Table 3

Correlation matrix

12345678910
1.Earnings surprise1.00         
2. Ab. disc. acc.0.001.00        
3. Ab.prod. cost0.040.021.00       
4. Ab.disc. ex p.0.000.010.111.00      
5. IO0.030.010.000.011.00     
6.IO20.020.010.000.020.971.00    
7. Firm size0.010.010.110.060.440.431.00   
8. RO A0.060.010.050.050.160.140.221.00  
9. Market to book0.000.000.000.000.000.000.000.011.00 
10. Leverage0.060.030.140.010.030.050.290.140.011.00
11. Big auditor0.000.000.000.010.110.090.220.080.000.07

Note(s): Italic correlation coefficients are significant at the 5% level

Source(s): Table created by authors

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