ROE

did

treat

post

Size

Lev

Cashflow

Growth

Top1

SOE

ROE

1.000

did

0.004

1.000

treat

0.020^**

0.813^***

1.000

post

−0.031^***

0.405^***

0.009

1.000

Size

0.074^***

−0.038^***

−0.062^***

0.024^***

1.000

Lev

−0.209^***

0.008

0.000

−0.001

0.537^***

1.000

Cashflow

0.310^***

0.035^***

0.052^***

0.004

0.048^***

−0.167^***

1.000

Growth

0.246^***

0.002

0.018^**

−0.032^***

0.045^***

0.032^***

0.024^***

1.000

Top1

0.148^***

−0.031^***

−0.026^***

−0.036^***

0.163^***

0.039^***

0.106^***

−0.010

1.000

SOE

−0.028^***

−0.126^***

−0.139^***

−0.057^***

0.406^***

0.259^***

−0.009

−0.070^***

0.249^***

1.000