The moderating effect of family firm dummy
| Variables | Model 11 | Model 12 | Model 13 | Model 14 |
|---|---|---|---|---|
| FirmCmplx1 | 0.082*** (0.000) | 0.054** (0.018) | ||
| FirmCmplx2 | 0.045*** (0.010) | 0.057*** (0.000) | ||
| ExeFinKnow | 0.283* (0.054) | 0.291** (0.045) | ||
| AuditIndep | 0.137 (0.525) | 0.150 (0.365) | ||
| FamInd | −0.013 (0.165) | −0.015* (0.080) | −0.011* (0.075) | −0.010* (0.051) |
| FirmCmplx1*ExeFinKnow | −0.131** (0.045) | |||
| FirmCmplx2*ExeFinKnow | −0.110** (0.029) | |||
| FirmCmplx1*AuditIndep | 0.114** (0.026) | |||
| FirmCmplx2* AuditIndep | 0.021* (0.078) | |||
| FirmCmplx1*FamInd | −0.072** (0.027) | −0.062** (0.037) | ||
| FirmCmplx2*FamInd | −0.012* (0.086) | −0.016* (0.075) | ||
| ExeFinKnow* FamInd | −0.035 (0.245) | −0.037 (0.354) | ||
| AuditIndep * FamInd | 0.069 (0.316) | 0.058 (0.297) | ||
| FirmCmplx1* ExeFinKnow*FamInd | −0.106** (0.041) | |||
| FirmCmplx2* ExeFinKnow*FamInd | −0.013* (0.071) | |||
| FirmCmplx1*AuditIndep*FamInd | 0.204** (0.023) | |||
| FirmCmplx2*AuditIndep*FamInd | 0.025* (0.061) | |||
| Control variables | YES | YES | YES | YES |
| −2.632*** (0.008) | −2.693** (0.021) | −2.435** (0.015) | −2.387*** (0.006) | |
| Graphic | −0.971 (0.341) | −0.972 (0.363) | −0.917 (0.354) | −0.937 (0.339) |
| Hansen J-Statistics | 50.12 (0.478) | 48.92 (0.463) | 55.33 (0.245) | 61.38 (0.357) |
| Variables | Model 11 | Model 12 | Model 13 | Model 14 |
|---|---|---|---|---|
| FirmCmplx1 | 0.082 | 0.054 | ||
| FirmCmplx2 | 0.045 | 0.057 | ||
| ExeFinKnow | 0.283 | 0.291 | ||
| AuditIndep | 0.137 (0.525) | 0.150 (0.365) | ||
| FamInd | −0.013 (0.165) | −0.015 | −0.011 | −0.010 |
| FirmCmplx1 | −0.131 | |||
| FirmCmplx2 | −0.110 | |||
| FirmCmplx1 | 0.114 | |||
| FirmCmplx2 | 0.021 | |||
| FirmCmplx1 | −0.072 | −0.062 | ||
| FirmCmplx2 | −0.012 | −0.016 | ||
| ExeFinKnow | −0.035 (0.245) | −0.037 (0.354) | ||
| AuditIndep | 0.069 (0.316) | 0.058 (0.297) | ||
| FirmCmplx1 | −0.106 | |||
| FirmCmplx2 | −0.013 | |||
| FirmCmplx1 | 0.204 | |||
| FirmCmplx2 | 0.025 | |||
| Control variables | ||||
| −2.632 | −2.693 | −2.435 | −2.387 | |
| Graphic | −0.971 (0.341) | −0.972 (0.363) | −0.917 (0.354) | −0.937 (0.339) |
| Hansen J-Statistics | 50.12 (0.478) | 48.92 (0.463) | 55.33 (0.245) | 61.38 (0.357) |
***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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