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

Table 11

Probit regression results of model (4).

Independent variable	Dependent variable IA
	Rate of change dx/df	value	Z value
Patent	0.0005	0.093	1.68
Size	−0.0736	0.028	−2.20
Leverage	−0.5978	0.000	−3.49
Cashflow	0.5612	0.252	1.15
CR	−0.0000	0.994	0.01
IBR	−0.0827	0.499	−0.68
Pseudo R^2	0.1282
n	223
LR chi^2 (6)	37.89
Prob > chi^2	0.0000

, , and .