Descriptive statistics
| Variables | Mean | STD | 25th | Median | 75th |
|---|---|---|---|---|---|
| Panel A. Continuous variables | |||||
| NCSKEW | −0.020 | 1.030 | −0.812 | 0.008 | 0.839 |
| DUVOL | 0.004 | 0.880 | 0.049 | 0.105 | 0.115 |
| COUNT | 0.822 | 2.261 | −1.000 | 1.000 | 2.000 |
| LP_QUALITY | 0.734 | 0.365 | 0.500 | 1.000 | 1.000 |
| RP_QUALITY | 0.698 | 0.328 | 0.500 | 0.833 | 1.000 |
| LP_INDEXPERIENCE | 0.621 | 2.047 | 0.036 | 0.150 | 0.843 |
| RP_INDEXPERIENCE | 0.596 | 1.981 | 0.029 | 0.102 | 0.382 |
| LP_WORKLOAD | 56.900 | 92.163 | 4.000 | 15.000 | 63.000 |
| RP_WORKLOAD | 29.961 | 40.390 | 4.000 | 12.000 | 43.000 |
| LP_CI | 0.638 | 0.386 | 0.234 | 0.814 | 1.000 |
| RP_CI | 0.526 | 0.404 | 0.101 | 0.475 | 1.000 |
| LNAUDDELAY | 4.299 | 0.393 | 4.007 | 4.407 | 4.625 |
| AUDTEN | 4.125 | 4.002 | 1.000 | 3.000 | 4.000 |
| OPNINT | 1.440 | 1.882 | 0.000 | 1.000 | 3.000 |
| BDSIZE | 5.049 | 0.318 | 5.000 | 5.000 | 5.000 |
| LAGNCSKEW | −0.037 | 0.933 | −0.652 | −0.040 | 0.646 |
| BETA | 0.634 | 0.878 | 0.069 | 0.558 | 1.119 |
| DEBTRATIO | 1.871 | 2.276 | 0.703 | 1.295 | 2.343 |
| SIZE | 14.259 | 1.616 | 13.215 | 14.039 | 15.040 |
| ROA | 0.153 | 0.146 | 0.060 | 0.132 | 0.233 |
| AGEt | 3.568 | 0.396 | 3.296 | 3.664 | 3.892 |
| LEVERAGE | 0.589 | 0.246 | 0.435 | 0.585 | 0.725 |
| MB | 4.169 | 6.469 | 1.456 | 2.367 | 4.084 |
| ZMJSCORE | −2.238 | 1.783 | −3.315 | −2.177 | −1.258 |
| Variables | Mean | 25th | Median | 75th | |
|---|---|---|---|---|---|
| −0.020 | 1.030 | −0.812 | 0.008 | 0.839 | |
| 0.004 | 0.880 | 0.049 | 0.105 | 0.115 | |
| 0.822 | 2.261 | −1.000 | 1.000 | 2.000 | |
| 0.734 | 0.365 | 0.500 | 1.000 | 1.000 | |
| 0.698 | 0.328 | 0.500 | 0.833 | 1.000 | |
| 0.621 | 2.047 | 0.036 | 0.150 | 0.843 | |
| 0.596 | 1.981 | 0.029 | 0.102 | 0.382 | |
| 56.900 | 92.163 | 4.000 | 15.000 | 63.000 | |
| 29.961 | 40.390 | 4.000 | 12.000 | 43.000 | |
| 0.638 | 0.386 | 0.234 | 0.814 | 1.000 | |
| 0.526 | 0.404 | 0.101 | 0.475 | 1.000 | |
| 4.299 | 0.393 | 4.007 | 4.407 | 4.625 | |
| 4.125 | 4.002 | 1.000 | 3.000 | 4.000 | |
| 1.440 | 1.882 | 0.000 | 1.000 | 3.000 | |
| 5.049 | 0.318 | 5.000 | 5.000 | 5.000 | |
| −0.037 | 0.933 | −0.652 | −0.040 | 0.646 | |
| 0.634 | 0.878 | 0.069 | 0.558 | 1.119 | |
| 1.871 | 2.276 | 0.703 | 1.295 | 2.343 | |
| 14.259 | 1.616 | 13.215 | 14.039 | 15.040 | |
| 0.153 | 0.146 | 0.060 | 0.132 | 0.233 | |
| 3.568 | 0.396 | 3.296 | 3.664 | 3.892 | |
| 0.589 | 0.246 | 0.435 | 0.585 | 0.725 | |
| 4.169 | 6.469 | 1.456 | 2.367 | 4.084 | |
| −2.238 | 1.783 | −3.315 | −2.177 | −1.258 | |
| Variable | 0 (Count) | 0 (%) | 1 (Count) | 1 (%) | |
|---|---|---|---|---|---|
| Panel B. Dummy variables | |||||
| CRASH | 2,076 | 71.64 | 822 | 28.36 | |
| LP_GENDER | 2,648 | 91.37 | 250 | 8.63 | |
| RP_GENDER | 2,718 | 93.79 | 180 | 6.21 | |
| AUDTYPE | 2,308 | 79.64 | 590 | 20.36 | |
| ACEXST | 1,045 | 36.06 | 1,853 | 63.94 | |
| Variable | 0 (Count) | 0 (%) | 1 (Count) | 1 (%) | |
|---|---|---|---|---|---|
| 2,076 | 71.64 | 822 | 28.36 | ||
| 2,648 | 91.37 | 250 | 8.63 | ||
| 2,718 | 93.79 | 180 | 6.21 | ||
| 2,308 | 79.64 | 590 | 20.36 | ||
| 1,045 | 36.06 | 1,853 | 63.94 | ||
All continuous variables are winsorized at the 1st and 99th percentiles to reduce the impact of outliers
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