Variable

Treated

Control

%bias

t

p > t

State

0.689

0.724

−7.5

−1.19

0.23

Size

24.950

24.999

−3.4

−0.54

0.59

Roe

0.093

0.088

9.1

1.41

0.16

Lev

0.650

0.651

−1.2

−0.19

0.85

Big4

0.303

0.290

2.7

0.42

0.68

Amount

2.333

2.362

−3.7

−0.58

0.56

ATT

−0.141 (t = −3.04)