Impact of Merger on HDFC Bank Financial Performance: A CAMEL Analysis Approach

The main purpose of this study is to examine the impact on financial performance of HDFC Bank before and after the merger and to compare the pre and post-merger effect caused on its financial performance by CAMEL Analysis. The data used in the study is secondary data covering total time period of ten years which include five year prior merger (2003-2008) and five year of post-merger period (2009-2014). The research technique used in this study is CAMEL Analysis. Paired sample T-test has been also conducted to check the statistical significance difference between before and after merger CAMEL ratios and to measure the effect of merger on financial performance. The result showed that the financial performance of HDFC increased after the merger and positively impacted by the act of merger.

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Analisa Dampak Covid-19 terhadap Kinerja Keuangan Perusahaan Pembiayaan di Indonesia

Jurnal Bisnis, Manajemen, dan Ekonomi ◽

10.47747/jbme.v2i2.217 ◽

2021 ◽

Vol 2 (2) ◽

pp. 22-29

Author(s):

Maria Esomar

Keyword(s):

Financial Performance ◽

Financial Services ◽

Secondary Data ◽

T Test ◽

Return On Assets ◽

Return On Equity ◽

Paired Sample ◽

The Public ◽

Before And After ◽

The Impact

The financing industry in Indonesia faces significant challenges due to the Covid-19 pandemic. The amount of financing channeled to the public and debtors’ ability to pay decreases. The purpose of this study is to analyze the impact of Covid-19 on the financial performance of finance companies by analyzing financial ratios, namely the Financing to Deposit Ratio (FDR), NPF (NonPerforming Financing (NPF) Return on Assets (ROA) and Return on Equity (ROE). This study applies a quantitative approach because the data collected are numbers. The data used are secondary data in the form of finance company statistics published by the Financial Services Authority (OJK), within the period of 9 months before (June 2019 - February 2020) and 9 months after (April 2020 - December 2020) the announcement of the first Covid-19 case in Indonesia on March 2nd, 2020. The test is conducted using th Paired Sample T-Test. The results of the data processing display that there are differences in the financial performance of finance companies in Indonesia before and after the Covid-19 which can be seen from the results of the Table of Paired Sample T-Test for the ratio of FDR, NPF, ROA, and ROE. Keywords : Financial performance, FDR, NPF, ROA, ROE

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The Announcement of Sharia Bank’s Conditional Merger Agreement. How Investor Reacted?

Journal of Business Management Review ◽

10.47153/jbmr22.1002021 ◽

2021 ◽

Vol 2 (2) ◽

pp. 136-146

Author(s):

Syamsuddin Syamsuddin ◽

Versiandika Yudha Pratama

Keyword(s):

Event Study ◽

Stock Price ◽

Abnormal Return ◽

Secondary Data ◽

T Test ◽

Event Window ◽

Paired Sample ◽

Average Abnormal Return ◽

Significant Difference ◽

Before And After

This study aims to determine there is a difference in average abnormal return of BRI Syariah before and after the signing of the Conditional Merger Agreement (CMA), which is on October 12th, 2020. This research used event study for method and the data in this study are secondary data in the form of stock price data of BRI Syariah. The event window in this study for 11 (eleven) working days which is 5 (five) days before the event, 1 (one) day when the event occurs and 5 (five) days after the signing of the Conditional Merger Agreement (CMA) BUMN sharia bank. Meanwhile, the estimated period is set for 120 exchange days, namely at t-125 to t-6. Test conducted by paired sample t-test. The results of the paired sample t-test showed that there is no significant difference between the average abnormal return of BRI Syariah shares before and after the signing of the Conditional Merger Agreement. It can be concluded that neither the market nor investors reacted to the signing of the Conditional Merger Agreement (CMA) that occurred at BRI Syariah Bank.

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Dampak Pandemi Covid-19 terhadap Kinerja Keuangan Perusahaan Sektor Jasa di BEI

JKBM (JURNAL KONSEP BISNIS DAN MANAJEMEN) ◽

10.31289/jkbm.v7i2.5266 ◽

2021 ◽

Vol 7 (2) ◽

pp. 227-233

Author(s):

Maria J F Esomar ◽

Restia Christianty

Keyword(s):

Financial Performance ◽

Hypothesis Testing ◽

Sampling Method ◽

Stock Exchange ◽

Paired Sample ◽

Empirical Results ◽

Significant Difference ◽

Before And After ◽

The Impact ◽

Profitability Ratios

The Covid-19 pandemic has caused many hotels, restaurants and tourism activities to be temporarily closed. It has an impact on the financial performance towards the companies engaged in this sub-sector. The objective of this study is to analyze the impact of Covid 19 towards the financial performance of companies engaged in the sub-sector of hotel, restaurant and tourism. Financial performance is measured using several ratios, namely liquidity ratios, solvability ratios, profitability ratios and market ratio. The ype of research is descriptive quantitave. The population in this study is 35 all companies in the sub-sector of hotel, restaurant and tourism listed on the Indonesia Stock Exchange in 2019-2020 period. Samples are collected from 30 companies using purposive sampling method. Hypothesis testing is conducted using the Paired Sample t-Test. The empirical results show that, in the liquidity ratio, and market ratio there is no significant difference between the periods of before and after the first recorded Covid-19 case in Indonesia. Meanwhile, in the solvability ratio and profitability ratio, there are significant differences between the two periods.

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Impact of Demonetization Process on the Performance of Nifty

Studies in Economics and Business Relations ◽

10.48185/sebr.v2i1.284 ◽

2021 ◽

Vol 2 (1) ◽

pp. 16-30

Author(s):

Mohd. Shamim

Keyword(s):

Statistical Significance ◽

T Test ◽

Descriptive Statistics ◽

Periodic Review ◽

Paired Sample ◽

Long Run ◽

Negative Impacts ◽

Future Policy ◽

The Impact ◽

Statistical Results

This paper investigates the impact of demonetization process on the performance of Nifty 50 and its Sectorial Indices. The study uses data of closing prices from 28 June 2016 up to 20 March 2017. The study employs descriptive statistics, paired sample T test and ANOVA to evaluate the impact of demonetization process on the performance of Nifty 50 and its Sectorial Indices. It has found that there is statistical significance at the level of 5% that Nifty 50 dropped after the demonetization event as compared to the pre demonetization event. Further, the results reveal that most of Sectorial Indices of Nifty 50 sloped downward post demonetization event and the significance of the statistical results are varied from one sector to another. It is recommended that periodic review of the policy should be made to iron out the negative impacts of demonetization. Also, it is imperative to evaluate the impact of demonetization on the short, medium, and long run to avoid any grey areas for any future policy regarding cashless economy or demonetization.

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DAMPAK PENERAPAN PP NOMOR 46 TAHUN 2013 ATAS PEMBAYARAN PAJAK OLEH WAJIB PAJAK KPP PRATAMA MANADO

JURNAL RISET AKUNTANSI DAN AUDITING "GOODWILL" ◽

10.35800/jjs.v6i2.10497 ◽

2015 ◽

Vol 6 (2) ◽

Author(s):

Yuli Rawun ◽

Agus T. Poputra ◽

Lintje Kalangi

Keyword(s):

Income Tax ◽

Government Regulation ◽

T Test ◽

Paired Sample ◽

Significant Difference ◽

Before And After ◽

The Government ◽

Tax Payments ◽

The Impact ◽

Year 2013

In an effort to increase voluntary compliance with tax obligations and encourage the contribution of revenues from the UMKM sector, the Government has issued Government Regulation No. 46 2013. The new Tax Regulation has the advantage of rates that are used less than the previous fare, ie 1% of gross turnover.Regulation No. 46 2013 taxpayer applies for personal and / or agency that has a certain gross income, ie income less than 4.8 M. The aim of this study was to analyze the impact of adoption of Government Regulation No. 46 2013 of Paying Income Tax by Taxpayers at KPP Pratama Manado. The analytical method used is using two different test samples / dependent groups (paired) or Paired Sample T Test. Paired Sample t test course used when the two groups are interconnected. Two paired sample means a sample with the same subject but have two different treatments or measurements of, for example, before and after. Results of this study indicate that there is a difference between before and after the enactment of Government Regulation No. 46 Year 2013, but the difference that causes a decrease in the amount of tax paid by individual taxpayers who use the recording but for individual taxpayers who use the books there is no significant difference. As for corporate taxpayers that difference causes an increase on the amount of income tax payments by using final tax. Thus the application of Regulation No. 46 Year 2013 needs to be socialized again to taxpayers who are not registered in the KPP Pratama Manado in order to increase the amount of income tax payments.

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Analisis Kinerja Keuangan Perusahaan Sebelum dan Sesudah Right Issue di BEI

E-Jurnal Manajemen Universitas Udayana ◽

10.24843/ejmunud.2018.v7.i03.p18 ◽

2018 ◽

Vol 7 (3) ◽

pp. 1623

Author(s):

Guido Gian Layuk Runtung ◽

I Putu Yadnya

Keyword(s):

Data Analysis ◽

Financial Performance ◽

Research Data ◽

T Test ◽

Financial Ratios ◽

Paired Sample ◽

Analysis Technique ◽

Significant Difference ◽

Before And After ◽

The Right

The Purpose of this study was to analyze the diffrences in financial performance before and after right issue. Right issue a corporate action by the company by issuing new shares offered to existing shareholders. Sampling in this study using method purposive sampling. The samples in this research are 33 companies that conduct period 2011 – 2015. The financial performance in will be analysis through the five financial ratios namely CR, DER, TAT, ROA, and PER. This research data analysis technique using paired sample t test and Wilcoxon signed ranks test. The results showed that significant diffrences in TAT ratio before and after the right issue. While the research for the ratios of CR, DER, ROA, and PER showed no significant difference before and after right issue. These result indicate that the company’s financial performance two years after the right issue is more efficient in utilizing company’s assets in order to increase sales.

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Analisis kinerja keuangan pemerintah daerah sebelum dan setelah ditetapkannya keputusan menteri dalam negeri no. 29 tahun 2002

JURNAL EKONOMI DAN BISNIS ISLAM ◽

10.32505/j-ebis.v5i2.1835 ◽

2020 ◽

pp. 172-186

Author(s):

Cici Dewi Sari Murni

Keyword(s):

Data Collection ◽

Financial Performance ◽

Local Governments ◽

Fiscal Decentralization ◽

Secondary Data ◽

Ability Level ◽

Paired Sample ◽

Paired Samples ◽

Before And After ◽

Parametric Statistics

This study aims to see whether there are differences in local government financial performance before and after the stipulation of Kepmendagri No.29 of 2002. This research was conducted in 12 districts/cities in Aceh which had not been expanded until 2001. The data used were secondary data with data collection techniques. documentation derived from the BPS in the Province of Aceh and other supporting sources. The variables used are the ratio of financial ability, ability to mobilize, level of dependency, and fiscal decentralization. Data were analyzed using parametric statistics which are different tests for two paired samples (paired sample t-test). The results showed that the financial performance of local governments in the form of financing ability, mobilization ability, level of dependency before the stipulation of Kepmendagri No. 29 of 2002 was not different from after the stipulation of Kepmendagri No. 29 of 2002, whereas in the form of fiscal decentralization before the stipulation of Kepmendagri No. 29 of 2002 is different from after the stipulation of Kepmendagri No. 29 of 2002.

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Analisis Perbedaan Kinerja Keuangan Rumah Sakit Sebelum dan Sesudah Kebijakan Tanpa Uang Muka

International Journal of Seocology ◽

10.26891/jik.v12i1.2018.32-38 ◽

2019 ◽

Vol 12 (1) ◽

pp. 32

Author(s):

Arifin Arifin ◽

Amal Chalik Sjaaf

Keyword(s):

Financial Performance ◽

Research Method ◽

Positive Impact ◽

Hospital Management ◽

T Test ◽

Payment Policy ◽

Paired Sample ◽

Hospital Financial Performance ◽

Before And After

The upfront payment policy in the hospital caused controversy and rejection from the society. To anticipate this, some hospitals apply no upfront payment policy. However the policy causes an increase in bad debts. Seeing this dilemma, the authors will conduct research to analyze the different of hospital financial performance before and after no upfront payment policy. The research method used is comparative descriptive with analyzed by paired sample t-test. The result was no upfront payment policy has a positive impact on hospital financial performance. The results of this study were expected to be an input for hospital management and government to revise and refine on the upfront payment policy.

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Dampak Kenaikan Harga Tiket Pesawat Terhadap Return dan Harga Saham pada PT. Garuda Indonesia Tbk di Bursa Efek Indonesia

Jurnal Ilmiah Ekonomi Global Masa Kini ◽

10.36982/jiegmk.v10i1.718 ◽

2019 ◽

Vol 10 (1) ◽

pp. 1

Author(s):

Agung Anggoro Seto ◽

Dian Septianti

Keyword(s):

Stock Price ◽

Stock Exchange ◽

T Test ◽

Price Increase ◽

Aviation Industry ◽

Analysis Model ◽

Paired Sample ◽

Before And After ◽

The Impact ◽

Airline Ticket

ABSTRACTThis research aims to analyze the impact of the price increase of airfare against return and the stock price of PT. Garuda Indonesia Tbk. This type of research is comparative. The Data used in this research is the secondary return and stock price of the weekly PT. Garuda Indonesia TBK in Indonesia Stock Exchange, with the amount of data 21 weeks before and 21 weeks after the price increase of airfare. Data analysis Model used the paired sample t-test. The results showed that there was no return on shares of PT. Garuda Indonesia TBK before and after the price increase of the airline ticket with a significance value of 0.887. The results also showed that there was a difference in the stock price of PT. Garuda Indonesia TBK before and after the price increase of the airline ticket with a significance value of 0.000. Where the stock price after the increase of the average airline ticket price is greater Rp. 239.143. The difference in the stock price of PT. Garuda Indonesia TBK. Before and after airfare increases due to investor perception or positive sentiments that assess the price increase in the aviation industry will benefit Airline companies. The high investor confidence and improvement of management system is believed to affect the investor's desire to invest in PT. Garuda Indonesia TBK So it has a significant impact on the price increase of PT. Garuda Indonesia TBK Post Airfare increases.Keywords : Return, Stock Price, Price AirfareABSTRAKPenelitian ini bertujuan untuk menganalisis dampak kenaikan harga tiket pesawat terhadap return dan harga saham PT. Garuda Indonesia Tbk. Jenis penelitian adalah komparatif, data yang digunakan pada penelitian ini adalah sekunder berupa return dan harga saham mingguan PT. Garuda Indonesia Tbk di Bursa Efek Indonesia, dengan jumlah data sebanyak 21 minggu sebelum dan 21 minggu sesudah kenaikan harga tiket pesawat. Model analisis data yang digunakan paired sample t test. Hasil penelitian menunjukkan tidak terdapat perbedaan return saham PT. Garuda Indonesia Tbk sebelum dan sesudah kenaikan harga tiket pesawat dengan nilai signifikansi sebesar 0,887. Hasil penelitian juga menunjukkan bahwa terdapat perbedaan harga saham PT. Garuda Indonesia Tbk sebelum dan sesudah kenaikan harga tiket pesawat dengan nilai signifikansi sebesar 0,000. Dimana harga saham setelah kenaikan harga tiket pesawat rata-rata lebih besar Rp. 239,143 Adanya perbedaan harga saham PT. Garuda Indonesia Tbk. sebelum dan sesudah kenaikan harga tiket pesawat disebabkan oleh persepsi investor atau adanya sentimen positif yang menilai kenaikan harga tiket pada industri penerbangan akan menguntungkan bagi perusahaan penerbangan. Tingginya kepercayaan investor dan perbaikan sistem manajemen diyakini berpengaruh terhadap keinginan investor untuk berinvestasi di PT. Garuda Indonesia Tbk sehingga berdampak signifikan terhadap peningkatan harga saham PT. Garuda Indonesia Tbk pasca kenaikan harga tiket pesawat.Kata kunci: Return, Harga Saham, Harga Tiket

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ANALISIS PENGARUH MERGER DAN AKUISISI TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN SEKTOR NON KEUANGAN YANG TERDAFTAR DI BEI TAHUN 2014 – 2018

account ◽

10.32722/acc.v7i2.3545 ◽

2020 ◽

Vol 7 (2) ◽

Author(s):

Rahmat Saleh ◽

Abdul Kohar

Keyword(s):

Financial Performance ◽

Quantitative Data ◽

Financial Sector ◽

Financial Statements ◽

T Test ◽

Paired Sample ◽

Purposive Sampling ◽

Testing Period ◽

Before And After ◽

The Difference

ANALISIS PENGARUH MERGER DAN AKUISISI TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN SEKTOR NON KEUANGAN YANG TERDAFTAR DI BEI TAHUN 2014 – 2018 Rahmat Saleh Sekolah Vokasi IPB [email protected] Abdul Kohar Universitas Pakuan Bogor [email protected] ABSTRACTThe purpose of this study is to determine whether there are differences in liquidity, solvency and profitability before and after M&A. This study uses quantitative data in the form of a company's financial statements 4 yearsbefore and after the activities of M&A. This research was conducted on non-financial sector companies listed on the IDX as many as 5 sample companies that conducted M&A in 2014 that were selected using the purposivesampling method. Data were tested using SPSS version 23 with the Paired Sample t Test. The results showed that there were no significant differences except for the difference in DAR in the testing period 1 year prior to 3 years after M&A, DER in the test period 1 year before and 3 years after M&A, ROA in the testing period of 3 years before with 4 years after, 2 years before with 4 years after M&A, ROE in the testing period 4 years before with 4 years after, 3 years before with 2 years, 4 years after, and 2 years before 2 years, 4 years after M&A. Keywords : Mergers, Acquisitions, Financial Performance, Paired Sample t Test ABSTRAKTujuan penelitian ini adalah untuk mengetahui apakah terdapat perbedaan pada likuiditas, solvabilitas danprofitabilitas sebelum dan sesudah M&A. Penelitian ini menggunakan data kuantitatif berupa laporan keuangan perusahaan 4 tahun sebelum dan sesudah aktivitas M&A. Penelitian ini dilakukan pada perusahaan sektor non keuangan yang terdaftar di BEI sebanyak 5 perusahaan sampel yang melakukan M&A tahun 2014 yang dipilih menggunakan metode purposive sampling. Data diuji menggunakan SPSS 23 dengan uji Paired Sample t Test. Hasil penelitian menunjukkan bahwa tidak ada perbedaan yang signifikan kecuali ada perbedaan pada DAR dalam periode pengujian 1 tahun sebelum dengan 3 tahun sesudah M&A, DER dalam periode pengujian 1 tahun sebelum dengan 3 tahun sesudah M&A, ROA dalam periode pengujian 3 tahun sebelum dengan 4 tahun sesudah,2 tahun sebelum dengan 4 tahun sesudah M&A, ROE dalam periode pengujian 4 tahun sebelum dengan 4 tahunsesudah, 3 tahun sebelum dengan 2 tahun, 4 tahun sesudah, dan 2 tahun sebelum dengan 2 tahun, 4 tahun sesudahM&A. Kata kunci : Merger, Akuisisi, Kinerja Keuangan, Paired Sample t Test

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