And marketable securities pif crisis and post crisis

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and marketable securities. PIF, Crisis and Post-Crisis are dummy variables. Robust standard errors in parentheses.Asterisks denote significance of coefficients with ***, **, and * and indicate significance at the 1%, 5% and 10% levelrespectively.42
Table 5: Balancing Test for Covariates MatchingThis table presents the results of tests that check whether the propensity scores approach is effective in groupingtogether similar firms. The result for each financial variable shown above is the average difference between PIFs andweighted non-PIFs. Differences are normalized by the pooled standard deviation of the covariate in the two samples.43
Table 6: Asian Financial Crisis: Propensity Score Weighted DID 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 g122g122g122g122g122g122g94g286g272g410g381g396g3g38g28g122g122g122g122g122g122g24g28g17g100g3g87g47g38g400g3g3g3g3g3g3g3g3g3g3g3g3g3g3g3g3g3g3g3g3g4g448g286g396g258g336g286g3g94g258g367g286g400g3g39g396g381g449g410g346g4g448g286g396g258g336g286g3g4g400g400g286g410g3g39g396g381g449g410g346g115g381g367g258g410g349g367g349g410g455g855g3g94g258g367g286g400g3g39g396g381g449g410g346g90g286g410g437g396g374g3g381g374g3g4g400g400g286g410g400g18g258g400g346g3g38g367g381g449g876g75g437g410g393g437g410g18g258g400g346g3g400g410g381g272g364g876g4g400g400g286g410g400g18g396g349g400g349g400g910g24g286g271g410g3g87g47g38g1004g856g1004g1004g1010g1004g856g1004g1005g1006g1004g856g1004g1004g1013g1004g856g1004g1004g1007g1004g856g1004g1004g1006g882g1004g856g1004g1004g1013g910g910g3g894g1004g856g1011g1008g895g894g1004g856g1013g1005g895g894g1004g856g1010g1011g895g894g1005g856g1006g1010g895g894g1004g856g1008g1005g895g894g882g1006g856g1005g1012g895g3g3g3g87g381g400g410g910g24g286g271g410g3g87g47g38g1004g856g1004g1007g1004g910g910g1004g856g1004g1008g1005g910g910g910g882g1004g856g1004g1004g1006g1004g856g1004g1005g1011g910g1004g856g1004g1005g1010g882g1004g856g1004g1004g1012g894g1006g856g1006g1004g895g894g1006g856g1010g1008g895g894g882g1004g856g1005g1007g895g894g1005g856g1010g1011g895g894g1005g856g1008g1012g895g894g882g1005g856g1004g1010g895g3g3g3g24g286g271g410g3g87g47g38g882g1004g856g1004g1004g1008g882g1004g856g1004g1005g1013g910g882g1004g856g1004g1004g1007g882g1004g856g1004g1004g1005g882g1004g856g1004g1004g1006g882g1004g856g1004g1004g1006g894g882g1004g856g1009g1005g895g894g882g1005g856g1011g1008g895g894g882g1004g856g1007g1010g895g894g882g1004g856g1007g1009g895g894g882g1004g856g1008g1009g895g894g882g1004g856g1006g1008g895g3g3g3g90g882g400g395g437g258g396g286g282g1004g856g1007g1009g1004g856g1007g1008g1004g856g1006g1007g1004g856g1006g1008g1004g856g1005g1009g1004g856g1006g1005g69g1011g1012g1004g1013g1011g1012g1004g1013g1011g1011g1006g1004g1011g1012g1004g1013g1011g1012g1004g1012g1011g1012g1004g1013g69g855g3g24g286g271g410g3g87g47g38g400g1008g1013g1008g1008g1013g1008g1008g1013g1008g1008g1013g1008g1008g1013g1008g1008g1013g1008g18g381g437g374g410g396g455g910g100g349g373g286g3g38g28 g122g122g122g122g122g122g94g286g272g410g381g396g3g38g28g122g122g122g122g122g122

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