Variables

Measurement

Sources

Audit Quality

Dummy variable 1 if big four auditor exists and 0 otherwise;

(Abdullah et al., 2008)

Corporate Governance

Board independence (percentage of non-executive directors to total directors);

(Kota & Tomar, 2010)

Leverage

Long-term debt/equity;

(Che-Ahmad & Osazuwa, 2015)

Profitability (PROF)

Profit after tax/total equity;

(Che-Ahmad & Osazuwa, 2015)

Firm Size (FSIZE)

Natural log of total assets

(Wan Hussin, Che-Adam, Lode, & Kamardin, 2005)