Variables | (1) | (2) | (3) | (4) |
Total sample | Total sample | No duality | Duality | |
Culture | −0.101** | −0.128*** | −0.090*** | −0.334*** |
(−2.234) | (−4.041) | (−2.673) | (−3.927) | |
size | 0.373*** | 0.377*** | 0.357*** | |
(49.301) | (56.390) | (24.454) | ||
debt | −0.095** | −0.062 | −0.218** | |
(−2.421) | (−1.301) | (−2.456) | ||
roa | −0.139 | −0.274* | 0.213 | |
(−1.059) | (−1.667) | (0.683) | ||
caset 2 | −0.104** | −0.093* | −0.269** | |
(−2.216) | (−1.743) | (−2.391) | ||
loss | 0.060** | 0.047 | 0.113* | |
(2.380) | (1.594) | (1.889) | ||
listtime | −0.003 | −0.018 | 0.055* | |
(−0.195) | (−1.229) | (1.937) | ||
ownership | −0.043*** | −0.045*** | −0.008 | |
(−3.426) | (−3.185) | (−0.232) | ||
Big 4/big 5 | 0.607*** | 0.569*** | 0.751*** | |
(14.324) | (17.377) | (10.092) | ||
audittenure | 0.001 | 0.005 | −0.025 | |
(0.098) | (0.431) | (−1.096) | ||
autype | −0.130*** | −0.142*** | −0.067 | |
(−4.591) | (−3.510) | (−0.993) | ||
age | 17.135 | 12.796 | 41.755 | |
(1.234) | (0.798) | (1.281) | ||
tenure | 0.004 | 0.007 | 0.007 | |
(0.282) | (0.503) | (0.214) | ||
Constant | 13.411*** | −61.441 | −44.564 | −157.340 |
(355.596) | (−1.134) | (−0.712) | (−1.236) | |
Year | Yes | Yes | Yes | Yes |
Industry | Yes | Yes | Yes | Yes |
Adj.−R2 | 0.179 | 0.622 | 0.630 | 0.623 |
N | 6249 | 5530 | 4460 | 962 |
Chi2 |
|
| 7.86*** |