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

Table 6

Descriptive statistics of variables.

Variable	Observed value	Mean value	Standard deviation	Maximum	Minimum
Innovation	223	0.3767	0.4856	1	0
Strategy	223	0.4574	0.4993	1	0
Size	223	21.7079	1.1592	24.66	18.63
Leverage	223	0.4401	0.2679	1.4	0.03
Cashflow	223	0.0418	0.0724	0.3514	-0.1487
CR	223	4.0054	6.4359	36.5742	0
IBR	223	0.1655	0.3156	2.2921	-0.9332