Financial Shared Services Empower the Real Economy: The Evidence from China

Table 2

Descriptive statistics of matching results.

Variables	Matching process	Experimental group	Control group	Deviation rate (%)	Deviation reduction (%)	T value	value
Size	Before matching	23.597	21.983	121.000	97.500	26.40	0.001
	After matching	23.597	23.557	3.000		0.390	0.696
Lev	Before matching	0.504	0.433	35.300	99.000	6.720	0.001
	After matching	0.504	0.505	−0.400		−0.050	0.958
Growth	Before matching	0.203	0.219	−3.200	−113.500	−0.580	0.564
	After matching	0.203	0.236	−6.700		−0.910	0.365
FmAge	Before matching	12.441	9.344	48.500	89.400	9.580	0.001
	After matching	12.441	12.767	−5.100		−0.730	0.465
Soe	Before matching	0.488	0.411	15.400	77.300	3.090	0.002
	After matching	0.488	0.470	3.500		0.490	0.623
Top1	Before matching	39.174	35.370	24.000	90.800	5.060	0.001
	After matching	39.174	38.825	2.200		0.300	0.764
Ind	Before matching	0.384	0.372	21.500	68.300	4.610	0.001
	After matching	0.384	0.388	−6.800		−0.850	0.395
Dual	Before matching	0.171	0.239	−16.900	81.800	−3.180	0.001
	After matching	0.171	0.183	−3.100		−0.460	0.645
Board	Before matching	2.194	2.151	21.800	91.900	4.340	0.001
	After matching	2.194	2.191	1.800		0.240	0.808
Pcm	Before matching	0.103	0.104	−0.300	−7313.600	−0.050	0.963
	After matching	0.103	0.031	23.700		0.650	0.517