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Journal : Jurnal Administrasi Bisnis

ANALISIS DAMPAK MERGER TERHADAP ECONOMIC VALUE ADDED (EVA) DAN MARKET VALUE ADDED (MVA) (Studi Pada Perusahaan Di Bursa Efek Indonesia Yang Melakukan Merger Tahun 2011) Halimatus Sa’diyah
Jurnal Administrasi Bisnis Vol 24, No 1 (2015): JULI
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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Abstract

The purpose of the research is to determine the company’s financial performance as a result of the impact of the merger on the Economic Value Added (EVA) and Market Value Added (MVA). The type of research which used is event study with a quantitative approach to the three companies on the BEI were merged in 2011, namely PT Matahari Department Store, Tbk, PT Island Concepts Indonesia, Tbk, dan PT Prasidha Aneka Niaga, Tbk. The impact of the companies merged in 2011 when assessed by using EVA generally is positive and fluctuating except for PT Island Concepts Indonesia, Tbk which is negative. Whereas if that is assessed by using MVA generally is positive and fluctuating except for PT Prasidha Aneka Niaga, Tbk which is negative. That shows that the overall of the company’s financial performance is in good condition which means that the company is able to create added economic value to the company and the market as a result of the impact of the merger. Keywords: Merger, EVA, MVA Abstrak Tujuan penelitian ini adalah untuk mengetahui dampak merger terhadap Economic Value Added (EVA) dan Market Value Added (MVA). Jenis penelitian yang digunakan adalah event study dengan pendekatan kuantitatif pada 3 perusahaan di BEI yang melakukan merger tahun 2011, yaitu PT Matahari Department Store, Tbk, PT Island Concepts Indonesia, Tbk, dan PT Prasidha Aneka Niaga, Tbk. Dampak perusahaan yang melakukan merger tahun 2011 jika dinilai dengan menggunakan EVA secara umum bernilai positif dan fluktuatif, kecuali PT Island Concepts Indonesia, Tbk yang bernilai negatif. Sedangkan jika diukur dengan MVA secara umum bernilai positif dan fluktuatif kecuali PT Prasidha Aneka Niaga, Tbk yang bernilai negatif. Hal ini menunjukkan bahwa secara umum kinerja keuangan perusahaan berada dalam kondisi baik karena perusahaan mampu menciptakan nilai tambah ekonomis pada perusahaan dan pasar akibat dampak merger. Kata Kunci: Merger, EVA, MVA
Co-Authors Ach Syafiq Fahmi Ach. Syafiq Fahmi Achmad Kafil Umam Adhar Putra Setiawan Aeko Fria Utama FR Amelia Fitri Nuraini Amirudin Amirudin Anna Marina Atik Nurul Khoiriyah Atika Triana Okta Abidin Azra Batrisia Chilvi Alnura Cut Amanda Fatma Zuhra Dimas Fitra Setiawan Elfida Naila Fauziah Nazlie Elpawati, Elpawati Evi Dwi Kartikasari Fadeyanto Prabowo Fadyla Nuraeni Faiqatul Munawarah Faiqatul Munawwarah FARIDATUL JANNAH Fasiatun Fitri Anggitasari Fitri Nur Latifah Ghina Najwa Ilmi Hafifatul Jannah Hamdani . Hardiani Kusuma, Ajeng Pramesthy Hasya Tillah Iik Timamah Imam Buchori Imaratul Ulwiyah Indrawati Indrawati Inge Maretta Intan Dwi Permatasari IRWANSYAH Jalis Syarifah Jumantoro, Tegar Raffi Putra Katia Katia Khoirina Badriyah Krissantina Eferyn Lailatul Nuraini Lanjar Rahayu M. Aria Maulana M. Athar M. Cholid Mawardi M. Yusuf Mahilda Dea Komalasari Maltufah Nuriyanti Marisa Mirzak Marista Oktaviani Maulizar Maulizar Mochamad Mochklas Moh Kelvin Mu'alimin Muhammad Alfarizi Umri Muhammad Alfin Nur Muhammad Shohibuddin Muhammad Zaki Sofwan Nada Kamila Nafisah Maulidia Chusma Chusma Nazlah Hilda Yanti Ni Made Nike Zeamita Widiyanti Nor Khafizah Nur Fitri Hidayah, Nur Fitri Nur Sholfa Adilla Nuridhatus Solehah Nursan, Muhammad Nursyidah Nursyidah Nuzulul Khair Rachmat Kriyantono Rahmi Raihan Regita Wisnu Amelinda Resmila Abd Rauf Rif’ati Dina Handayani Rika Putri Sholiha Rizki Adi Puspita Sari Rozatun Nufus Rudi Irmawanto Rusmini Rusmini Sazkia Noor Anggraini Selvi Febriani Putri Sisca Dwi Febrianti Siti Afiqah Binti Zainuddin Sitti Lailatul Hasanah Syarif Husni Syarofi, Muhammad Tika Hestiarini Utami Tsurayya Zahirah Umi Salamah Weni Kurnia Rahmawati Yetty Tri Putri, Yetty Tri Yuna Regita Cahyani Yusmika Indah Zamzami Sabiq