Independent sample t-test of probabilities to file for TDR between distressed and non-distressed firms for overall sample
| Observational period | t-statistics |
|---|---|
| 2011 | 5.356*** |
| 2012 | 6.178*** |
| 2013 | 7.738*** |
| 2014 | 6.714*** |
| 2015 | 9.628*** |
| 2016 | 11.365*** |
| 2017 | 13.426*** |
| 2018 | 11.721*** |
| 2019 | 13.816*** |
| Observational period | |
|---|---|
| 2011 | 5.356*** |
| 2012 | 6.178*** |
| 2013 | 7.738*** |
| 2014 | 6.714*** |
| 2015 | 9.628*** |
| 2016 | 11.365*** |
| 2017 | 13.426*** |
| 2018 | 11.721*** |
| 2019 | 13.816*** |
Note(s): *** represent significance level at 1%
Source(s): Table created by author
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