Ikaputri, Marcelina Wahyuningtyas (2022) DAMPAK PENGUMUMAN MERGER DAN AKUISISI (M&A) TERHADAP RETURN SAHAM (Studi Empiris pada Perusahaan Perbankan di LQ45 di antara Tahun 2011-2021). Skripsi thesis, Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta.
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Abstract
ABSTRAK Informasi di zaman teknologi 4.0 memang membawa dampak bagi kehidupan masyarakat, terutama dapat menimbulkan dampak bagi perusahaan yang membuat pengumuman mengenai corporate action yang dilakukan perusahaan. Pengumuman tentang corporate action salah satunya ialah pengumuman merger dan akuisisi (M&A) yang di mana ini merupakan salah satu strategi untuk pertumbuhan dan perluasan bisnis. Strategi ini sudah banyak diadopsi oleh negara maju di dunia dan sudah mulai merambat ke negara berkembang seperti Indonesia. Penelitian ini memiliki tujuan untuk mengetahui dampak pengumuman merger dan akuisisi (M&A) terhadap return saham di perbankan LQ 45 di antara tahun 2011-2021. Metode penelitian menggunakan event study dengan jenis penelitian kuantitatif. Event study digunakan untuk menghitung abnormal return dan cumulative abnormal return untuk mengamati efek dari pra dan pasca pengumuman merger dan akuisisi (M&A) terhadap harga saham. Populasi sasaran yaitu 9 perusahaan perbankan yang terdaftar di LQ 45, selanjutnya hasil sampel yang di olah adalah 8 peristiwa merger dan akuisisi (M&A) dari 3 perbankan LQ 45. Dengan jendela peristiwa 91 hari yaitu 45 hari pra pengumuman, 1 hari pengumuman dan 45 hari pasca pengumuman. Variabel yang digunakan adalah variabel bebas membahas pengumuman merger dan akuisisi (M&A) sedangkan variabel terikat membahas mengenai return saham. Secara keseluruhan peristiwa penelitian ini menunjukkan hasil bahwa pasar merespons positif terhadap fenomena merger dan akuisisi (M&A) di perbankan LQ 45. Hasil ini akan berguna dalam memberikan wawasan baru kepada investor dan manajemen dalam membuat keputusan terkait investasi saham. Kata Kunci : Merger dan Akuisisi, Return Saham, Event Study, Abnormal Return, Cumulative Abnormal Return ABSTRACT Information in the era of technology 4.0 does have an impact on people's lives, especially it can have an impact on companies that make announcements about corporate actions carried out by companies. One of the announcements regarding corporate action is the announcement of mergers and acquisitions (M&A), which is one of the strategies for business growth and expansion. This strategy has been adopted by many developed countries in the world and has begun to spread to developing countries such as Indonesia. This study aims to determine the impact of merger and acquisition (M&A) announcements on stock returns in LQ 45 banking between 2011-2021. Method of the research is used event study with the quantiative research type. Event study is function to calculate or count abnormal return and cumulative return to observe the effect before and after merger announcement and acquisition (M&A) toward stock prices. The target population such are 9 banking companies that listed in LQ-45, further the result of samples processed are 8 events of merger and acquisition (M&A) from 3 of banking in LQ-45. The periodic of event through are 91 days with 45 days before announcement, 1 day annoucement and 45 days after announcement. The variebles is used a free variable that examining and the acquisition (M&A) is used a depent variable that examining about stock return. Overall, this research shows the results that the market responds positively to the phenomenon of mergers and acquisitions (M&A) in LQ 45 banking. These results will be useful in providing new insights to investors and management in making decisions regarding stock investment. Keywords : Merger and Acquisition, Stock Return, Event Study, Abnormal Return, Cumulative Abnormal Return
| Item Type: | Thesis (Skripsi) | ||||||||
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| Subjects: | Manajemen > Manajemen Keuangan | ||||||||
| Divisions: | S1 Manajemen | ||||||||
| Depositing User: | Marcelina Wahyuningtyas Ikaputri | ||||||||
| Date Deposited: | 06 Jan 2023 09:32 | ||||||||
| Last Modified: | 06 Jan 2023 09:32 | ||||||||
| URI: | http://repository.stei.ac.id/id/eprint/9271 |
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