Research Article

The Impact of Business Strategic Orientation on Innovation-Driven Mergers and Acquisitions: An Empirical Study

Table 1

Indicators for measuring business strategic orientation.

NameMeaning

RDSThe ratio of research and development to sales
EMPSThe ratio of employees to sales
REVA historical growth measure (one-year percentage change in total sales)
MSThe ratio of marketing (SG&A) to sales
EMPFA measure of employee fluctuations
CIMeasure of capital intensity (net PPE scaled by total assets)