Variables

Average

T-statistic

AuditOpinion = 1

AuditOpinion = 0

RiskRating

5.610

5.421

2.937***

News

1.097

1.708

−1.125

Lev

0.768

0.518

4.653***

Growth

0.425

0.366

0.178

|DA|

0.110

0.076

4.612***

Change

0.416

0.416

1.973*

ROA

−0.172

0.037

−3.678***

Big4

0.006

0.135

−13.979***

CahFlow

−0.066

0.049

−5.315***

LogAssets

21.646

23.035

−11.842***

Social

0.175

0.482

−9.523***

Cost

13.674

14.163

−9.506***