Table 7. Descriptive statistics of...

Table 7.

Descriptive statistics of audited and unaudited firms

	Audited firms			Non-audited firms
Variables	N	Mean	SD	N	Mean	SD
Continuous dependent variable
LEAD TIME	438	169	46.9	562	160	65.5
Categorical dependent variable	N	%		N	%
– Late (not within the legal deadline)	42	9.6		64	11.4
– Within the legal deadline	396	90.4		498	88.6
Total	438	100		562	100
Continuous independent control variables	N	Mean	SD	N	Mean	SD
ASSETS	438	8.6	1.9	562	6.3	1.5
DEBT	438	0.6	0.3	562	0.4	0.3
PAGES	438	8.1	4.1	562	6.1	1.1
FIRM AGE	438	15.4	14.9	562	9.9	11.2
Independent control dummy variables	N	%		N	%
MANUFACTURING
– Manufacturing industry	27	6.2		29	5.2
– Other industry	411	93.8		533	94.8
Total	438	100		562	100
MONTH
– December as the last month of the fiscal year	291	66.4		355	63.2
– Other month as the last month of the fiscal year	147	33.6		207	36.8
Total	438	100		562	100
Independent research dummy variables	N	%
BIG 4
– Audited by Big 4 firm	154	35.2
– Audited by non-Big 4 firm	284	64.8
Total	438	100

	Audited firms			Non-audited firms
Variables	N	Mean	SD	N	Mean	SD
Continuous dependent variable
LEAD TIME	438	169	46.9	562	160	65.5
Categorical dependent variable	N	%		N	%
– Late (not within the legal deadline)	42	9.6		64	11.4
– Within the legal deadline	396	90.4		498	88.6
Total	438	100		562	100
Continuous independent control variables	N	Mean	SD	N	Mean	SD
ASSETS	438	8.6	1.9	562	6.3	1.5
DEBT	438	0.6	0.3	562	0.4	0.3
PAGES	438	8.1	4.1	562	6.1	1.1
FIRM AGE	438	15.4	14.9	562	9.9	11.2
Independent control dummy variables	N	%		N	%
MANUFACTURING
– Manufacturing industry	27	6.2		29	5.2
– Other industry	411	93.8		533	94.8
Total	438	100		562	100
MONTH
– December as the last month of the fiscal year	291	66.4		355	63.2
– Other month as the last month of the fiscal year	147	33.6		207	36.8
Total	438	100		562	100
Independent research dummy variables	N	%
BIG 4
– Audited by Big 4 firm	154	35.2
– Audited by non-Big 4 firm	284	64.8
Total	438	100