Table 1

Test of difference between the REM of non-parent firms and parent firms

VariableNonparent firmsParent firmsDifferencep>|t|
NMeanSDNMeanSD
REM1 (Ab_CFO)3,688−0.0190.19225,120−0.0020.194−0.0170.000
REM2 (Ab_Prod)2,7800.0530.25018,696−0.0090.2170.0620.000
REM3 (Ab_DisExp)3,2660.1330.82217,064−0.0150.7430.1480.000

Note(s): Assuming unequal variance

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