Table I Statistic descriptive Variable...

Table I

Statistic descriptive

Variable	Max.	Min.	Mean	SD	Skewness
All samples (n=240)
CETR	1.100	0.010	0.337	0.220	1.889
IC	1.000	0.170	0.503	0.201	0.813
FAM	0.980	0.000	0.342	0.299	0.303
UE	0.870	0.030	0.202	0.140	1.484
SIZE	14.470	10.900	12.492	0.824	0.271
LEV	4.472	0.902	1.746	0.580	1.998
ROA	0.425	0.000	0.135	0.110	1.228
Sample with high effective internal control (n=67)
CETR	1.100	0.050	0.360	0.232	1.869
IC	1.000	0.670	0.781	0.118	0.597
FAM	0.930	0.000	0.244	0.283	0.705
UE	0.470	0.030	0.174	0.110	0.698
SIZE	14.470	11.210	12.712	0.924	0.151
ROA	0.425	0.000	0.141	0.105	1.290
Sample with less effective internal control (n=173)
CETR	1.100	0.010	0.328	0.216	1.893
IC	0.500	0.170	0.395	0.093	−0.086
FAM	0.980	0.000	0.380	0.297	0.170
UE	0.870	0.040	0.213	0.149	1.507
SIZE	13.990	10.900	12.407	0.768	0.213
ROA	0.425	0.000	0.133	0.112	1.217

Variable	Max.	Min.	Mean	SD	Skewness
All samples (n=240)
CETR	1.100	0.010	0.337	0.220	1.889
IC	1.000	0.170	0.503	0.201	0.813
FAM	0.980	0.000	0.342	0.299	0.303
UE	0.870	0.030	0.202	0.140	1.484
SIZE	14.470	10.900	12.492	0.824	0.271
LEV	4.472	0.902	1.746	0.580	1.998
ROA	0.425	0.000	0.135	0.110	1.228
Sample with high effective internal control (n=67)
CETR	1.100	0.050	0.360	0.232	1.869
IC	1.000	0.670	0.781	0.118	0.597
FAM	0.930	0.000	0.244	0.283	0.705
UE	0.470	0.030	0.174	0.110	0.698
SIZE	14.470	11.210	12.712	0.924	0.151
ROA	0.425	0.000	0.141	0.105	1.290
Sample with less effective internal control (n=173)
CETR	1.100	0.010	0.328	0.216	1.893
IC	0.500	0.170	0.395	0.093	−0.086
FAM	0.980	0.000	0.380	0.297	0.170
UE	0.870	0.040	0.213	0.149	1.507
SIZE	13.990	10.900	12.407	0.768	0.213
ROA	0.425	0.000	0.133	0.112	1.217

Notes: CETR_it, company’s cash effective tax rate i in year t; IC_it, disclosure score of company internal control i in year t; FAM_it, ownership of shares by company family i in year t; EU_it, uncertainty of company i’s environment in year t; SIZE_it, company size is measured using the logarithm of the total assets of company i in year t, ROA_it, return on company assets i in year t

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