| Before the Departures (POST = 1) | After the Departures (POST = 1) | Differences |
The small-sized audit firm involving the departures (SFIRM = 1) | α1 + α4 | α1 + α4 + α5 + α6 | α5 + α6 |
The Big4 audit firm involving the departures (SFIRM = 0) | α1 | α1 + α5 | α5 |
Differences between Big4 and small-sized audit firms |
|
| α6 |