Table A1 PSM-DID balance test.
From: Green finance policy and corporate carbon emissions: advancing corporate sustainability
Variable | Unmatched/Matched | Mean | %Bias | t-values | p-values | |
|---|---|---|---|---|---|---|
Treated | Control | |||||
Growth | U | 0.159 | 0.147 | 3.90 | 2.04 | 0.042 |
M | 0.157 | 0.156 | 0.40 | 0.17 | 0.867 | |
Fixed | U | 0.234 | 0.253 | −12.2 | −6.28 | 0.000 |
M | 0.235 | 0.235 | 0.30 | 0.15 | 0.884 | |
Inv | U | 0.132 | 0.135 | −3.20 | −1.66 | 0.096 |
M | 0.132 | 0.130 | 1.90 | 0.87 | 0.383 | |
Rec | U | 0.131 | 0.115 | 16.4 | 8.54 | 0.000 |
M | 0.129 | 0.128 | 0.20 | 0.09 | 0.929 | |
Cashflow | U | 0.054 | 0.051 | 6.00 | 3.13 | 0.002 |
M | 0.054 | 0.053 | 1.60 | 0.7 | 0.486 | |
Roa | U | 0.046 | 0.042 | 6.40 | 3.36 | 0.001 |
M | 0.045 | 0.046 | −0.1 | −0.06 | 0.956 | |
Size | U | 22.365 | 0.552 | −14.7 | −7.53 | 0.000 |
M | 22.372 | 0.358 | 1.00 | 0.48 | 0.632 | |
Lev | U | 0.418 | 0.429 | −5.70 | −2.97 | 0.003 |
M | 0.417 | 0.416 | 0.60 | 0.25 | 0.803 | |
Ato | U | 0.684 | 0.653 | 8.00 | 4.17 | 0.000 |
M | 0.677 | 0.669 | 2.00 | 0.89 | 0.373 | |
