Variable	Panel A: STAR			Panel B: CONTROL
Variable	Obs	Mean	Std. Dev.	Obs	Mean	Std. Dev.
Earnings	858	83.412	302.031	679	744.835	3574.037
CE	858	76.836	258.495	679	645.661	3464.097
NR	858	6.576	129.721	679	186.802	535.839
D1	858	0.084	0.277	679	0.277	0.448
D2	858	0.178	0.383	679	0.1	0.3
D1CE	858	−18.233	99.645	679	239.136	999.106
D2NR	858	−12.147	97.549	679	−28.28	205.13
LEV	858	0.358	0.209	679	0.505	0.425
OWN	858	0.056	0.23	679	0.193	0.395
ROE	858	0.147	0.567	679	0.009	0.352
COVID	858	0.755	0.43	679	0	0
AGE	858	11.538	5.007	679	7.027	10.167