DT = 0 (1)

DT = 1 (2)

Diff [(1)-(2)]

Diff [(1)-(2)]

Variable

Mean

Median

Mean

Median

Mean

T-value

Median

Z-value

Capx

0.121

0.0734

0.0947

0.0560

0.0264***

7.8429

0.0174***

8.221