Financial Performance Analysis Before And After Acquisition and its Impact on Sustainable Growth Rate in the Pharmaceutical Industry
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This research aims to understand and analyze whether there is a difference in Current Ratio (CR), Debt-Equity Ratio (DER), Total Assets Turnover (TATO), Inventory Turnover (ITO), Net Profit Margin (NPM), Return On Assets (ROA) , Return On Equity (ROE) before and after acquisition, as well as whether there is an influence of Debt-Equity Ratio (DER), Total Assets Turnover (TATO), Current Ratio (CR) and Return On Assets (ROA) on Sustainable Growth Rate (SGR) in the Pharmaceutical Industry listed on the Indonesian Stock Exchange (IDX) and the National Stock Exchange of India (NSE) which carried out acquisitions in 2012-2022. The research method used is a quantitative method based on secondary data and the population of Pharmaceutical Industries registered on the IDX and NSE India, then non-probability sampling - purposive sampling was carried out. Data testing and hypothesis testing were carried out with the help of IBM Statistics SPSS 25, namely the Wilcoxon Signed Rank Test, Kendall's tau test, multiple regression test, t statistical test, and F statistical test. The test results showed that there was a significant difference for the Total Assets Turnover (TATO), Inventory Turnover (ITO), Return On Assets (ROA), and Return On Equity (ROE) between before and after the acquisition, and there is a significant influence of Total Assets Turnover (TATO), Current Ratio (CR), dan Return On Assets (ROA) partially on the Sustainable Growth Rate (SGR) and there is an influence of the Debt-Equity Ratio (DER), Total Assets Turnover (TATO), Current Ratio (CR) and Return On Assets (ROA) simultaneously affect the Sustainable Growth Rate (SGR).
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