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\ p None B a = c @ = Z ?N*8 X" 1 Arial1 Arial1 Arial1 Arial1 Arial1 Arial1 Arial General ` Table_3 Fn M 8 Panel A - Descriptive Statistics Treated (n=76) Mean Median# Standard Deviation Minimum Maximum ln (assets) 14.04 13.88 1.99 10.46 17.78 Leverage 0.25 0.23 0.14 0.00 0.61 Net Income/assets 0.04 0.09 -0.32 0.20
EBIT/sales 0.15 0.11 -0.42 0.94 PPE/sales 1.44 0.81 2.31 0.12 11.23 EBIT/assets 0.08 -0.16 0.27 Control (n=76) 14.60 14.53 0.99 12.60 16.74 0.45 0.05 -0.03 0.21 0.30 -0.48 0.74 2.24 2.89 0.07 0.06 -0.05- Panel B - Correlation Matrix% ln (assets) Leverage# Net Income/ assets EBIT/ sales PPE/sales 0.15* 1.00 0.35*** -0.01 0.27*** 0.45*** 0.33*** 0.01 -0.14 0.29*** 0.15* 0.71*** 0.62*** -0.21**
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