Table 2. Descriptive statistics Early...

Table 2.

Descriptive statistics

	Early adopters			Late adopters			T-test
Variable	Mean	Median	Std.	Mean	Median	Std.	P-value
Audit fees	4.195	3.026	5.879	3.765	2.927	4.091	0.009
Auditing time	94	79	38	89	93	45	0.045
Audit switch	0.196	0.155	0.767	0.113	0.096	0.891	0.091
Big4	0.836	0.853	0.090	0.811	0.809	0.276	0.213
Firm size	18.778	20.381	15.712	17.001	19.872	16.96	0.119
Return on assets	0.181	0.230	0.379	0.175	0.216	0.418	0.347
Profitability	0.813	0.761	0.231	0.890	0.801	0.131	0.679
Leverage	0.351	0.451	0.675	0.423	0.392	0.543	0.193

	Early adopters			Late adopters			T-test
Variable	Mean	Median	Std.	Mean	Median	Std.	P-value
Audit fees	4.195	3.026	5.879	3.765	2.927	4.091	0.009
Auditing time	94	79	38	89	93	45	0.045
Audit switch	0.196	0.155	0.767	0.113	0.096	0.891	0.091
Big4	0.836	0.853	0.090	0.811	0.809	0.276	0.213
Firm size	18.778	20.381	15.712	17.001	19.872	16.96	0.119
Return on assets	0.181	0.230	0.379	0.175	0.216	0.418	0.347
Profitability	0.813	0.761	0.231	0.890	0.801	0.131	0.679
Leverage	0.351	0.451	0.675	0.423	0.392	0.543	0.193

Notes:

For the purpose of comparison and t-test analysis, the audit fees and firm size (total assets) are were converted to $before the log transformation. In the regression analyses, we use the log form of the local currency

[ViewLarge]