Panel A: For BIG4 auditors | ||||
| non-crisis | crisis | ||
| Mean | Std. Dev. | Mean | Std. Dev. |
Germany | 0.43 | 0.49 | 0.69 | 0.46 |
France | 0.35 | 0.47 | 0.60 | 0.49 |
Italy | 0.28 | 0.45 | 0.60 | 0.48 |
Spain | 0.32 | 0.46 | 0.77 | 0.41 |
Panel B: For non-BIG4 auditors | ||||
| non-crisis | crisis | ||
| Mean | Std. Dev. | Mean | Std. Dev. |
Germany | 0.32 | 0.46 | 0.51 | 0.50 |
France | 0.19 | 0.39 | 0.45 | 0.49 |
Italy | 0.31 | 0.46 | 0.52 | 0.50 |
Spain | 0.22 | 0.42 | 0.43 | 0.50 |