Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
MAGYAR NEMZETI BANK<br />
Table 6<br />
Control and treatment group stascs<br />
Dep. varbs.<br />
Control (stable profit<br />
rao between 2 and 8<br />
per cent)<br />
Descripve stascs (mean)<br />
Treatment (stable<br />
profit rao between 0<br />
and 2 per cent)<br />
Difference between<br />
treatment and<br />
control group means<br />
Standard error for<br />
difference between<br />
means<br />
Net revenue 134.6 142.1 -7.5 7.8<br />
Operaonal profit 1.1 6.0 -4.9*** 0.3<br />
Number of employees 15.5 15.2 0.3 0.7<br />
Wage bill 21.7 23.0 -1.3 1.3<br />
Immaterial assets 0.9 0.8 0.1 0.2<br />
Tangible assets 41.7 48.0 -6.4** 2.9<br />
Balance sheet total 103.1 130.8 -27.8*** 6.9<br />
Capital share 42.6 48.8 -6.3* 2.9<br />
Age 9.6 9.5 0.1 0.1<br />
Total number of firms 4 981 3 063<br />
Note: The control group includes firms with stable profit rates, i.e. in the 2-8 per cent interval for three years (2004-2006) before the reform, and<br />
the treatment group includes firms with stable profit rates in the 0-2 per cent interval. All monetary variables are in million forints. Stars indicate<br />
stascal significance level. * = 10% level, ** = 5% level, *** = 1% level.<br />
Table 7<br />
Control and treatment group stascs<br />
Industry classificaon<br />
Descripve stascs (mean)<br />
Control (stable profit<br />
rao between 2 and 8<br />
per cent)<br />
percent<br />
Treatment (stable<br />
profit rao between 0<br />
and 2 per cent)<br />
Agricultural producon, forestry, fishing, mining 0.05 0.05<br />
Manufacturing 0.19 0.26<br />
Ulies 0.01 0.01<br />
Construcon 0.13 0.14<br />
Wholesale, retail trade 0.29 0.23<br />
Transportaon, warehousing 0.04 0.03<br />
Accommodaon services 0.03 0.05<br />
Informaon, communicaon 0.04 0.03<br />
Finance, insurance 0.01 0.00<br />
Real estate 0.03 0.02<br />
Professional, scienfic, and technical services 0.08 0.07<br />
Administrave services 0.04 0.04<br />
Educaonal services 0.01 0.01<br />
Health 0.03 0.01<br />
Arts, entertainment, recreaon 0.02 0.01<br />
Other services 0.02 0.02<br />
Total number of firms 4 981 3 063<br />
Note: The control group includes firms with stable profit rates, i.e. in the 2-8 per cent interval for three years (2004-2006) before the reform, and the<br />
treatment group includes firms with stable profit rates in the 0-2 per cent interval.<br />
34 MNB WORKING PAPERS 3 • 2016
Change language