Table 4 Kao cointegration test Variables... | Emerald Publishing

Table 4

Kao cointegration test

	Variables	t- statistics	p-value
Jones (1991)	ACC	−7.02642	0.0000
	∆REV
	PPE
Modified Jones (Dechow et al., 1995)	ACC	−5.6470	0.0000
	∆REV–∆REC
	PPE
Kasznik (1999)	ACC	−5.48695	0.0000
	∆REV–∆REC
	PPE
	∆CFO
Kothari et al. (2005)	ACC	−4.96471	0.0000
	∆REV
	PPE
	ROA

	Variables	t- statistics	p-value
Jones (1991)	ACC	−7.02642	0.0000
	∆REV
	PPE
Modified Jones (Dechow et al., 1995)	ACC	−5.6470	0.0000
	∆REV–∆REC
	PPE
Kasznik (1999)	ACC	−5.48695	0.0000
	∆REV–∆REC
	PPE
	∆CFO
Kothari et al. (2005)	ACC	−4.96471	0.0000
	∆REV
	PPE
	ROA

Source(s): Authors' own calculations