Regression results (for H2: Audit report lag and proximity)
| Variables | Model-3 | Model-4 |
|---|---|---|
| ARL | ARL | |
| lnProx KM | 0.026* | |
| lnProx min | 0.033* (0.017) | |
| Chair gen | −0.167** (0.080) | −0.165** (0.080) |
| FD ratio | 0.093 (0.116) | 0.084 (0.116) |
| lnAC size | −0.022 (0.058) | −0.026 (0.058) |
| lnFirm age | −0.043 (0.039) | −0.044 (0.039) |
| Audit ten | −0.001 (0.021) | −0.001 (0.021) |
| lnFirm size | −0.020 (0.016) | −0.019 (0.016) |
| ROA | −0.697* (0.402) | −0.695* (0.402) |
| YearEndDec31 | 0.378*** (0.107) | 0.374*** (0.107) |
| BIG4 | −0.060* (0.034) | −0.060* (0.034) |
| IDR | 0.114 (0.172) | 0.119 (0.172) |
| Constant | 5.488*** (0.348) | 5.544*** (0.350) |
| Observations | 469 | 469 |
| Adjusted R-squared | 0.134 | 0.135 |
| YearFE | Yes | Yes |
| IndustryFE | Yes | Yes |
| Prob>F | 0.000 | 0.000 |
| Variables | Model-3 | Model-4 |
|---|---|---|
| ARL | ARL | |
| lnProx KM | 0.026 | |
| lnProx min | 0.033 | |
| Chair gen | −0.167 | −0.165 |
| FD ratio | 0.093 (0.116) | 0.084 (0.116) |
| lnAC size | −0.022 (0.058) | −0.026 (0.058) |
| lnFirm age | −0.043 (0.039) | −0.044 (0.039) |
| Audit ten | −0.001 (0.021) | −0.001 (0.021) |
| lnFirm size | −0.020 (0.016) | −0.019 (0.016) |
| ROA | −0.697 | −0.695 |
| YearEndDec31 | 0.378 | 0.374 |
| BIG4 | −0.060 | −0.060 |
| IDR | 0.114 (0.172) | 0.119 (0.172) |
| Constant | 5.488 | 5.544 |
| Observations | 469 | 469 |
| Adjusted | 0.134 | 0.135 |
| YearFE | Yes | Yes |
| IndustryFE | Yes | Yes |
| Prob>F | 0.000 | 0.000 |
***p < 0.01; **p < 0.05; *p < 0.1 (Standard errors in parentheses)
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