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

Table 7

Probit regression result of model (1).

Independent variable	Dependent variable IA
	Rate of change dx/df	value	Z value
Strategy	0.2039	0.010	2.59
Size	−0.0872	0.011	−2.55
Leverage	−0.4420	0.015	−2.44
Cashflow	0.8434	0.096	1.67
CR	−0.0006	0.930	−0.09
IBR	−0.1241	0.329	−0.98
Pseudo R^2	0.1403
n	223
LR chi^2(6)	41.45
Prob > chi^2	0.0000

, , and .