| Covariate Balance Before Matching | |||||
| Means, standardized mean differences, and variance ratios | |||||
| Stage |
Balance Statistics
|
||||
|---|---|---|---|---|---|
| Mean (Treated) | Mean (Control) | Std. Mean Diff. | Variance Ratio | ||
| year | Before | 2,018.250 | 2,016.606 | 0.794 | 1.000 |
| bics | Before | 2.432 | 1.947 | 0.697 | 1.640 |
| log_assets | Before | 8.793 | 8.677 | 0.059 | 1.893 |
| de_ratio | Before | 111.152 | 109.027 | 0.016 | 1.547 |
| roa | Before | 0.047 | 0.021 | 0.340 | 0.754 |
| esg | Before | 3.594 | 3.467 | 0.084 | 1.636 |
| countryAustria | Before | 0.068 | 0.030 | 0.150 | NA |
| countryBelgium | Before | 0.000 | 0.023 | −0.176 | NA |
| countryCroatia | Before | 0.000 | 0.008 | −0.101 | NA |
| countryCzech Republic | Before | 0.000 | 0.015 | −0.143 | NA |
| countryDenmark | Before | 0.091 | 0.030 | 0.211 | NA |
| countryFinland | Before | 0.023 | 0.030 | −0.051 | NA |
| countryFrance | Before | 0.114 | 0.106 | 0.024 | NA |
| countryGermany | Before | 0.091 | 0.121 | −0.105 | NA |
| countryGreat Britain | Before | 0.068 | 0.136 | −0.271 | NA |
| countryGreece | Before | 0.023 | 0.015 | 0.051 | NA |
| countryHungary | Before | 0.000 | 0.008 | −0.101 | NA |
| countryIreland | Before | 0.000 | 0.008 | −0.101 | NA |
| countryItaly | Before | 0.136 | 0.091 | 0.132 | NA |
| countryLithuania | Before | 0.023 | 0.000 | 0.152 | NA |
| countryLuxembourg | Before | 0.000 | 0.008 | −0.101 | NA |
| countryMarshall Island | Before | 0.000 | 0.008 | −0.101 | NA |
| countryNetherlands | Before | 0.023 | 0.061 | −0.254 | NA |
| countryNorway | Before | 0.091 | 0.076 | 0.053 | NA |
| countryPoland | Before | 0.045 | 0.015 | 0.145 | NA |
| countryPortugal | Before | 0.023 | 0.008 | 0.102 | NA |
| countrySpain | Before | 0.068 | 0.068 | 0.000 | NA |
| countrySweden | Before | 0.068 | 0.045 | 0.090 | NA |
| countrySwitzerland | Before | 0.045 | 0.091 | −0.218 | NA |
| Note: “Before” refers to the full sample | |||||