How Does Foreign Equity Right Impact Manufacturing Enterprise Innovation Behaviors? Mediation Test Based on Technology Introduction

Table 5

Estimation results of propensity score matching.

	Group with FER	Group without FER	ATT value	T value
Before matching	0.554	0.426	0.129	2.41
After matching	0.554	0.444	0.111	2.05

“Before matching” refers to the samples without the implementation of PSM. “After matching” refers to the samples after PSM matching. ^∗∗indicates significance at the confidence level of 5%.