Analisis Kinerja Keuangan Dan Pengaruhnya Terhadap Harga Saham (Studi Kasus Pada Pt Aqua Golden Mississippi, Tbk Sebelum Akuisisi Saham Dan Sesudah Akuisisi Saham Oleh Danone Periode Tahun 1997 2007)

Authors

  • Entar Sutisman Universitas Jayapura
  • Sad Lingga Fitriana Universitas Jayapura
  • Dianwicaksih Arieftiara Fakultas Ekonomi Universitas Negeri Surabaya

DOI:

https://doi.org/10.26740/jaj.v1n2.p158-170

Keywords:

Financial Performance, Z - Score, Acquisition, Stock Price

Abstract

Abstract

This research destination is to understand something effect from financial performance to corporate stock price before acquisition and after acquisition. Selected which corporate is PT Aqua Golden Mississippi, Tbk with measuring instrument z score analysis Taffler model as measuring instrument corporate financial performance and linear regretion to understand something effect from financial performance to stock price with period 1997 2007 be based on corporate year after and before acquisition. That indicate from analysis revenue corporate financial performance after and before acquisition significant influence stock price, but just direction relationship which different. This matter because of there are other factor factor which influence stock price, one of them is corporate drinking water in package stock not likuid in stock exchange. On the contrary, corporate condition after acquisition not significant, this meaning is increase of financial performance not followed with the increasing of corporate stock price


References

Adnan, Akhyar Muhammad dan Kurniasih, Eka.2000. Analisis Tingkat Kesehatan Perusahaan untuk Memprediksi Potensi Kebangkrutan dengan Pendekatan Altman (studi pada perusahaan perbankan dan non perbankan yang terdaftar di BEJ). JAAI Vol. 4, No. 2 hal 131-151.
Agustiono dan Devi Ika Puspitosari. 2004. Analisis Z-Score dalam Memprediksi Kebangkrutan Bank Go Publik di BEJ. Jurnal Eksekutif, Vol.1, No.1.
Algifari. 2000. Analisis Regresi: Teori, Kasus, dan Solusi. Yogyakarta: Liberty.
Altman. I Edward. 1991. Corporate Financial Distress and Bankruptcy. Edisi kedua. New York: John Wiley and Sains Inc.
Altman, I. Edward. 1968. The Journal of Finance œFinance Ratios, Discriminant Analysis and The Prediction of Corporate Bankruptcy. (Online), diakses tanggal 14 Maret 2009. https://doi.org/10.2307/2978933
Ardiani, Anita. 2007. Analisis Pengaruh Kinrja Keuangan terhadap Perubahan Harga Saham pada Perusahaan Perbankan di Bursa Efek Jakarta (BEJ.(Online) diakses tanggal 18 April 2009.
Azizudin, Data Agis. 2003. Analisis Pengaruh Merger dan Akuisisi terhadap Kinerja Perusahaan (Studi Empiris pada Perusahaan Manufaktur yang terdaftar di BEJ), (Online), diakses tanggal 18 April 2009.
BEI. Indonesia Capital Market Directory PT Aqua Golden Mississippi, Tbk tahun 1997-2007.
Dariyus. 2004. Pengaruh kinerja Keuangan terhadap Harga Saham pada PT Astra Internasional, Tbk. (Online), (http://laptunilapp-gdl-s2-2006-dariyus-572-2004_ts-1//pdf), diakses tanggal 18 April 2009.
Djawahir, M. Kusnan. 2003. Sulitnya Menciptakan Nilai Tambah bagi Shareholders.(Online) diakses tanggal 4 Februari 2009.
George, Bancrort Gordon. 1988. Match and Statistics for Accounting and Business Studies. England: Mc Graw-Hill Book Company (UK) Limited.
Ghozali, Imam. 2001. Aplikasi Analisis Multivariate dengan Program SPSS. Semarang: Badan Penerbit UNDIP.
Gujarati, Damodar. 2003. Basic Econometrics. New York: Mc Graw-Hill
Husnan, Suad. 2003. Dasar-Dasar Teori Portofolio dan Analisis Sekuritas. Yogyakarta: BPFE-UGM.
Ikatan Akuntan Indonesia. 2004. Pernyataan Standar Akuntansi Keuangan. Jakarta: Salemba Empat.
Machfoed, M. 1994. Financial Ratio Analysis and The Earning Change in Indonesia, kelola, No. 114-147.
Malhotra, K. Naresh. 2005. Riset Pemasaran: Pendekatan Terapan. Jakarta: Indeks
Munawir. 2001. Analisis Laporan Keuangan. Yogyakarta: Liberty.
Rahardjo, S. Dwi. 2009. Closing Case PT Aqua Group. (Online) diakses tanggal 31 Agustus 2009
Riyanto, Bambang. 1999. Dasar-Dasar Pembelanjaan Perusahaan. Yogyakarta: BPFE UGM.
Santoso, Singgih. 2001. SPSS Statistik Non Parametik. Jakarta: Elex Media Computindo.
Sawitri, Peni. 2002. Prediksi Tingkat Kesehatan Preusan Asuransi Jiwa Termasuk Kemungkinan Kebangkrutan dengan Rasio-Rasio Keuangan. Jurnal Manajemen No. 2, jilid 7.
Sudarsanam, P. S. 1995. The Essence of Merger & Akuisisi. Yoyakarta: Andi
Sugiyono.2008. Metode Penelitian Kuantitatif Kualitas dan R&D. Bandung; Alfabeta.
Susilawati, Dwi Karya Christine. 2005. Pengaruh Rasio keuangan terhadap harga Saham pada Perusahaan Manufaktur. Jurnal Ilmiah Manajemen Vol.5, No.2.
Taffler, J. Richard. 2007. Tweenty-Five the Taffler Z-Score Model: does it really have predictive ability? (Online), version 8.0: June 14, 2007, (http://journalvineet.agarwal@cranfield//pdf), diakses tanggal 5 September 2008. https://doi.org/10.1080/00014788.2007.9663313
Tim Penyusun. 2006. Panduan Penulisan dan Penilaian Skripsi. Surabaya: UNESA
Wibisono, Darmawan. 2006. Manajemen Kinerja: Konsep, Desain, dan Tehnik Meningkatkan Daya Saing Perusahaan. Jakarta: Erlangga.
Wild, J. John, K. R. Subramanyam, Robert F. Hasley. 2005. Financial Statment Análisis. Analisis Laporan Keuangan. Edisi 8. Jakarta: Salemba Empat.
www.aqua.com. Financial Highlight Aqua 1997 dan Prospectus Aqua 2003. (Online) diakses tanggal 30 April 2009.

Downloads

Published

2010-04-13

How to Cite

Sutisman, E., Fitriana, S. L., & Arieftiara, D. (2010). Analisis Kinerja Keuangan Dan Pengaruhnya Terhadap Harga Saham (Studi Kasus Pada Pt Aqua Golden Mississippi, Tbk Sebelum Akuisisi Saham Dan Sesudah Akuisisi Saham Oleh Danone Periode Tahun 1997 2007). AKRUAL: Jurnal Akuntansi, 1(2), 158–170. https://doi.org/10.26740/jaj.v1n2.p158-170

Issue

Vol. 1 No. 2: AKRUAL: Jurnal Akuntansi (April 2010)

Section

Articles

License

Authors who publish with this journal agree to the following terms:

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.

 

Abstract views: 3442 , PDF Downloads: 3853