Table 2 DACT analysis by group for acquisition tax rate hikes

Date of implementation	Before or after implementation	Group1	Group2	Change of group1	Change of group2
2012-01-01	Before the implementation	0.352	0.127	−0.075	−0.033
	After the implementation	0.276	0.094
2013-01-01	Before the implementation	0.322	0.108	−0.048	−0.001
	After the implementation	0.273	0.107
2013-07-01	Before the implementation	0.268	0.152	−0.019	0.018
	After the implementation	0.249	0.170
Statistical test	Chi square	26.634…	Standardized J-T	−5.170…