Descriptive Analysis (2009–2011, n = 1,118)
| Mean | Median | Maximum | Minimum | Std. Dev | |
|---|---|---|---|---|---|
| Dependent variable | |||||
| ABS | 0.043 | 0.029 | 0.389 | 0.000 | 0.046 |
| Panel A: Fee variables | |||||
| AUDIT_FEE_RM | 190801.800 | 125301.000 | 3843000.000 | 12000.000 | 271183.700 |
| TOTAL_FEE_RM | 239923.500 | 158750.000 | 5667000.000 | 21345.000 | 362793.000 |
| NAS_RM | 49121.660 | 1900.000 | 2412000.000 | 105.000 | 118632.400 |
| NAS | 0.179 | 0.140 | 0.888 | 0.001 | 0.150 |
| Panel B: Corporate governance variables | |||||
| AC_FIN | 0.258 | 0.000 | 1.000 | 0.000 | 0.438 |
| ABS | 0.043 | 0.029 | 0.389 | 0.000 | 0.046 |
| AC_IND | 0.623 | 1.000 | 1.000 | 0.000 | 0.485 |
| AC_MEET | 1.536 | 1.670 | 4.330 | 0.330 | 0.361 |
| AC_MEET (NUMBER) | 4.818 | 5.000 | 13.000 | 1.000 | 1.034 |
| AC_MEET(LOG) | 1.551 | 1.609 | 2.565 | 0.000 | 0.210 |
| AC_SIZE (NUMBER) | 3.184 | 3.000 | 6.000 | 2.000 | 0.479 |
| AC_SIZE | 1.149 | 1.099 | 1.792 | 0.693 | 0.133 |
| Panel C: Institutional variables | |||||
| BOD_BUMI | 0.315 | 0.250 | 1.000 | 0.000 | 0.254 |
| FAMILY_F | 0.557 | 1.000 | 1.000 | 0.000 | 0.497 |
| POLCON | 0.456 | 0.000 | 1.000 | 0.000 | 0.498 |
| Panel D: Control variables | |||||
| BIG_4 | 0.603 | 1.000 | 1.000 | 0.000 | 0.490 |
| LEVERAGE | 0.223 | 0.170 | 0.690 | 0.000 | 0.208 |
| EQUITY | 0.001 | 0.000 | 1.000 | 0.000 | 0.030 |
| ABS | 0.043 | 0.029 | 0.389 | 0.000 | 0.046 |
| LOSS | 0.153 | 0.000 | 1.000 | 0.000 | 0.360 |
| ASSET_RM | 529,000,000 | 288,000,000 | 3580,000,000 | 39,887,305 | 626,000,000 |
| ASSETS | 19.534 | 19.478 | 21.997 | 17.502 | 1.049 |
| Mean | Median | Maximum | Minimum | Std. Dev | |
|---|---|---|---|---|---|
| 0.043 | 0.029 | 0.389 | 0.000 | 0.046 | |
| 190801.800 | 125301.000 | 3843000.000 | 12000.000 | 271183.700 | |
| 239923.500 | 158750.000 | 5667000.000 | 21345.000 | 362793.000 | |
| 49121.660 | 1900.000 | 2412000.000 | 105.000 | 118632.400 | |
| 0.179 | 0.140 | 0.888 | 0.001 | 0.150 | |
| 0.258 | 0.000 | 1.000 | 0.000 | 0.438 | |
| 0.043 | 0.029 | 0.389 | 0.000 | 0.046 | |
| 0.623 | 1.000 | 1.000 | 0.000 | 0.485 | |
| 1.536 | 1.670 | 4.330 | 0.330 | 0.361 | |
| 4.818 | 5.000 | 13.000 | 1.000 | 1.034 | |
| 1.551 | 1.609 | 2.565 | 0.000 | 0.210 | |
| 3.184 | 3.000 | 6.000 | 2.000 | 0.479 | |
| 1.149 | 1.099 | 1.792 | 0.693 | 0.133 | |
| 0.315 | 0.250 | 1.000 | 0.000 | 0.254 | |
| 0.557 | 1.000 | 1.000 | 0.000 | 0.497 | |
| 0.456 | 0.000 | 1.000 | 0.000 | 0.498 | |
| 0.603 | 1.000 | 1.000 | 0.000 | 0.490 | |
| 0.223 | 0.170 | 0.690 | 0.000 | 0.208 | |
| 0.001 | 0.000 | 1.000 | 0.000 | 0.030 | |
| 0.043 | 0.029 | 0.389 | 0.000 | 0.046 | |
| 0.153 | 0.000 | 1.000 | 0.000 | 0.360 | |
| 529,000,000 | 288,000,000 | 3580,000,000 | 39,887,305 | 626,000,000 | |
| 19.534 | 19.478 | 21.997 | 17.502 | 1.049 | |
Note(s): Please refer to Table 2 for operational definitions
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