Table 10. Regression result for...

Table 10.

Regression result for accounting conservatism test

Variables	English law origin	French law origin	German law origin
HOOF	−0.005 0.698	0.001 0.678	0.007 0.233
CAPRAT	0.005 0.889	−0.288 0.024**	0.168 0.379
LNSIZE	0.009 0.118	0.002 0.757	−0.015 0.070*
LOANRATIO	0.002 0.904	−2.38E−05 0.708	−0.066 0.411
GROWTH	−0.004 0.728	0.042 0.111	0.043 0.200
ROA	−0.105 0.555	−0.513 0.127	0.165 0.912
IR	0.016 0.717	0.010 0.606	0.002 0.913
CR	0.001 0.733	0.002 0.8903	−0.002 0.6519
SEXRAT	−0.001893 0.593	0.009 0.316	−0.010 0.626
N	162	156	26
Adj. R²	0.976	0.027	0.984
F-statistic	75.863	1.479	72.368
Prob (F-statistic)	0.000	0.161	0.001

Variables	English law origin	French law origin	German law origin
HOOF	−0.0050.698	0.0010.678	0.0070.233
CAPRAT	0.0050.889	−0.2880.024**	0.1680.379
LNSIZE	0.0090.118	0.0020.757	−0.0150.070*
LOANRATIO	0.0020.904	−2.38E−050.708	−0.0660.411
GROWTH	−0.0040.728	0.0420.111	0.0430.200
ROA	−0.1050.555	−0.5130.127	0.1650.912
IR	0.0160.717	0.0100.606	0.0020.913
CR	0.0010.733	0.0020.8903	−0.0020.6519
SEXRAT	−0.0018930.593	0.0090.316	−0.0100.626
N	162	156	26
Adj. R²	0.976	0.027	0.984
F-statistic	75.863	1.479	72.368
Prob (F-statistic)	0.000	0.161	0.001

Notes:

Significance at the 10%, 5% and 1% levels is indicated by *, ** and ***, respectively. English law-origin countries are Australia, Canada, Hong Kong, Malaysia, Nigeria, Singapore, Thailand and USA. German law-origin countries are Austria, Japan and South Korea. French law-origin countries are Brazil, Egypt, Indonesia, The Netherlands, Philippines, Spain and Turkey

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