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Table 3 Balance tests of the matched sample

From: Does communication increase investors’ trading frequency? Evidence from a Chinese social trading platform

  Treat Control Diff p-value
Trades 0.5854 0.5980 − 0.0496 0.3107
Turnover 0.5095 0.5330 − 0.0235 0.2273
Return − 0.0014 − 0.0014 0.0000 0.8316
\(Return\ SD\) 0.0123 0.0123 0.0000 0.7837
No.securities 1.6511 1.6496 0.0015 0.9518
No.followers 0.1016 0.1065 − 0.0049 0.5225
\(Portfolio\ age\) 3.4933 3.4789 0.0140 0.4154
  1. This table reports the balance tests of the PSM procedure.
  2. The first two columns report the average values of the covariates for treated and control groups, respectively. The last two columns report the mean differences and p values of t-tests for the mean differences of the covariates between treated and control groups, respectively