Variables | Model 11 | Model 12 |
Frequency of merger | 0.15(0.311) | −0.123*(0.066) |
Domestic merger | −0.249(0.154) | −0.104(0.229) |
Transaction value | −0.031(0.275) | −0.012(0.39) |
Relative size | −0.002(0.115) | 0.00(0.083) |
ΔROA[t + 1, t + 36] | 20.320***(0.0001) | 25.21***(0.0001) |
ΔEfficiency[t + 1, t + 36] | 0.00(0.898) | 0.00(0.782) |
ΔLoan ratio[t + 1, t + 36] | −0.184(0.792) | 1.062(0.125) |
ΔRisk[t + 1, t + 36] | 0.155***(0.008) | 0.007(0.96) |
ΔCapital ratio[t + 1, t + 36] | 2.103**(0.042) | −1.062(0.408) |
ΔDeposit ratio[t + 1, t + 36] | 0.054**(0.045) | 0.018(0.363) |
ΔAssets growth[t + 1, t + 36] | 0.156 (0.538) | −0.179(0.346) |
Intercept | 0.11(0.385) | 0.081(0.436) |
Observations | 165 | 190 |
Adj R-Squared | 0.0681 | 0.2032 |