| Covariate Balance Before & After Matching | |||||
| Means, standardized mean differences, and variance ratios | |||||
| Stage |
Balance Statistics
|
||||
|---|---|---|---|---|---|
| Mean (Treated) | Mean (Control) | Std. Mean Diff. | Var. Ratio | ||
| year | Before | 2,018.25 | 2,016.61 | 0.79 | 1.00 |
| bics | Before | 2.43 | 1.95 | 0.70 | 1.64 |
| log_assets | Before | 8.79 | 8.68 | 0.06 | 1.89 |
| de_ratio | Before | 111.15 | 109.03 | 0.02 | 1.55 |
| roa | Before | 0.05 | 0.02 | 0.34 | 0.75 |
| esg | Before | 3.59 | 3.47 | 0.08 | 1.64 |
| year | After | 2,018.30 | 2,016.65 | 0.80 | 1.17 |
| bics | After | 2.42 | 2.16 | 0.37 | 1.73 |
| log_assets | After | 8.84 | 8.72 | 0.06 | 2.19 |
| de_ratio | After | 112.36 | 117.66 | −0.04 | 1.98 |
| roa | After | 0.05 | 0.04 | 0.16 | 4.05 |
| esg | After | 3.57 | 3.43 | 0.09 | 1.99 |
| Note: “After” refers to the matched sample; country dummies are dropped because we matched exactly on country. | |||||