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Table 4 Information content of voluntary disclosures

From: Voluntary disclosures and peer-to-peer lending decisions: Evidence from the repeated game

 UnfundedFundedMean.Diff.
NMeanStd.DevNMeanStd.DevMean.Diff.Std.Dev
Score11413.0131.65327942.8081.9390.205***3.136 
Stwords11410.4790.50027940.4810.500−0.002−0.122 
Consumption11410.3660.48227940.1860.3890.180***12.265 
Operation11410.2610.43927940.2550.4360.0060.413 
Income11410.2820.45027940.2230.4160.060***3.979 
Taobao11410.0230.14927940.0690.254−0.046***−5.77 
Credibility11410.1580.36527940.2060.404−0.048***−3.477 
Stability11410.3840.48727940.3970.489−0.013−0.781 
Family11410.1140.31827940.0560.2300.058***6.402 
Quality11410.3420.47527940.1980.3980.144***9.734 
Enterprise11410.3800.48627940.3880.487−0.007−0.424 
Morality11410.0680.25227940.0640.2440.0050.537 
  1. Notes. This table presents the summary statistics of voluntary disclosures by whether the loan is funded or not. *, **, *** represents 10%, 5% and 1% confidence levels, respectively