Mergers and acquisitions: does performance depend on managerial ability?

Journal of Innovation and Entrepreneurship

A Systems View Across Time and Space

Table 6 T test of hypothesis with control variables

Variables	MTBR1			MTBR2			MTBR3
Variables	β	t value	Sig.	β	t value	Sig.	β	t value	Sig.
Constant	− 2.995			− 2.826			− 1.937
MA	0.801	1.979	0.105	0.803	1.902	0.116	0.557	2.050	0.096
Size	0.061	0.765	0.479	0.057	0.683	0.525	0.038	0.709	0.510
LEV	0.421	0.758	0.483	0.358	0.618	0.564	0.282	0.756	0.483
MB	0.294	0.588	0.582	0.330	0.633	0.555	0.295	0.877	0.421
TL	− 0.556	− 0.987	0.369	− 0.497	− 0.846	0.436	− 0.392	− 1.038	0.347
Stock	− 0.249	− 0.906	0.406	− 0.295	− 1.031	0.350	− 0.191	− 1.034	0.349
SG	1.062	1.608	0.169	0.958	1.391	0.223	0.729	1.644	0.161
HOR	0.349	1.435	0.211	0.317	1.252	0.266	0.233	1.428	0.213