|
| 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 |