Variable name	Sample type	Average value		%bias (difference)	\|bias\|	t-test
Variable name	Sample type	Treated	Control	%bias (difference)	\|bias\|	t	p > \|t\|
Top1	Unmatched	38.537	36.860	10.8	85.6	2.20	0.028
Top1	Matched	38.528	38.286	1.6	85.6	0.28	0.781
Financial	Unmatched	0.466	0.453	5.2	70.0	1.04	0.299
Financial	Matched	0.465	0.469	−1.6	70.0	−0.28	0.783
ROE	Unmatched	0.076	0.061	14.2	84.9	2.80	0.005
ROE	Matched	0.076	0.074	2.2	84.9	0.43	0.669
Inassets	Unmatched	0.056	0.046	18.7	97.4	3.84	0.000
Inassets	Matched	0.055	0.055	−0.5	97.4	−0.08	0.937
Cash	Unmatched	0.188	0.211	−9.9	71.9	−1.96	0.050
Cash	Matched	0.188	0.182	2.8	71.9	0.55	0.585
Magin	Unmatched	0.263	0.253	6.3	13.1	1.25	0.211
Magin	Matched	0.263	0.271	−5.4	13.1	−0.98	0.325
State	Unmatched	0.538	0.549	−2.1	55.6	−0.42	0.672
State	Matched	0.539	0.544	−0.9	55.6	−0.17	0.866