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COMPARATIVE ANALYSIS OF THE FINANCIAL PERFORMANCE OF MERGERS AND ACQUISITIONS IN THE UPSTREAM OIL AND GAS INDUSTRY: DATA FROM INDONESIA, MALAYSIA, AND THAILAND

This study examines whether changes in financial performance before and after mergers
and acquisitions (M&A) are statistically significant among acquiring firms in Southeast
Asia’s upstream oil and gas sector. Using a pre–post quantitative design, the analysis
covers 34 M&A transactions across Indonesia, Malaysia, and Thailand, with three-year
averages before and after the transaction. Drawing on Neoclassical, Synergy, Efficiency,
Capital-Liquidity, and Resource-Based View theories, the study evaluates profitability,
liquidity, solvency, and shareholder-value indicators. The results show that most pre–post
changes are not statistically significant, except for a modest increase in Gross Profit
Margin. Overall, the findings suggest that short-term financial gains from upstream M&A
remain limited due to long asset life cycles and complex integration processes.

Availability
30078327832RLC MM (Rak Tesis)Available
Detail Information
Series Title
Tesis
Statement of Responsibility
Call Number
7832
Publisher
Salemba, Jakarta : Magister Manajemen FEB UI.,
Collation
ix, 92 p. : ill. ; 30 cm
Language
English
ISBN/ISSN
-
Classification
650
Content Type
-
Edition
-
Subject(s)
MBI Dual Degree
Mergers And Acquisitions
Financial Ratios
Southeast Asia
Manajemen Keuangan, Pasar Modal, Risiiko
Upstream oil and gas
Pre- Post- M&A performance
Non-parametric analysis
Specific Detail Info
-
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