Regression results (moderating effect of family dummy)
| Variables | Model 1 | Model 2 |
|---|---|---|
| FirmCmplx1 | 0.082* (0.075) | |
| FirmCmplx2 | 0.048** (0.022) | |
| FirmCmplx1* FamInd | −0.082** (0.016) | |
| FirmCmplx2* FamInd | −0.014* (0.083) | |
| Raudit | −0.159*** (0.000) | −0.130*** (0.00) |
| AudTenure | 0.030** (0.035) | 0.038*** (0.003) |
| LossInd | −0.048 (0.208) | −0.057 (0.174) |
| BusyInd | 0.099* (0.092) | 0.026 (0.393) |
| FirmAGE | 0.010 (0.484) | 0.016 (0.252) |
| Big4 | 0.027 (0.496) | 0.089*** (0.007) |
| ExportInD | 0.013 (0.837) | 0.194** (0.019) |
| Const | 1.932*** (0.000) | 1.878*** (0.001) |
| AR(1) | −2.598*** (0.009) | −2.604*** (0.009) |
| AR(2) | −0.934 (0.350) | −0.977 (0.329) |
| Hansen J-Statistics | 43.71 (0.357) | 41.53 (0.619) |
| Variables | Model 1 | Model 2 |
|---|---|---|
| FirmCmplx1 | 0.082 | |
| FirmCmplx2 | 0.048 | |
| FirmCmplx1 | −0.082 | |
| FirmCmplx2 | −0.014 | |
| Raudit | −0.159 | −0.130 |
| AudTenure | 0.030 | 0.038 |
| LossInd | −0.048 (0.208) | −0.057 (0.174) |
| BusyInd | 0.099 | 0.026 (0.393) |
| FirmAGE | 0.010 (0.484) | 0.016 (0.252) |
| Big4 | 0.027 (0.496) | 0.089 |
| ExportInD | 0.013 (0.837) | 0.194 |
| Const | 1.932 | 1.878 |
| AR(1) | −2.598 | −2.604 |
| AR(2) | −0.934 (0.350) | −0.977 (0.329) |
| Hansen J-Statistics | 43.71 (0.357) | 41.53 (0.619) |
***p < 0.01 denotes significant at 1 % level, **p < 0.05 denotes significant at 5 % level, *p < 0.10 denotes significant at 10 % level
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