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

Table 9

Probit regression results of model (5).

Independent variable	Dependent variable IA
	Rate of change dx/df	value	Z value
Strategy	0.1773	0.035	2.11
Patent	0.0003	0.360	0.91
Size	−0.0912	0.008	−2.64
Leverage	−0.4584	0.012	−2.52
Cashflow	0.8061	0.113	1.58
CR	−0.0003	0.962	−0.05
IBR	−0.1231	0.335	−0.96
Pseudo R^2	0.1435
n	223
LR chi^2 (7)	42.40
Prob > chi^2	0.0000

, , and .