Recvinv

−0.0122

40.0015

20.4939

2.1333

1.7724

0.0046

0.0020

0.5812***

(−0.17)

(0.78)

(1.34)

(0.40)

(0.93)

(0.52)

(0.65)

(9.84)

Other rec

1.4172***

1049.6361***

131.0941

114.4372***

22.3412**

0.1514***

0.0176

−0.3839

(3.10)

(3.47)

(1.64)

(3.54)

(2.14)

(3.04)

(1.18)

(−1.24)

Size

0.1037***

74.0905***

7.3975***

5.0255***

0.1094

0.0061***

−0.0010**

0.0257***

(8.82)

(9.14)

(3.00)

(5.88)

(0.35)

(4.40)

(−2.04)

(2.83)

Growth

0.0777***

65.4766***

10.0058**

4.6566***

0.5471

0.0047*

−0.0006

0.0193

(3.44)

(4.23)

(2.00)

(2.84)

(0.88)

(1.73)

(−0.70)

(1.08)

Loss

0.0169

53.3650*

16.7192*

6.5461**

2.9464***

0.0044

0.0024

−0.0661*

(0.37)

(1.69)

(1.91)

(2.04)

(2.62)

(0.83)

(1.41)

(−1.89)

Age

−0.0027*

−1.4639

0.1491

−0.0237

0.0641*

−0.0001

0.0001

−0.0070***

(−1.84)

(−1.43)

(0.49)

(−0.22)

(1.67)

(−0.55)

(1.36)

(−6.00)

Cfo

−0.3911**

−213.9215*

9.7506

−28.3320**

−4.5985

−0.0510***

−0.0083

0.3955***

(−2.36)

(−1.90)

(0.31)

(−2.46)

(−1.17)

(−2.65)

(−1.26)

(3.21)

Audit type

0.0139

43.5594

12.3761

7.2747*

2.7799**

0.0080

0.0035

−0.0232

(0.20)

(0.99)

(1.14)

(1.66)

(2.01)

(1.10)

(1.52)

(−0.54)

Constant

−0.2467

−613.7790***

348.6679***

−4.0198

52.7010***

0.0788**

0.1264***

1.3579***

(−0.77)

(−2.75)

(5.24)

(−0.17)

(5.84)

(1.99)

(9.11)

(4.95)

Industry

year

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

N

5655

5655

5655

5655

5655

5655

5655

5655

R-sq

0.1138

0.1263

0.0801

0.1129

0.0886

0.0995

0.0900

0.3635