Variable

Matched

Treated

Control

%bias

|bias|

t

p > |t|

V(C)

Size

U

23.15

23.07

6.200

3.080

0.00200

1.08^*

M

23.15

23.10

3.800

38.40

1.960

0.0510

1.13^*

Lev

U

0.472

0.480

−3.900

−1.920

0.0550

1.020

M

0.472

0.468

2.200

43.40

1.120

0.265

1.06^*

ROA

U

0.0488

0.0458

4.900

2.450

0.0140

1.07^*

M

0.0488

0.0477

1.800

63.70

0.900

0.369

1.040

ATO

U

0.679

0.653

5.600

2.820

0.00500

0.58^*

M

0.679

0.666

2.700

52.60

1.350

0.178

0.57^*

Cashflow

U

0.0630

0.0494

20.10

10.02

0

0.88^*

M

0.0630

0.0635

−0.900

95.70

−0.450

0.656

0.950

Indep

U

0.373

0.378

−8.300

−4.140

0

1

M

0.373

0.374

−1.800

78.50

−0.930

0.354

1.10^*

Top1

U

0.380

0.361

11.80

5.880

0

0.990

M

0.379

0.380

−0.300

97.70

−0.140

0.890

0.970

SOE

U

0.521

0.485

7.100

3.560

0

.

M

0.521

0.529

−1.600

77.60

−0.810

0.418

.

FirmAge

U

2.896

2.908

−3.700

−1.840

0.0650

0.88^*

M

2.896

2.896

0

99.80

0

0.998

0.87^*