISI YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2008-2011 | ELECTRONIC THESES AND DISSERTATION

Electronic Theses and Dissertation

Universitas Syiah Kuala

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ANALISIS PERBEDAAN ABNORMAL RETURN PERUSAHAAN PENGAKUISISI SEBELUM DAN SESUDAH MERGER DAN AKUISISI YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2008-2011


Pengarang

Fajar Irhamni - Personal Name;

Dosen Pembimbing



Nomor Pokok Mahasiswa

0901103010160

Fakultas & Prodi

Fakultas Ekonomi dan Bisnis / Akuntansi (S1) / PDDIKTI : 62201

Penerbit

Banda Aceh : Fakultas Ekonomi., 2013

Bahasa

Indonesia

No Classification

657.96

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Merger and acquisition is the events can influence market depend on the existence of the content of informations in the merger and acquisition phenomenon or not. If the merger and acquisition contain informations then market will react and vice versa. Objective of this study is to find out the difference abnormal return before and after the merger and acquisition announcement.
Research sample is determined by the purposive sampling method, and there are 28 companies which announce merger and acquisition between 2008, 2009, 2010, and 2011. Statistical experiment used is t-test experiment (paired samples t-test). The observation was done in 21 day, consist of 10 day before and 10 day after the merger and acquisition.
Results of this research show that there is no significant difference between abnormal return before and after merger and acquisition announcement. So, it is concluded that merger and acquisition have no information content, so that market in general give no reaction, it due to the merger and acquisition announcement can’t give positive signal information

Key word: abnormal return, merger and acquisition.

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