Table 7

Impact of corporate culture on financial reporting transparency with firm fixed effects

VariablesTRNSP1TRNSP2TRNSP3TRNSP4TRNSP5
CORPCULTURE0.459***1.362***1.153***0.129***0.012***
(0.154)(0.277)(0.227)(0.005)(0.001)
CONST and CONTROLSYesYesYesYesYes
YEAR_FEYesYesYesYesYes
INDUSTRY_FENoNoNoNoNo
FIRM_FEYesYesYesYesYes
Observations1,4801,4801,4801,4801,480
R-squared0.5720.5330.5260.5680.601
Adj R-squared0.5060.4610.4530.5020.539
F (Sig)2.434 (0.000)3.057 (0.000)2.833 (0.000)22.07 (0.000)20.78 (0.000)

Note(s): Standard errors in parentheses. Variable definitions are located in  Appendix 3. ***p < 0.01, **p < 0.05, *p < 0.10

Source(s): Table created by author

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