Table 6 Matching tests results for covariates after treatment.

Covariates		Mean		Variance		Standardized Mean Difference (SMD)	Difference in means t-test p-value
Covariates		Treatment group	Control group	Treatment group	Control group	Standardized Mean Difference (SMD)	Difference in means t-test p-value
Gender	Before After	0.650 0.653	0.389 0.653	0.228 0.228	0.239 0.228	0.039 0	0.000 1
Age	Before After	1.595 1.590	1.739 1.590	0.272 0.275	0.293 0.285	−0.019 0	0.007 1
Education	Before After	2.050 2.037	1.803 2.037	0.459 0.470	0.446 0.478	0.026 0	0.000 1
Whether a CPC member or not	Before After	0.250 0.226	0.162 0.226	0.188 0.176	0.137 0.176	0.014 0	0.030 1
Whether enterprise operation or not	Before After	0.340 0.347	0.182 0.347	0.226 0.228	0.150 0.228	0.024 0	0.000 1
Whether registered trademark or not	Before After	0.455 0.463	0.280 0.463	0.249 0.250	0.203 0.250	0.025 0	0.000 1
Duration of e-commerce business	Before After	1.821 1.832	1.674 1.832	0.588 0.596	0.607 0.635	0.014 0	0.059 1
Main e-commerce formats	Before After	0.525 0.584	0.455 0.584	0.593 0.604	0.389 0.620	0.006 0	0.047 1
Main product types	Before After	0.260 0.253	0.286 0.253	0.194 0.190	0.205 0.190	−0.004 0	0.560 1

Notes: \(SMD=(\overline{{X}_{t}}-\overline{{X}_{c}})/\sqrt{[{S}_{t}^{2}({n}_{t}-1)+{S}_{c}^{2}({n}_{c}-1)/({n}_{t}+{n}_{c}-2)]}\), where \(\overline{{X}_{t}}\) and \(\overline{{X}_{c}}\) are the means of the variables in the treatment and control groups respectively, \({S}_{t}^{2}\) and \({S}_{c}^{2}\) are the variances of the variables in the treatment and control groups respectively, and n_t and n_c are the sample sizes of the treatment and control groups respectively (Zeng et al., 2024).

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