Table 6 Average treatment effect on the... | Emerald Publishing

Table 6

Average treatment effect on the treated

Panel A.1: Average treatment effect on the treated (ATT) using nearest-neighbor
Variable	Treatment	Controls	Difference	S.E.	T-stat
SI	0.321	0.218	0.103	0.021	4.870

Panel A.2: Comparison of variable averages under PSM
Variable	Matched	Treated	Control	t	p > t
DFL	Unmatched	−0.114	0.025	−6.300	0.000
DFL	Matched	−0.114	−0.145	1.090	0.276
Gender	Unmatched	0.394	0.518	−7.920	0.000
Gender	Matched	0.394	0.389	0.250	0.803
Age	Unmatched	35.333	43.391	−17.130	0.000
Age	Matched	35.333	35.859	−1.080	0.281
Education	Unmatched	3.691	3.160	16.440	0.000
Education	Matched	3.691	3.708	−0.520	0.602
Employment status	Unmatched	0.771	0.638	8.970	0.000
Employment status	Matched	0.771	0.762	0.530	0.597
Income	Unmatched	2.105	1.834	9.520	0.000
Income	Matched	2.105	2.092	0.350	0.724

Panel A.2: Comparison of variable averages under PSM
Variable	Matched	Treated	Control	t	p > t
DFL	Unmatched	−0.114	0.025	−6.300	0.000
DFL	Matched	−0.114	−0.145	1.090	0.276
Gender	Unmatched	0.394	0.518	−7.920	0.000
Gender	Matched	0.394	0.389	0.250	0.803
Age	Unmatched	35.333	43.391	−17.130	0.000
Age	Matched	35.333	35.859	−1.080	0.281
Education	Unmatched	3.691	3.160	16.440	0.000
Education	Matched	3.691	3.708	−0.520	0.602
Employment status	Unmatched	0.771	0.638	8.970	0.000
Employment status	Matched	0.771	0.762	0.530	0.597
Income	Unmatched	2.105	1.834	9.520	0.000
Income	Matched	2.105	2.092	0.350	0.724

Panel B.1: Average treatment effect on the treated (ATT) using nearest-neighbor matching with Mahalanobis distance
Variable	Treated	Controls	Difference	S.E.	T-stat
SI	0.321	0.221	0.100	0.019	5.140

Panel B.2: Comparison of variable averages under PSM
Variable	Matched	Treated	Control	t	p > t
DFL	Unmatched	−0.114	0.025	−6.300	0.000
DFL	Matched	−0.114	−0.104	−0.370	0.712
Gender	Unmatched	0.394	0.518	−7.920	0.000
Gender	Matched	0.394	0.394	0.000	1.000
Age	Unmatched	35.333	43.391	−17.130	0.000
Age	Matched	35.333	35.466	−0.280	0.780
Education	Unmatched	3.691	3.160	16.440	0.000
Education	Matched	3.691	3.687	0.130	0.901
Employment status	Unmatched	0.771	0.638	8.970	0.000
Employment status	Matched	0.771	0.771	0.000	1.000
Income	Unmatched	2.105	1.834	9.520	0.000
Income	Matched	2.105	2.104	0.020	0.981

Panel B.2: Comparison of variable averages under PSM
Variable	Matched	Treated	Control	t	p > t
DFL	Unmatched	−0.114	0.025	−6.300	0.000
DFL	Matched	−0.114	−0.104	−0.370	0.712
Gender	Unmatched	0.394	0.518	−7.920	0.000
Gender	Matched	0.394	0.394	0.000	1.000
Age	Unmatched	35.333	43.391	−17.130	0.000
Age	Matched	35.333	35.466	−0.280	0.780
Education	Unmatched	3.691	3.160	16.440	0.000
Education	Matched	3.691	3.687	0.130	0.901
Employment status	Unmatched	0.771	0.638	8.970	0.000
Employment status	Matched	0.771	0.771	0.000	1.000
Income	Unmatched	2.105	1.834	9.520	0.000
Income	Matched	2.105	2.104	0.020	0.981

Source(s): Authors' own work