Jurnal ANALISIS MANAJEMEN LABA DAN KINERJA KEUANGAN PERUSAHAAN PENGAKUISISI SEBELUM DAN SESUDAH AKUISISI

Jurnal ANALISIS MANAJEMEN LABA DAN KINERJA KEUANGAN PERUSAHAAN PENGAKUISISI SEBELUM DAN SESUDAH AKUISISI

ABSTRACT : The purpose of research is to obtain evidence of how earnings management has done by acquiring companies before the implementation of acquisition. In addition, it aims to determine thechanges in the acquirer's financial performance before and after the acquisition. This acquirer before and after the company makes acquisition. Analysis of financial performance uses financial rations, including profitability, activity, andsolvability. Analysis of earnings management using the modified theory of Jones. Earnings management by the acquirer is a proxy for discretionary accruals (DA). The company performance is measured by financing transactions (a net profit margin, return on assets, total assets turnover, and debt to equity ratio). The result of the analysis shows that there are two companies which have positive discretionary accrual value and the other three companies which have negative discretionary accrual value. Moreover, the financial performance of the acquirer is towards reduction of financial performance. The conclusion is that earning management of two acquirers companies (ANTM andUNTR) has done by increasing the profit (income increasing accruals) before doing the acquisition. While, the other three companies (ENRG, RAJA, and SMGR) have done earning management by decreasing the profit (income decreasing accruals) before doing the acquisition. Furthermore, financial performance that measures with NPM and DER increases after acquisition, while ROA and TATO decrease after acquisition.
Keyword : Earning Management, Acquisition, Financial Performance
Author : Tyasshela Sani Wibowo [19659004] Journal Code: jpmanajemendd151591

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