[Retracted] Minimum Shareholding Proportion of Equity Funds and Stock Volatility Evidence from a Quasi-Natural Experiment

Table 1

Analysis of characteristics differences between equity fund holding companies and other companies before the implementation of the MEASURES.

Variables	Control group		Treatment group
	Observers	Mean	Observers	Mean	Diff
VOL	13554	11.06	1886	10.92	0.136
LMV	13554	22.08	1886	23.09	-1.011
PB	13554	3.741	1886	4.402	0.661
LEV	13554	60.22	1886	45.64	14.58
EPS	13554	0.324	1886	0.646	0.322

Note. The symbols , , and mean significant at the level of 10%, 5%, and 1%, respectively.