DAFTAR PUSTAKA
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Indonesia, Buku Satu, Salemba Empat, Jakarta.
Bringham, Eugene F and Erhrhardt C Micheal, 2002, Financial Management
Theory and Practice, Tenth Edition, Harcourd College Publishers, New
York.
Djarwanto Ps, Pangestu Subagjo, 1998, Statistik Induktif, Edisi 4, BPFE,
Yogyakarta.
Foster, G, 1986, Findneral Statement Analysis, Second Edition Prentice-Hall,
Englewood Cliffts, New Jersey.
Guredrawati, Etty dan Bambang Sudibyo, 1999, Studi Empiris Tentang Pengaruh
Pemilihan Metode Akuntansi Untuk Merger dan Akuisisi Terhadap
Volume Perdagangan Saham Perusahaan Publik di Indonesia, Vol 2.
No.2.
Husnan, Suad, 1999, Dasar-dasar Teori Portofolio Analisis Sekuritas, UPP-AMP
YKPN, Yogyakarta.
Ikatan Akuntan Indonesia, 2002, Pernyataan Standar Akuntansi Keuangan No. 22
Tentang Akuntansi Penggabungan Usaha, Salemba Empat, Jakarta.
Jogyanto, 1998, Teori Portofolio dan Analisis Investasi, BPFE, Yogyakarta.
Moin, Abdul, 2003, Merger, Akuisisi dan Divestasi, Ekonisia, Yogyakarta.
Mortensen, Roger, 1994, Accounting for Business Combination in the Global
Economy, Journal of Accounting Education, Vol. 12. No.1.
Payamta dan Doddy Setyawan, 2004, Analisis Pengaruh Merger dan Akuisisi
Terhadap Kinerja Perusahaan Publik di Indonesia, Jurnal Riset Akuntansi
Indonesia, Vol. 7. No. 3.
Sartono, Agus, 1996, Managemen Keuangan, Edisi Ketiga, BPFE, Yogyakarta.
Sunariyah, 2004, Pengantar Pasar Modal, UPP AMP YKPN, Yogyakarta.
Wibowo, Amin, dan Yulita Milla Pakereng, 2001, Pengaruh Pengumuman
Merger dan Akuisisi Terhadap Return Saham Perusahaan Akuisitor dan
Non Akuisitor dalam Sektor Industri yang sama di Bursa Efek Jakarta,
Jurnal Ekonomi dan Bisnis, Vol. 16. No.4.
No Kode Perusahaan Pengakuisisi Perusahaan Target Tanggal Listing Tgl Merger dan Akuisisi Klasifika
1 BDMN PT. Bank Danamon PT. Bank PDFCI 12/08/1989 01/05/2000 M
2 DYNA PT. Dynaplast PT. Sampak Unggul 08/05/1991 01/05/2000 A
3 ETWA PT. Eterindo Wahanatama PT. Eternal Petrochemical 16/5/1997 25/1/2000 A
4 DYNA PT. Dynaplast PT. Berlin Prospek Co 08/05/1991 25/1/2000 A
5 MEDC PT. Medco Energi Internasional PT. Western Simenggalis 10/12/1994 26/1/2000 A
6 GGRM PT. Gudang Garam PT. Industri Soda 27/8/1990 28/1/2000 A
7 BHIT PT. Bhakti Investama PT. Bentoel Prima 24/11/1997 02/07/2000 A
8 ISAT PT. Indosat PT. Satelindo 19/10/1994 23/2/2000 A
9 ETWA PT. Eterindo Wahanatama PT. Surya Melindo Megatama 16/5/1997 27/3/2000 A
10 ASII PT. Astra Internasional Cyele dan Parriage Limited 04/04/1990 04/07/2000 A
11 BPMN PT. Bank Danamon Bank Jaya, Bank Tiara, Bank Pos, Bank Tamara 12/06/1989 17/4/2000 M
12 KLBF PT. Kalbe Farma PT. Erbhpharma Internasional 30/7/1991 07/08/2000 A
13 SMGR PT. Semen Gresik PT. Bintang Cement Mandiri 07/08/1991 15/7/2000 A
14 DSFI PT. Dharma Samudra Finishing Industri PT. Tirta Arta Mina 24/3/2000 11/10/2000 A
15 TLKM PT. Telkom PT. Dayamitra Telekomunikasi 14/11/1995 14/12/2000 A
16 TURI PT. Tunas Ridean PT. Tunas Mobilindo 16/5/1995 16/4/2001 A
17 BASS PT. Bahtera Admina Samudera PT. Intelegalaxy Delta Fisheries 11/08/1999 05/01/2001 A
18 TURI PT. Tunas Ridean PT. Jardine Internasional Motor 16/5/1995 13/6/2001 A
19 PADS PT. Bahtera Admina Sejahtera PT. Megah Galaxy 11/08/1999 14/6/2001 A
20 BLTA PT. Berlian Laju Tanker PT. Citra Pesona 01/10/1998 16/1/2002 A
21 BNLI PT. Bank Bali PT. Bank Universial, PT, Bank Artha Media, 15/1/1990 22/4/2000 M
PT. Bank Patriot, PT. Bank Prima Express
22 HMSP PT. Hanjaya Mandala Sampurna PT. Prima Karya Utama Graha 15/8/1990 29/5/2002 A
23 PBRX PT. Pan Brother Textile PT. Kanwell Indonesia 16/8/1990 15/12/2002 A
24 CPLN PT. Charoen Pokphand Indonesia PT. Megah Bahyangan dan PT. Udang Inti Pertiwi 18/3/1991 04/08/2004 M
25 LPBN PT. Bank Lippo Santubong Investment BV 11/10/1989 26/7/2005 A
26 KLBF PT. Kalbe Farma PT. Dankos Laboratories Tbk dan PT. Ensevai 30/7/1991 28/9/2005 A
DAFTAR PERUSAHAAN GO PUBLIK
YANG MELAKUKAN MERGER DAN AKUISISI
TAHUN 2000-2005
No Kode -5 -4 -3 -2 -1 0 1 2 3 4 5 1 BDMN 3275000 38600000 310000 675000 3819000 13280000 7350000 36745000 2910000 510000 2035000 9335800 9910000 2 DYNA 7412500 1944000 2228500 919500 1648000 2012500 9791500 2471000 1928500 978500 1162000 2830500 3266300 3 ETWA 325000 540500 547500 3488000 816000 4131000 726000 437500 611500 381000 640000 1143400 559200 4 DYNA 821000 1112500 890000 1409000 2797500 1713500 7162500 3488000 404000 2086500 1018500 1406000 2831900 5 MEDC 958500 958500 1999000 5560500 1381000 1897000 665000 288500 598500 530500 672000 2171500 550900 6 GGRM 413500 1013000 650500 1364000 1963500 1164000 1579500 2110000 3143000 1799000 1656500 1080900 2057600 7 BHIT 3553500 5328500 7431000 0 0 12182000 17532500 26839500 7369000 1575500 0 3262600 10663300 8 ISAT 1064000 0 0 442000 1364000 881000 921000 4321000 524000 0 0 574000 1153200 9 ETWA 177000 352000 169500 1165500 397500 152500 199500 195500 1447000 287000 75000 452300 440800 10 ASII 5194000 5241500 5162000 2416500 4925000 3899500 930500 1773000 931000 1447500 2402000 4587800 1496800 11 BPMN 130000 55000 30000 0 0 200000 625000 3055000 9055000 0 0 43000 2547000 12 KLBF 4701000 1626000 1565000 623000 277500 0 0 1579000 654500 3072000 651000 1758500 1191300 13 SMGR 417500 123000 53500 83000 1000 0 0 55000 123000 147500 31000 135600 71300 14 DSFI 0 214500 51500 394000 228000 722500 0 0 3950000 2853000 273500 177600 1415300 15 TLKM 0 0 43768500 13714500 8036000 18536500 26559000 0 0 4271000 3617000 13103800 6889400 16 TURI 779000 272500 0 0 0 154000 252600 87500 307000 152000 0 210300 159820 17 BASS 1500 101000 2500 6000 0 97000 78000 844000 67500 67500 67500 22200 224900 18 TURI 51500 256000 256000 256000 270000 388500 230000 194500 194500 194500 0 217900 162700 19 PADS 95000 13500 138000 698000 1078000 548500 77500 289500 10000 27500 15500 404500 84000 20 BLTA 472500 228500 230000 387500 301000 2517000 508500 1516500 4248500 5090000 7476000 323900 3767900 21 BNLI 120000 885000 500000 160000 1525000 3410000 185000 300000 65000 0 770000 638000 264000 22 HMSP 4695000 10958000 4489000 5711000 6853000 15520500 8394500 16223000 16805500 1115000 2075000 6541200 8922600 23 PBRX 1500 1500 1500 1500 1500 1500 1500 1500 1500 1500 1500 1500 1500 24 CPLN 149000 317000 384000 75500 160500 160000 0 50000 0 0 0 217200 10000 25 LPBN 16829000 3024900 0 0 22381000 20409000 20032000 9563500 7092000 3235500 3309000 8446980 8646400 26 KLBF 5959000 0 0 7335000 5178500 2561500 8559500 27480000 0 0 5643000 3694500 8336500 Perusahaan Go Publik (Lembar Saham)
DAFTAR VOLUME PERDAGANGAN SAHAM HARIAN Selama 5 Hari sebelum dan 5 Hari Setelah Merger dan Akuisisi pada
Sebelum M & A
Sesudah M & A
1 BDMN PT. Bank Danamon
9335800
9910000
2 DYNA PT. Dynaplast
2830500
3266300
3 ETWA PT. Eterindo Wahanatama
1143400
559200.0
4 DYNA PT. Dynaplast
1406000
2831900
5 MEDC PT. Medco Energi Internasional
2171500
550900.0
6 GGRM PT. Gudang Garam
1080900
2057600
7 BHIT PT. Bhakti Investama
3262600
10663300
8 ISAT PT. Indosat
574000.0
1153200
9 ETWA PT. Eterindo Wahanatama
452300.0
440800.0
10 ASII PT. Astra Internasional
4587800
1496800
11 BPMN PT. Bank Danamon
43000.00
2547000
12 KLBF PT. Kalbe Farma
1758500
1191300
13 SMGR PT. Semen Gresik
135600.0
71300.00
14 DSFI PT. Dharma Samudra Finishing In
177600.0
1415300
15 TLKM PT. Telkom
13103800
6889400
16 TURI PT. Tunas Ridean
210300.0
159820.0
17 BASS PT. Bahtera Admina Samudera
22200.00
224900.0
18 TURI PT. Tunas Ridean
217900.0
162700.0
19 PADS PT. Bahtera Admina Sejahtera
404500.0
84000.00
20 BLTA PT. Berlian Laju Tanker
323900.0
3767900
21 BNLI PT. Bank Bali
638000.0
264000.0
22 HMSP PT. Hanjaya Mandala Sampurna
6541200
8922600
23 PBRX PT. Pan Brother Textile
1500.00
1500.00
24 CPLN PT. Charoen Pokphand Indonesia
217200.0
10000.00
25 LPBN PT. Bank Lippo
8446980
8646400
26 KLBF PT. Kalbe Farma
3694500
8336500
Sumber: Data yang telah diolah
RATA-RATA VOLUME PERDAGANGAN SAHAM HARIAN
SELAMA 5 HARI SEBELUM DAN 5 HARI SETELAH MERGER DAN AKUISISI
PERUSAHAAN GO PUBLIK
Rata-rata Volume Perdagangan Saham
Normality Test :
Descriptive Statistics
26
1500.00
1.3E+07
2414672
3396606.4990
26
1500.00
1.1E+07
2908639
3548956.8674
26
TVASBL
TVASSD
Valid N (listwise)
N
Minimum
Maximum
Mean
Std. Deviation
One-Sample Kolmogorov-Smirnov Test
26
26
2414672
2908639
3396607
3548957
.239
.232
.232
.232
-.239
-.206
1.217
1.181
.103
.123
N
Mean
Std. Deviation
Normal Parameters
a,bAbsolute
Positive
Negative
Most Extreme
Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
TVASBL
TVASSD
Test distribution is Normal.
a.
Calculated from data.
b.
T-Test
Paired Samples Statistics
2414672
26
3396606.4990
666129.3
2908639
26
3548956.8674
696007.7
TVASBL
TVASSD
Pair
1
Mean
N
Std. Deviation
Std. Error
Mean
Paired Samples Correlations
26
.750
.000
TVASBL & TVASSD
Pair 1
N
Correlation
Sig.
Paired Samples Test
-493967 2457555.1667 481966.2 -1486595 498661.1 -1.025 25 .315 TVASBL - TVASSD
Pair 1
Mean Std. Deviation
Std. Error
Mean Lower Upper 95% Confidence
Interval of the Difference Paired Differences
