Sample selection
| Details | # of observations |
|---|---|
| Matching sample with Audit Analytics, Board Analyst and COMPUSTAT Capital IQ | 43,049 |
| Less: Missing Observations among Audit Analytics, Board Analyst and COMPUSTAT Capital IQ | (20,541) |
| Remaining firm-year observation | 22,508 |
| Less: Firm with SIC code 6000-6999 (Financial Institutes) | (3,112) |
| After excluding missing and financial institutions | 19,396 |
| Less: Missing sample from IBES, which attributes COC sample | (11,172) |
| Final Sample (total unique firms = 1,344) | 8,224 |
| Details | # of observations |
|---|---|
| Matching sample with Audit Analytics, Board Analyst and COMPUSTAT Capital IQ | 43,049 |
| (20,541) | |
| Remaining firm-year observation | 22,508 |
| (3,112) | |
| After excluding missing and financial institutions | 19,396 |
| (11,172) | |
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