A Systems View Across Time and Space
Table 9 T test of hypothesis with control variables
From: Mergers and acquisitions: does performance depend on managerial ability?
Variables | BHAR1 | BHAR2 | BHAR3 | ||||||
|---|---|---|---|---|---|---|---|---|---|
β | t value | Sig. | β | t value | Sig. | β | t value | Sig. | |
Constant | − 96.862 |  |  | − 102.042 |  |  | − 96.422 |  |  |
MA | − 5.946 | − 2.033 | 0.098 | − 6.559 | − 2.569 | 0.049 | − 7.036 | − 3.379 | 0.020 |
Size | 3.459 | 6.026 | 0.002 | 3.647 | 7.280 | 0.001 | 3.477 | 8.512 | 0.000 |
LEV | − 10.747 | − 2.676 | 0.044 | − 11.703 | − 3.340 | 0.021 | − 11.572 | − 4.050 | 0.010 |
MB | 1.656 | 0.458 | 0.666 | 1.783 | 0.565 | 0.596 | 0.555 | 0.216 | 0.838 |
TL | 12.433 | 3.057 | 0.028 | 13.621 | 3.838 | 0.012 | 15.405 | 5.323 | 0.003 |
Stock | 3.135 | 1.579 | 0.175 | 3.349 | 1.934 | 0.111 | 4.091 | 2.896 | 0.034 |
SG | 8.013 | 1.679 | 0.154 | 8.268 | 1.986 | 0.104 | 7.455 | 2.196 | 0.080 |
HOR | 3.093 | 1.762 | 0.138 | 3.341 | 2.181 | 0.081 | 3.094 | 2.476 | 0.056 |