Summary statistics of the earnings forecast error sample for the variables. Full sample and segmentation of the sample according to whether or not there was a AC
| Full sample | With AC | Without AC | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| N | Mean | Min | Median | Max | N | Mean | Median | N | Mean | Median | |
| EFE (bias) (%) | 55 | 9.86 | −54.58 | 0.00 | 34.04 | 3 | −2.26 | −0.45 | 52 | 10.56 | 0.00 |
| EFE (accuracy) (%) | 55 | 19.10 | 0.00 | 5.21 | 100.00 | 3 | 3.41 | 1.72 | 52 | 20.01 | 5.31 |
| Size (million €) | 55 | 59.53 | 7.04 | 28.80 | 329.43 | 3 | 147.07 | 152.69 | 52 | 54.48 | 28.09 |
| Age (years) | 55 | 2.90 | 0.19 | 1.91 | 31.49 | 3 | 1.63 | 2.08 | 52 | 2.97 | 1.91 |
| Auditor | 55 | 0.57 | 0.04 | 0.31 | 1.00 | 3 | 0.45 | 0.31 | 52 | 0.58 | 0.31 |
| Executives (%) | 55 | 25.82 | 0.00 | 8.53 | 93.4 | 3 | 4.80 | 7.14 | 52 | 27.04 | 10.05 |
| DEBT (%) | 55 | 29.09 | 0.00 | 18.97 | 134.26 | 3 | 15.46 | 12.08 | 52 | 29.87 | 20.38 |
| Full sample | With AC | Without AC | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mean | Min | Median | Max | Mean | Median | Mean | Median | ||||
| EFE (bias) (%) | 55 | 9.86 | −54.58 | 0.00 | 34.04 | 3 | −2.26 | −0.45 | 52 | 10.56 | 0.00 |
| 55 | 19.10 | 0.00 | 5.21 | 100.00 | 3 | 3.41 | 1.72 | 52 | 20.01 | 5.31 | |
| Size (million €) | 55 | 59.53 | 7.04 | 28.80 | 329.43 | 3 | 147.07 | 152.69 | 52 | 54.48 | 28.09 |
| Age (years) | 55 | 2.90 | 0.19 | 1.91 | 31.49 | 3 | 1.63 | 2.08 | 52 | 2.97 | 1.91 |
| Auditor | 55 | 0.57 | 0.04 | 0.31 | 1.00 | 3 | 0.45 | 0.31 | 52 | 0.58 | 0.31 |
| Executives (%) | 55 | 25.82 | 0.00 | 8.53 | 93.4 | 3 | 4.80 | 7.14 | 52 | 27.04 | 10.05 |
| DEBT (%) | 55 | 29.09 | 0.00 | 18.97 | 134.26 | 3 | 15.46 | 12.08 | 52 | 29.87 | 20.38 |
| Dummy variables | |||
|---|---|---|---|
| N | Num. Dummy 0 | Num. Dummy 1 | |
| AUDITCOMIT | 55 | 52 | 3 |
| Property | 55 | 43 | 12 |
| Management | 55 | 52 | 3 |
| PPP | 55 | 27 | 28 |
| Standard | 55 | 7 | 48 |
| Dummy variables | |||
|---|---|---|---|
| Num. Dummy 0 | Num. Dummy 1 | ||
| AUDITCOMIT | 55 | 52 | 3 |
| Property | 55 | 43 | 12 |
| Management | 55 | 52 | 3 |
| PPP | 55 | 27 | 28 |
| Standard | 55 | 7 | 48 |
Note(s): The variables are described in Table A1
Source(s): Table by authors
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