Variables | N | Median before | Median after | Median change | z-Statistic |
Sales growth | 40 | 0.22 | 0.10 | −0.12 | 3.2*** |
Capital expenditure growth | 40 | 0.30 | 0.12 | −0.22 | 2.4 ** |
Total debt ratio | 40 | −0.03 | 0.04 | 0.08 | 1.1 |