t-test statistics for the difference in means of financial performance indicators of the treatment groups of (merged) banks
| Financial performance indicator | Acquirer and target bank report | |||
|---|---|---|---|---|
| IFRS | Local GAAP | Test statistic | ||
| Mean (std. error) | Mean (std. error) | t-value (p-value) | H0 | |
| Loan loss provisions to loans | 3.3834 (0.3121) | 1.4222 (0.0423) | 8.9958 (0.0001) | Reject |
| Total assets | 17.0994 (0.1466) | 15.5318 (0.0835) | 10.0168 (0.0001) | Reject |
| Equity to assets | 8.4255 (0.6623) | 10.9643 (0.2276) | −4.3817 (0.0001) | Reject |
| Net loans to assets | 51.8297 (1.4494) | 63.6383 (0.6267) | −8.6471 (0.0001) | Reject |
| Liquid assets to deposits | 41.3045 (2.7893) | 17.0315 (2.8217) | 5.6009 (0.0001) | Reject |
| Net loans to deposits | 82.4153 (2.4569) | 85.3786 (1.4991) | −1.0893 (0.2763) | Accept |
| Bank costs to income | 68.2106 (1.8781) | 64.9867 (0.8934) | 1.7527 (0.0800) | Reject |
| Non-interest expenses to assets | 2.4721 (0.0959) | 3.4081 (0.0792) | −7.2794 (0.0001) | Reject |
| Net interest margin | 1.7393 (0.0572) | 3.4036 (0.0444) | −22.6218 (0.0001) | Reject |
| Other operating income to assets | 1.4025 (0.1102) | 1.5081 (0.0814) | −0.7706 (0.4412) | Accept |
| Return on equity | 4.9617 (1.1105) | 8.3896 (0.6029) | −2.9626 (0.0031) | Reject |
| Financial performance indicator | Acquirer and target bank report | |||
|---|---|---|---|---|
| IFRS | Local GAAP | Test statistic | ||
| Mean (std. error) | Mean (std. error) | H0 | ||
| Loan loss provisions to loans | 3.3834 (0.3121) | 1.4222 (0.0423) | 8.9958 (0.0001) | Reject |
| Total assets | 17.0994 (0.1466) | 15.5318 (0.0835) | 10.0168 (0.0001) | Reject |
| Equity to assets | 8.4255 (0.6623) | 10.9643 (0.2276) | −4.3817 (0.0001) | Reject |
| Net loans to assets | 51.8297 (1.4494) | 63.6383 (0.6267) | −8.6471 (0.0001) | Reject |
| Liquid assets to deposits | 41.3045 (2.7893) | 17.0315 (2.8217) | 5.6009 (0.0001) | Reject |
| Net loans to deposits | 82.4153 (2.4569) | 85.3786 (1.4991) | −1.0893 (0.2763) | Accept |
| Bank costs to income | 68.2106 (1.8781) | 64.9867 (0.8934) | 1.7527 (0.0800) | Reject |
| Non-interest expenses to assets | 2.4721 (0.0959) | 3.4081 (0.0792) | −7.2794 (0.0001) | Reject |
| Net interest margin | 1.7393 (0.0572) | 3.4036 (0.0444) | −22.6218 (0.0001) | Reject |
| Other operating income to assets | 1.4025 (0.1102) | 1.5081 (0.0814) | −0.7706 (0.4412) | Accept |
| Return on equity | 4.9617 (1.1105) | 8.3896 (0.6029) | −2.9626 (0.0031) | Reject |
Note(s): The null hypothesis is that the difference in the mean of the financial performance indicator is not significantly different from zero
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