Regression results of family member involvement in management on audit fees
| Variables | Model 7 | Model 8 | Model 9 |
|---|---|---|---|
| Whole period (2015–2022) | Pre-COVID (2015–2018) | Post-COVID (2019–2022) | |
| FAMILYMAG | −0.1575***(−3.57) | −0.1656***(−3.63) | −0.1792***(−4.20) |
| FAMILYMAG*COVID-19 | −0.0288 (−0.48) | ||
| COVID-19 | 0.1322***(8.75) | ||
| BODMEET | 0.0185***(10.21) | 0.0213***(8.27) | 0.0160***(6.25) |
| BODSIZE | 0.0474***(5.33) | 0.0378**(3.11) | 0.0607***(4.62) |
| IDR | 0.0073***(3.52) | 0.0065*(2.29) | 0.0090**(2.96) |
| INVESTPROP | 0.0033***(15.53) | 0.0036***(11.75) | 0.0031***(10.35) |
| LEV | 0.9036***(28.16) | 0.8555***(18.11) | 0.9345***(21.38) |
| ROE | 0.4697***(4.75) | 0.8712***(5.87) | 0.1462(1.11) |
| INVR | −0.1424***(−4.37) | −0.1122*(−2.43) | −0.1605***(−3.48) |
| FIRMAGE | 0.0031**(2.82) | −0.0001(−0.03) | 0.0057***(3.78) |
| BIG4 | 0.4791***(16.46) | 0.4656***(9.48) | 0.4891***(13.59) |
| _cons | 12.4078***(84.83) | 12.5281***(62.67) | 12.3606***(57.72) |
| N | 6,219 | 3,039 | 3,180 |
| adj. R2 | 0.2901 | 0.2704 | 0.2884 |
| F | 212.7810 | 113.6004 | 129.8118 |
| Variables | Model 7 | Model 8 | Model 9 |
|---|---|---|---|
| Whole period (2015–2022) | Pre-COVID (2015–2018) | Post-COVID (2019–2022) | |
| FAMILYMAG | −0.1575***(−3.57) | −0.1656***(−3.63) | −0.1792***(−4.20) |
| FAMILYMAG*COVID-19 | −0.0288 (−0.48) | ||
| COVID-19 | 0.1322***(8.75) | ||
| BODMEET | 0.0185***(10.21) | 0.0213***(8.27) | 0.0160***(6.25) |
| BODSIZE | 0.0474***(5.33) | 0.0378**(3.11) | 0.0607***(4.62) |
| IDR | 0.0073***(3.52) | 0.0065*(2.29) | 0.0090**(2.96) |
| INVESTPROP | 0.0033***(15.53) | 0.0036***(11.75) | 0.0031***(10.35) |
| LEV | 0.9036***(28.16) | 0.8555***(18.11) | 0.9345***(21.38) |
| ROE | 0.4697***(4.75) | 0.8712***(5.87) | 0.1462(1.11) |
| INVR | −0.1424***(−4.37) | −0.1122*(−2.43) | −0.1605***(−3.48) |
| FIRMAGE | 0.0031**(2.82) | −0.0001(−0.03) | 0.0057***(3.78) |
| BIG4 | 0.4791***(16.46) | 0.4656***(9.48) | 0.4891***(13.59) |
| _cons | 12.4078***(84.83) | 12.5281***(62.67) | 12.3606***(57.72) |
| 6,219 | 3,039 | 3,180 | |
| adj. | 0.2901 | 0.2704 | 0.2884 |
| F | 212.7810 | 113.6004 | 129.8118 |
Note(s): FAMILYMAG = family members on management positions, COVID-19 = COVID-19 pandemic, BODMEET = board meetings, BODSIZE = directors on the board, IDR = independent directors on the board, INVESTPROP = institutional investor shareholder ratio, LEV = total liability/total assets, ROE = return on equity, INVR = inventory/total revenue, FIRMAGE = firm living years, and BIG4 = Big 4 audit firm; *p < 0.1, **p < 0.05, ***p < 0.01 (t statistics in parentheses)
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.