Table A3.
Balancing test of survey date randomization.
| (a) Characteristics of respondents in later week compared to individuals in the analysis sample | |||||||
|---|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | (6) | ||
| VARIABLES | ln(firm emp) | ln(estab emp) | ln(caiptal) | ln(sales) | age | male | |
| later group | 0.01 | 0.01 | 0.05 | 0.02 | 0.10 | 0.00 | |
| (0.01) | (0.01) | (0.03) | (0.02) | (0.25) | (0.01) | ||
| Observations | 6108 | 6086 | 4886 | 5256 | 6108 | 6108 | |
| R-squared | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |
| Mean dep var | 1.079 | 1.067 | 1.191 | 3.528 | 55.45 | 0.879 | |
| (b) Characteristics of respondents in later week compared to individuals in the analysis sample (continued) | |||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | |
| expected | expected | expected | expected | ||||
| sales growth | sales growth | sales growth | sales growth | ||||
| in Jan 2020 | in Feb 2020 | in March 2020 | in April 2020 | ||||
| lifted | compared to | compared to | compared to | compared to | investment | ||
| VARIABLES | self-employed | on May 14 | the last year | the last year | the last year | the last year | in Q1>0 |
| later group | 0.00 | 0.00 | 0.67 | 0.11 | 0.05 | 1.68 | 0.00 |
| (0.01) | (0.01) | (0.62) | (0.72) | (0.98) | (1.22) | (0.01) | |
| Observations | 6,108 | 6,108 | 6,108 | 6,108 | 6,108 | 6,108 | 6,076 |
| R-squared | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| Mean dep var | 0.802 | 0.476 | 0.0359 | 3.040 | 10.42 | 18.63 | 0.269 |
Notes: “Satisfying criteria” in Panel (b) means the sample satisfying criteria except for employment size, because only firms with 20 or fewer employees are used in this analysis. “Later group” in Panels (c) and (d) indicates samples from the later survey sent on May 15 compared with the samples from the earlier survey sent on May 8.