Descriptive Statistics: Treated vs. Matched Control Firms
Type	N	Mean	Median	Std. Dev.	p-value
Assets
Green	43	33,592.240	8,928.000	88,658.900	0.196
Conventional	43	14,922.830	5,821.100	29,782.710	NA
Log(Assets)
Green	43	8.844	9.097	1.948	0.726
Conventional	43	8.718	8.669	1.318	NA
Debt-to-Equity
Green	43	112.363	79.690	136.066	0.836
Conventional	43	117.663	98.490	96.591	NA
ROA
Green	43	0.047	0.032	0.077	0.366
Conventional	43	0.035	0.029	0.039	NA
ESG Score
Green	43	3.574	3.360	1.520	0.618
Conventional	43	3.432	3.380	1.077	NA
BICS Industry Code
Green	43	2.419	3.000	0.698	0.060
Conventional	43	2.163	2.000	0.531	NA
p-values come from two-sample t-tests of mean differences. Covariates measured in t–1.