Table 2 Panel A descriptive statistics...

Table 2

Panel A descriptive statistics

Variable	N	Mean	Standard deviation	p25	Median	p75
DisclosureTimeliness	131	0.407	0.208	0.274	0.423	0.561
NI606Effect	131	0.051	0.503	−0.017	0.011	0.024
ComplexityPCA	131	−0.009	1.225	−0.759	−0.089	0.336
SalesVolatility	131	72.153	166.512	4.964	16.640	47.154
Warranty	131	0.626	0.486	0	1	1
MultipleElementArrangement	131	0.344	0.477	0	0	1
Rebate	131	0.328	0.471	0	0	1
Sales	131	4.787	2.050	3.705	4.825	6.002
NumGuidancePastYear	131	2.145	3.046	0	0	4
SAB74FinalWordCount	131	537	238	378	486	613
AFE	131	−0.001	0.011	−0.002	−0.001	0.001
AnalystDispersion	131	0.005	0.009	0.000	0.001	0.004
AbsAFE	131	0.007	0.023	0.001	0.002	0.005
ComparePoliciesDisclosure	131	0.802	0.400	1	1	1
ImplementationStatusDisclosure	131	0.870	0.337	1	1	1
QualitativeImpactDisclosure	131	0.771	0.422	1	1	1
Negative606Impact	131	0.466	0.501	0	0	1
ASC606ImpactMagnitude	131	0.216	0.955	0.011	0.019	0.061
NumBusSegs	131	1.252	0.573	1	1	1
AnalystFollowing	131	2.236	0.635	1.79	2.20	2.77
LogFirmAge	131	2.461	0.935	1.61	2.57	3.12
LogMarketCap	131	7.603	1.626	6.54	7.42	8.70
BookToMarket	131	0.319	0.375	0.11	0.24	0.45
InstitutionalOwnership	131	0.704	0.223	0.60	0.75	0.86
RestOrWeaknessPast3Years	131	0.053	0.226	0	0	0
GuidancePastYear	131	0.397	0.491	0	0	1
GuidedEPSQ12018	131	0.229	0.422	0	0	0
PYdispersion	131	0.005	0.014	0.000	0.001	0.004
CEOChairDuality	131	0.344	0.477	0	0	1
BoardSize	131	7.969	1.700	7	8	9
Concentration	131	0.172	0.177	0.047	0.152	0.185
Tangibility	131	0.143	0.177	0.036	0.071	0.184
RD	131	0.032	0.039	0	0.019	0.050
ROA	131	−0.015	0.079	−0.041	−0.001	0.015
Big4Auditor	131	0.458	0.500	0	0	1

Variable	N	Mean	Standard deviation	p25	Median	p75
DisclosureTimeliness	131	0.407	0.208	0.274	0.423	0.561
NI606Effect	131	0.051	0.503	−0.017	0.011	0.024
ComplexityPCA	131	−0.009	1.225	−0.759	−0.089	0.336
SalesVolatility	131	72.153	166.512	4.964	16.640	47.154
Warranty	131	0.626	0.486	0	1	1
MultipleElementArrangement	131	0.344	0.477	0	0	1
Rebate	131	0.328	0.471	0	0	1
Sales	131	4.787	2.050	3.705	4.825	6.002
NumGuidancePastYear	131	2.145	3.046	0	0	4
SAB74FinalWordCount	131	537	238	378	486	613
AFE	131	−0.001	0.011	−0.002	−0.001	0.001
AnalystDispersion	131	0.005	0.009	0.000	0.001	0.004
AbsAFE	131	0.007	0.023	0.001	0.002	0.005
ComparePoliciesDisclosure	131	0.802	0.400	1	1	1
ImplementationStatusDisclosure	131	0.870	0.337	1	1	1
QualitativeImpactDisclosure	131	0.771	0.422	1	1	1
Negative606Impact	131	0.466	0.501	0	0	1
ASC606ImpactMagnitude	131	0.216	0.955	0.011	0.019	0.061
NumBusSegs	131	1.252	0.573	1	1	1
AnalystFollowing	131	2.236	0.635	1.79	2.20	2.77
LogFirmAge	131	2.461	0.935	1.61	2.57	3.12
LogMarketCap	131	7.603	1.626	6.54	7.42	8.70
BookToMarket	131	0.319	0.375	0.11	0.24	0.45
InstitutionalOwnership	131	0.704	0.223	0.60	0.75	0.86
RestOrWeaknessPast3Years	131	0.053	0.226	0	0	0
GuidancePastYear	131	0.397	0.491	0	0	1
GuidedEPSQ12018	131	0.229	0.422	0	0	0
PYdispersion	131	0.005	0.014	0.000	0.001	0.004
CEOChairDuality	131	0.344	0.477	0	0	1
BoardSize	131	7.969	1.700	7	8	9
Concentration	131	0.172	0.177	0.047	0.152	0.185
Tangibility	131	0.143	0.177	0.036	0.071	0.184
RD	131	0.032	0.039	0	0.019	0.050
ROA	131	−0.015	0.079	−0.041	−0.001	0.015
Big4Auditor	131	0.458	0.500	0	0	1

Note(s): This table presents the descriptive statistics for the sample. All variables are measured in the first quarter of adoption of ASC 606, except for variables related to the SAB 74 disclosure and SalesVolatility, which is the standard deviation of sales for the eight quarters prior to the first quarter of ASC 606 adoption. Each firm adopts ASC 606 in their first fiscal quarter starting in the fiscal year that starts after December 15, 2017. All continuous variables are winsorized at the 1% and 99% levels

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