变量	匹配	均值		标准偏差	标准偏差	T检验
变量	匹配	处理组	对照组	%	降低幅度%	T值	P值
ROA	U	0.033	0.029	4.90	51.20	3.330	0.001
	M	0.033	0.034	−2.40	51.20	−2.100	0.035
Dev	U	−0.025	−0.043	5.50	47.00	3.620	0.000
	M	−0.025	−0.016	−2.90	47.00	−2.560	0.010
Earn	U	0.015	0.015	−2.10	−104.20	−1.320	0.187
	M	0.015	0.014	4.20	−104.20	3.600	0.000
Cash	U	0.142	0.148	−5.00	69.40	−3.260	0.001
	M	0.142	0.144	−1.50	69.40	−1.300	0.193
Outshare	U	−1.392	−1.071	−25.20	78.00	−16.540	0.000
	M	−1.391	−1.461	5.50	78.00	4.770	0.000
ROI	U	0.023	0.024	−3.20	72.00	−2.060	0.040
	M	0.023	0.024	−0.90	72.00	−0.760	0.445
SA	U	−3.832	−3.736	−41.30	94.40	−25.800	0.000
	M	−3.831	−3.826	−2.30	94.40	−1.940	0.053
Turnover	U	2.088	2.708	−36.50	99.90	−24.020	0.000
	M	2.088	2.088	0.00	99.90	0.020	0.981
Capital	U	0.227	0.218	5.30	0.70	3.400	0.001
	M	0.227	0.218	5.30	0.70	4.490	0.000
Sdret	U	0.002	0.003	−53.80	87.50	−36.530	0.000
	M	0.002	0.002	−6.70	87.50	−6.590	0.000
Indd	U	37.470	37.310	2.90	−47.60	1.860	0.063
	M	37.460	37.690	−4.30	−47.60	−3.530	0.000