Table 2 Summary statistics of the...

Table 2

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
	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

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
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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