Table 4 Annual comparison of profit/loss...

Table 4

Annual comparison of profit/loss between the treatment and control groups

	Treatment group	Control group	t-value	No. of treatment group	No. of control group
1st year	−5.03	0.02	−2.4012**	22	120
2nd year	−7.72	0.43	−3.3324***	16	104
3rd year	−5.28	0.04	−2.2861**	18	93
4th year	−3.96	1.82	−2.0263**	11	73
5th year	0.98	1.82	−0.2535	9	62

	Treatment group	Control group	t-value	No. of treatment group	No. of control group
1st year	−5.03	0.02	−2.4012**	22	120
2nd year	−7.72	0.43	−3.3324***	16	104
3rd year	−5.28	0.04	−2.2861**	18	93
4th year	−3.96	1.82	−2.0263**	11	73
5th year	0.98	1.82	−0.2535	9	62

Note(s): *** 1% significance level; ** 5% significance level; * 10% significance level

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