Table 5. Regression results on auditing... | Emerald Publishing

Table 5.

Regression results on auditing time

	Early adopters			Late adopters
Variable	1	2	3	4	5	6
IFRS	0.016*** (4.70)	0.015*** (4.87)	0.017*** (4.13)	0.011* (1.67)	0.010* (1.69)	0.009 (1.61)
Auditing fees		0.122*** (2.99)	0.126*** (2.77)		0.119*** (3.69)	0.116*** (3.61)
Auditor switch		0.034* (1.66)	0.031 (1.63)		0.023 (1.51)	0.024 (1.53)
Big4		−0.039 (1.42)	−0.039 (1.23)		−0.022 (1.33)	−0.021 (1.37)
Firm size		−0.091** (−1.97)	−0.095* (−1.91)		−0.089** (−1.73)	−0.096 (−1.64)
Profitability		0.002 (0.73)	0.003 (0.81)		0.004 (1.03)	0.002 (1.06)
Return on assets		0.004 (1.26)	0.006 (1.23)		0.010 (1.56)	0.009 (1.59)
Leverage		0.012* (1.73)	0.027* (1.79)		0.017 (1.55)	0.018** (2.19)
Industry effect	–	–	Yes	–	–	Yes
Constant	4.22*** (5.13)	4.36*** (4.02)	4.41*** (4.61)	3.93*** (6.21)	3.72*** (6.87)	3.52*** (6.64)
Adj. R²	0.107	0.141	0.139	0.093	0.110	0.113
Observation	975	975	975	595	595	595
Firms	195	195	195	119	119	119

	Early adopters			Late adopters
Variable	1	2	3	4	5	6
IFRS	0.016*** (4.70)	0.015*** (4.87)	0.017*** (4.13)	0.011* (1.67)	0.010* (1.69)	0.009 (1.61)
Auditing fees		0.122*** (2.99)	0.126*** (2.77)		0.119*** (3.69)	0.116*** (3.61)
Auditor switch		0.034* (1.66)	0.031 (1.63)		0.023 (1.51)	0.024 (1.53)
Big4		−0.039 (1.42)	−0.039 (1.23)		−0.022 (1.33)	−0.021 (1.37)
Firm size		−0.091** (−1.97)	−0.095* (−1.91)		−0.089** (−1.73)	−0.096 (−1.64)
Profitability		0.002 (0.73)	0.003 (0.81)		0.004 (1.03)	0.002 (1.06)
Return on assets		0.004 (1.26)	0.006 (1.23)		0.010 (1.56)	0.009 (1.59)
Leverage		0.012* (1.73)	0.027* (1.79)		0.017 (1.55)	0.018** (2.19)
Industry effect	–	–	Yes	–	–	Yes
Constant	4.22*** (5.13)	4.36*** (4.02)	4.41*** (4.61)	3.93*** (6.21)	3.72*** (6.87)	3.52*** (6.64)
Adj. R²	0.107	0.141	0.139	0.093	0.110	0.113
Observation	975	975	975	595	595	595
Firms	195	195	195	119	119	119

Notes:

t-statistics in parentheses.

Significant levels –*** = 1%; ** = 5%; *= 10%