Table 3 Regression results, logit (1)... | Emerald Publishing

Table 3

Regression results, logit

	(1)	(2)	(3)	(4)	(5)

Variables	Odds ratio	Top 1000	Top 200	Top 100	Top 50
ln_ast	1.330***	1.217*	1.151	1.337	2.418*
ln_ast	(0.0906)	(0.141)	(0.214)	(0.351)	(1.124)
EBITDA_adj	1.000**	1.000*	1.000	1.000	1.000
EBITDA_adj	(1.24e−06)	(1.30e−06)	(1.45e−06)	(1.56e−06)	(1.88e−06)
listed	4.751**	4.640**	7.142**	7.150**	10.86**
listed	(3.081)	(3.070)	(5.623)	(6.271)	(12.83)
agefive_koncern	0.225**
agefive_koncern	(0.132)
risk	0.993	0.983	0.990	1.011	1.679
risk	(0.00589)	(0.0330)	(0.0845)	(0.179)	(0.779)
d_samfast	2.832***	1.051	0.335	0.358	0.380
d_samfast	(1.038)	(0.584)	(0.296)	(0.332)	(0.369)
Constant	0.00341***	0.0136***	0.0275***	0.0173***	0.000421**
Constant	(0.000400)	(0.00642)	(0.0250)	(0.0255)	(0.00135)
Observations	34,306	982	198	100	50

	(1)	(2)	(3)	(4)	(5)

Variables	Odds ratio	Top 1000	Top 200	Top 100	Top 50
ln_ast	1.330***	1.217*	1.151	1.337	2.418*
ln_ast	(0.0906)	(0.141)	(0.214)	(0.351)	(1.124)
EBITDA_adj	1.000**	1.000*	1.000	1.000	1.000
EBITDA_adj	(1.24e−06)	(1.30e−06)	(1.45e−06)	(1.56e−06)	(1.88e−06)
listed	4.751**	4.640**	7.142**	7.150**	10.86**
listed	(3.081)	(3.070)	(5.623)	(6.271)	(12.83)
agefive_koncern	0.225**
agefive_koncern	(0.132)
risk	0.993	0.983	0.990	1.011	1.679
risk	(0.00589)	(0.0330)	(0.0845)	(0.179)	(0.779)
d_samfast	2.832***	1.051	0.335	0.358	0.380
d_samfast	(1.038)	(0.584)	(0.296)	(0.332)	(0.369)
Constant	0.00341***	0.0136***	0.0275***	0.0173***	0.000421**
Constant	(0.000400)	(0.00642)	(0.0250)	(0.0255)	(0.00135)
Observations	34,306	982	198	100	50

Note(s): Odd's ratio, standard errors in parentheses. Dependent variable: big four. ***p < 0.01, **p < 0.05, *p < 0.1

Source(s): Own calculations using data from Datscha and Business Retriever