Daftar Populasi dan Sampel Penelitian
No.
Kode
Nama Perusahaan
Kriteria
Sampel
Sampel
1
2
3
4
1.
ASII
PT. Astra International Tbk.
√
√
√
√
1
2.
BNLI
PT. Bank Permata Tbk.
√
√
√
√
2
3.
BCAP
Bhakti Capital Indonesia Tbk. /MNC
Kapital Indonesia Tbk.
√
√
√
√
35.
TLKM
PT. Telekomunikasi Indonesia (Persero)
Tbk.
√
√
√
√
31
36.
SILO
PT. Siloam International Hospital Tbk.
√
√
√
-
-
37.
MDLN
PT. Modernland Realty Ltd Tbk.
√
√
√
-
-
38.
BBCA
PT. Bank Central Asia Tbk.
√
√
√
-
-
39.
BTPN
PT. Bank Tabungan Pensiunan Nasional
Tbk.
√
√
√
Daftar Perusahaan Sampel
No.
Kode
Perusahaan
Nama Perusahaan
Tanggal M&A
Keterangan
1.
ASII
PT. Astra International
Tbk.
27 Desember 2010
Akuisisi
(Mengambil
alih)
2.
BNLI
PT. Bank Permata Tbk.
29 Desember 2010
Akuisisi
(Mengambil
alih)
3.
BCAP
Bhakti Capital Indonesia
Tbk. /MNC Kapital
Indonesia Tbk.
11 Januari 2011
Akuisisi
(Mengambil
alih)
4.
SOBI
PT Sorini Agro Asia
Corporindo Tbk.
2 Maret 2011
Akuisisi
(Diambil alih)
5.
BBRI
PT Bank Rakyat
Indonesia (Persero) Tbk.
14 Maret 2011
Akuisisi
(Mengambil
alih)
6.
AGRO
PT Bank Rakyat
Indonesia Agroniaga
Tbk.
14 Maret 2011
Akuisisi
(Diambil alih)
7.
ANTM
PT. Aneka Tambang
Indonesia Tbk.
8 Juni 2011
Akuisisi
Teknologi Tbk.
(Mengambil
alih)
11.
KKGI
PT. Resource Alam
Indonesia Tbk.
18 Agustus 2011
Akuisisi
(Diambil alih)
12.
MAPI
PT. Mitra Adiperkasa
Tbk.
12 Oktober 2011
Akuisisi
(Mengambil
alih)
13.
KIJA
PT. Kawasan Industri
Jababeka Tbk.
27 November 2011
Akuisisi
(Mengambil
alih)
14.
MBSS
PT. Mitrabahtera Segara
Sejati Tbk.
16 Januari 2012
Akuisisi
(Diambil alih)
15.
MLPL
PT. Multipolar Tbk.
22 Juni 2012
Akuisisi
28 Agustus 2012
Akuisisi
(Mengambil
alih)
18.
TURI
PT. Tunas Ridean Tbk.
19 September 2012
Akuisisi
(Mengambil
Development Tbk.
11 Desember 2012
Akuisisi
(Mengambil
Persada Tbk.
29 Mei 2013
Akuisisi
(Mengambil
alih)
23.
SIMP
PT. Salim Ivomas
Pratama Tbk.
10 Juni 2013
Akuisisi
(Mengambil
alih)
24.
IMAS
PT. Indomobil Sukses
Intenasional Tbk.
13 Juni 2013
Akuisisi
(Diambil alih)
25.
HRUM
PT. Harum Energy Tbk.
2 Juli 2013
Akuisisi
(Mengambil
alih)
Tbk.
(Mengambil
alih)
27.
TKIM
PT. Pabrik Kertas Tjiwi
Kimia Tbk.
10 September 2013
Akuisisi
(Mengambil
alih)
28.
TELE
PT. Tiphone Mobile
Indonesia Tbk.
10 September 2013
Akuisisi
(Mengambil
alih)
29.
INDS
PT. Indospring Tbk.
30 September 2013
Akuisisi
(Mengambil
alih)
30.
BIPI
PT. Benakat Integra Tbk. 16 Oktober 2013
Akuisisi
(Mengambil
alih)
31.
TLKM
PT. Telekomunikasi
Indonesia (Persero) Tbk.
Statistik Deskriptif
Statistik Deskriptif 2 Tahun Sebelum Merger dan Akuisisi
Descriptives
Descriptive Statistics
N Range Minimum Maximum Mean Std. Deviation
OPM 31 496.10104 -27.65085 468.45019 32.3003225 82.60520254
ROA 31 40.96453 -.00163 40.96290 9.7512108 10.30538148
ROE 31 67.54631 -.00197 67.54434 18.8318694 15.97422213
DER 31 11.55628 .03383 11.59010 1.8670449 2.79543922
Valid N (listwise) 31
Statistik Deskriptif 1 Tahun Sebelum Merger dan Akuisisi
Descriptives
Descriptive Statistics
N Range Minimum Maximum Mean Std. Deviation
OPM 31 76.53564 -27.93892 48.59672 16.0617588 14.54615760
ROA 31 52.44439 -18.53564 33.90875 7.5232650 9.42836565
ROE 31 75.59158 -21.48378 54.10780 16.3264219 14.48691350
DER 31 10.41012 .15905 10.56917 1.8389608 2.84139284
Valid N (listwise) 31
Statistik Deskriptif 1 Tahun Sesudah Merger dan Akuisisi
Descriptives
Descriptive Statistics
N Range Minimum Maximum Mean Std. Deviation
OPM 31 2821.65644 -24.18967 2797.46677 155.0595887 559.72104168
ROA 31 84.97705 -16.27135 68.70570 8.7948109 13.41252426
ROE 31 820.30601 -73.97006 746.33595 34.9893498 133.34497471
DER 31 10.04851 .04187 10.09038 1.8502945 2.57011280
Valid N (listwise) 31
Uji Normalitas
Hasil Uji Normalitas 2 Tahun Sebelum Merger dan Akuisisi
NPar Tests
One-Sample Kolmogorov-Smirnov Test
OPM ROA ROE DER
N 31 31 31 31
Normal Parametersa,b Mean 32.3003225 9.7512108 18.8318694 1.8670449
Std. Deviation 82.60520254 10.30538148 15.97422213 2.79543922
Most Extreme Differences Absolute .352 .202 .148 .339
Positive .352 .202 .148 .339
Negative -.329 -.172 -.119 -.256
Kolmogorov-Smirnov Z 1.961 1.124 .826 1.887
Asymp. Sig. (2-tailed) .001 .160 .502 .002
a. Test distribution is Normal. b. Calculated from data.
Hasil Uji Normalitas 1 Tahun Sebelum Merger dan Akuisisi
NPar Tests
One-Sample Kolmogorov-Smirnov Test
OPM ROA ROE DER
N 31 31 31 31
Normal Parametersa,b Mean 16.0617588 7.5232650 16.3264219 1.8389608
Std. Deviation 14.54615760 9.42836565 14.48691350 2.84139284
Most Extreme Differences Absolute .116 .180 .155 .337
Positive .073 .128 .155 .337
Negative -.116 -.180 -.101 -.277
Kolmogorov-Smirnov Z .645 1.003 .864 1.878
Asymp. Sig. (2-tailed) .800 .266 .444 .002
a. Test distribution is Normal. b. Calculated from data.
Hasil Uji Normalitas 1 Tahun Sesudah Merger dan Akuisisi
NPar Tests
One-Sample Kolmogorov-Smirnov Test
OPM ROA ROE DER
N 31 31 31 31
Normal Parametersa,b Mean 155.0595887 8.7948109 34.9893498 1.8502945
Std. Deviation 559.72104168 13.41252426 133.34497471 2.57011280
Most Extreme Differences Absolute .499 .236 .471 .329
Positive .499 .236 .471 .329
Negative -.374 -.217 -.361 -.241
Kolmogorov-Smirnov Z 2.779 1.313 2.622 1.829
Asymp. Sig. (2-tailed) .000 .064 .000 .002
Uji Wilcoxon Signed Ranks Test dan Paired Sample T-Test
Uji Wilcoxon Signed Rank Test pada Operating Profit Margin
NPar Tests
Wilcoxon Signed Ranks Test
Ranks
N Mean Rank Sum of Ranks
OPM_1THNSSDH - OPM_2THNSBLM
Negative Ranks 15a 15.87 238.00
Positive Ranks 16b 16.13 258.00
Ties 0c
Total 31
OPM_1THNSSDH - OPM_1THNSBLM
Negative Ranks 18d 13.67 246.00
Positive Ranks 13e 19.23 250.00
Ties 0f
Total 31
a. OPM_1THNSSDH < OPM_2THNSBLM b. OPM_1THNSSDH > OPM_2THNSBLM c. OPM_1THNSSDH = OPM_2THNSBLM d. OPM_1THNSSDH < OPM_1THNSBLM e. OPM_1THNSSDH > OPM_1THNSBLM f. OPM_1THNSSDH = OPM_1THNSBLM
Test Statisticsb
OPM_1THNSS
a. Based on negative ranks. b. Wilcoxon Signed Ranks Test
Uji Paired Sample T- Test pada Return On Assets
T-Test
Paired Samples Statistics
Mean N Std. Deviation Std. Error Mean
Pair 1 ROA_2THNSBLM 9.7512108 31 10.30538148 1.85090115
ROA_1THNSSDH 8.7948109 31 13.41252426 2.40896047
Pair 2 ROA_1THNSBLM 8.4914761 31 10.14399663 1.82191558
ROA_1THNSSDH 8.7948109 31 13.41252426 2.40896047
Paired Samples Correlations
N Correlation Sig.
Pair 1 ROA_2THNSBLM &
ROA_1THNSSDH
31 -.034 .854
Pair 2 ROA_1THNSBLM &
ROA_1THNSSDH
31 .165 .375
Paired Samples Test
Paired Differences
t df
95% Confidence Interval of the Difference
Lower Upper
Pair 1 ROA_2THN
SBLM - ROA_1THN SSDH
.956399 17.193922 3.088119 -5.350381 7.263181 .310 30 .759
Pair 2 ROA_1THN
SBLM - ROA_1THN SSDH
Uji Paired Sample T-Test Test pada Return On Equity
T-Test
Paired Samples Statistics
Mean N Std. Deviation Std. Error Mean
Pair 1 ROE_2THNSBLM 18.8318694 31 15.97422213 2.86905499
ROE_1THNSSDH 34.9893498 31 133.34497471 23.94946446
Pair 2 ROE_1THNSBLM 16.3264219 31 14.48691350 2.60192648
ROE_1THNSSDH 34.9893498 31 133.34497471 23.94946446
Paired Samples Correlations
N Correlation Sig.
Pair 1 ROE_2THNSBLM &
ROE_1THNSSDH
31 -.200 .280
Pair 2 ROE_1THNSBLM &
ROE_1THNSSDH
31 -.092 .622
Paired Samples Test
Paired Differences
t df
95% Confidence Interval of the Difference
Lower Upper
Pair 1 ROE_2THN
SBLM - ROE_1THN SSDH
-16.157480 137.436138 24.684259 -66.569463 34.254502 -.655 30 .518
Pair 2 ROE_1THN
SBLM - ROE_1THN SSDH
Uji Wilcoxon Signed Rank Test pada Debt to Equity Ratio
NPar Tests
Wilcoxon Signed Ranks Test
Ranks
N Mean Rank Sum of Ranks
DER_1THNSSDH - DER_2THNSBLM
Negative Ranks 18a 15.11 272.00
Positive Ranks 13b 17.23 224.00
Ties 0c
Total 31
DER_1THNSSDH - DER_1THNSBLM
Negative Ranks 16d 15.75 252.00
Positive Ranks 15e 16.27 244.00
Ties 0f
Total 31
a. DER_1THNSSDH < DER_2THNSBLM b. DER_1THNSSDH > DER_2THNSBLM c. DER_1THNSSDH = DER_2THNSBLM d. DER_1THNSSDH < DER_1THNSBLM e. DER_1THNSSDH > DER_1THNSBLM f. DER_1THNSSDH = DER_1THNSBLM
Test Statisticsb
DER_1THNSS
