| Covariate Balance After Matching | |||||
| Means, standardized mean differences, and variance ratios | |||||
| Stage |
Balance Statistics
|
||||
|---|---|---|---|---|---|
| Mean (Treated) | Mean (Control) | Std. Mean Diff. | Variance Ratio | ||
| year | After | 2,018.302 | 2,016.651 | 0.798 | 1.165 |
| bics | After | 2.419 | 2.163 | 0.368 | 1.725 |
| log_assets | After | 8.844 | 8.718 | 0.064 | 2.187 |
| de_ratio | After | 112.363 | 117.663 | −0.039 | 1.984 |
| roa | After | 0.047 | 0.035 | 0.157 | 4.047 |
| esg | After | 3.574 | 3.432 | 0.094 | 1.990 |
| countryAustria | After | 0.070 | 0.070 | 0.000 | NA |
| countryBelgium | After | 0.000 | 0.000 | 0.000 | NA |
| countryCroatia | After | 0.000 | 0.000 | 0.000 | NA |
| countryCzech Republic | After | 0.000 | 0.000 | 0.000 | NA |
| countryDenmark | After | 0.093 | 0.093 | 0.000 | NA |
| countryFinland | After | 0.023 | 0.023 | 0.000 | NA |
| countryFrance | After | 0.116 | 0.116 | 0.000 | NA |
| countryGermany | After | 0.093 | 0.093 | 0.000 | NA |
| countryGreat Britain | After | 0.070 | 0.070 | 0.000 | NA |
| countryGreece | After | 0.023 | 0.023 | 0.000 | NA |
| countryHungary | After | 0.000 | 0.000 | 0.000 | NA |
| countryIreland | After | 0.000 | 0.000 | 0.000 | NA |
| countryItaly | After | 0.140 | 0.140 | 0.000 | NA |
| countryLithuania | After | 0.000 | 0.000 | 0.000 | NA |
| countryLuxembourg | After | 0.000 | 0.000 | 0.000 | NA |
| countryMarshall Island | After | 0.000 | 0.000 | 0.000 | NA |
| countryNetherlands | After | 0.023 | 0.023 | 0.000 | NA |
| countryNorway | After | 0.093 | 0.093 | 0.000 | NA |
| countryPoland | After | 0.047 | 0.047 | 0.000 | NA |
| countryPortugal | After | 0.023 | 0.023 | 0.000 | NA |
| countrySpain | After | 0.070 | 0.070 | 0.000 | NA |
| countrySweden | After | 0.070 | 0.070 | 0.000 | NA |
| countrySwitzerland | After | 0.047 | 0.047 | 0.000 | NA |
| Note: “After” to the matched sample. | |||||