Analysis on Relationship between Accurate Poverty Alleviation and Stock Price Collapse Risk from the Perspective of Information Disclosure

Table 2

Grouped descriptive statistics.

Variable	APA1 = 1			APA1 = 0			T-statistic	Z-score
	Sample size	Mean	Medium	Sample size	Mean	Medium
Ncskew	1008	−0.367	−0.307	1307	−0.257	−0.245	−3.821	2.500
Duvol	1008	−0.234	−0.230	1307	−0.164	−0.180	−3.622	2.944
	CSE = 1			CSE = 0
Ncskew	460	−0.325	-0.313	1855	−0.300	−0.266	−3.027	3.149
Duvol	460	−0.224	-0.233	1855	−0.187	−0.188	−4.138	4.340
APA1	460	0.463	0.000	1855	0.429	0.000	4.359	3.653
APA2	460	5.808	0.000	1855	5.244	0.000	4.078	3.519
	PSE = 1			PSE = 0
Ncskew	863	−0.334	−0.287	1452	−0.287	−0.269	−4.537	4.379
Duvol	863	−0.220	−0.224	1452	−0.179	−0.182	−4.782	4.762
APA1	863	0.565	1.000	1452	0.358	0.000	9.930	8.353
APA2	863	7.171	10.463	1452	4.277	0.000	10.196	8.674

Note. The symbols , , and are the significance levels of 1%, 5%, and 10%, respectively.