VIDYASAGAR UNIVERSITY JOURNAL OF COMMERCE
VIDYASAGAR UNIVERSITY JOURNAL OF COMMERCE
VIDYASAGAR UNIVERSITY JOURNAL OF COMMERCE
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ENHANCING PR<strong>OF</strong>ITABILITY AND SHAREHOLDER VALUE THROUGH MERGER – A CASE STUDY <strong>OF</strong> ICICI BANK<br />
Table-7: Coefficients of Regression equations [Dependent variable: Residual MVA]<br />
(considering trend effect in selected variables)<br />
Res.<br />
MVA<br />
Cons<br />
tant<br />
0.09<br />
(0.48)<br />
0.08<br />
(0.88)<br />
0.06<br />
(0.64)<br />
-0.69<br />
(-1.69)<br />
1.73<br />
(4.62)<br />
EVA<br />
-0.004<br />
(-0.63)<br />
-0.004<br />
(-1.29)<br />
-0.003<br />
(-0.94)<br />
-0.004<br />
(-1.7)<br />
-<br />
0.03***<br />
(-7.79)<br />
Res.<br />
MCap<br />
1.19*<br />
(4.73)<br />
1.08**<br />
(3.18)<br />
0.91***<br />
(3.40)<br />
1.73**<br />
(12.73)<br />
Res.<br />
CapEmp<br />
-0.001<br />
(-0.58)<br />
-0.0005<br />
(0.24)<br />
-0.003<br />
(-4.37)<br />
Rel.<br />
Pr.<br />
6.55<br />
(1.88)<br />
-18.82<br />
(-4.85)<br />
Res.<br />
Yield<br />
-0.0001***<br />
(-6.65)<br />
Ro<br />
NW<br />
Adj.<br />
R 2<br />
F<br />
-0.11 0.39<br />
0.79 12.20**<br />
0.75 6.90***<br />
0.86 10.41***<br />
0.99 197.19**<br />
1.06 -0.02 1.50 -0.002 -11.61 -0.0001 -0.003 1.00 -<br />
(-) (-) (-) (-) (-) (-) (-)<br />
[Res. = residual]<br />
(t-values are provided in parenthesis)<br />
*significant at 1% level **significant at 5% level ***significant at 10% level<br />
Table-8: Coefficients of Regression equation [Dependent variable: EVA]<br />
(considering trend effect in selected variables)<br />
Constant Res. Rel. Pr. Res. RoNW Adj. R 2 F<br />
CapEmp<br />
Yield<br />
EVA 73.55 -0.18 -791.84 -0.005*** 0.004 0.69 4.26<br />
(1.43) (-0.73) (-1.50) (-3.67) (1.00)<br />
[Res. = residual]<br />
(t-values are provided in parenthesis)<br />
***significant at 10% level<br />
Table-9: Coefficients of Regression equation [Dependent variable: Rel. Pr.]<br />
(considering trend effect in selected variables)<br />
Constant EVA Res. Res. RoNW Adj. R 2 F<br />
CapEmp Yield<br />
Rel. 0.09* -0.0007 -0.0003 -0.00005 0.0004 0.70 4.57<br />
Pr. (9.53) (-1.50) (-2.00) (-2.29) (0.58)<br />
[Res. = residual]<br />
(t-values are provided in parenthesis)<br />
*significant at 1% level<br />
78 Vidyasagar University Journal of Commerce
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