Descriptive statistics results before and after outliers’ treatment
| FR | AF | AT | B5 | Lev | Prof | ROA | Size | |
|---|---|---|---|---|---|---|---|---|
| Panel A | ||||||||
| Mean | 4.892 | 1210747.000 | 3.085 | 0.322 | 3.343 | 9330000000.000 | 0.031 | 598.156 |
| Median | 5.000 | 158412.100 | 3.000 | 0.000 | 0.963 | 2910000000.000 | 0.029 | 148.211 |
| Maximum | 8.000 | 136000000.000 | 5.000 | 1.000 | 915.783 | 239000000000.000 | 0.535 | 55993.110 |
| Minimum | 0.000 | 0.000 | 1.000 | 0.000 | −1.715 | 11276672.000 | −0.653 | 28.852 |
| Skewness | 24.966 | 6.599 | −0.751 | 12.516 | ||||
| Kurtosis | 649.966 | 59.069 | 15.819 | 180.266 | ||||
| Obs | 951 | 951 | 951 | 951 | 951 | 951 | 951 | 951 |
| Panel B | ||||||||
| Mean | 4.851 | 5.477 | 3.143 | 0.354 | 1.217 | 9.559 | 2.256 | 2.256 |
| Median | 5.000 | 5.440 | 3.000 | 0.000 | 0.965 | 9.566 | 2.159 | 2.159 |
| Maximum | 8.000 | 8.089 | 5.000 | 1.000 | 9.573 | 11.314 | 3.937 | 3.937 |
| Minimum | 0.000 | 3.149 | 1.000 | 0.000 | 0.002 | 7.636 | 1.460 | 1.460 |
| Skewness | 4.609 | −0.242 | 0.276 | 0.960 | ||||
| Kurtosis | 26.235 | 2.924 | 5.070 | 4.550 | ||||
| Obs | 564 | 564 | 564 | 564 | 564 | 564 | 564 | 564 |
| FR | AF | AT | B5 | Lev | Prof | ROA | Size | |
|---|---|---|---|---|---|---|---|---|
| Mean | 4.892 | 1210747.000 | 3.085 | 0.322 | 3.343 | 9330000000.000 | 0.031 | 598.156 |
| Median | 5.000 | 158412.100 | 3.000 | 0.000 | 0.963 | 2910000000.000 | 0.029 | 148.211 |
| Maximum | 8.000 | 136000000.000 | 5.000 | 1.000 | 915.783 | 239000000000.000 | 0.535 | 55993.110 |
| Minimum | 0.000 | 0.000 | 1.000 | 0.000 | −1.715 | 11276672.000 | −0.653 | 28.852 |
| Skewness | 24.966 | 6.599 | −0.751 | 12.516 | ||||
| Kurtosis | 649.966 | 59.069 | 15.819 | 180.266 | ||||
| Obs | 951 | 951 | 951 | 951 | 951 | 951 | 951 | 951 |
| Mean | 4.851 | 5.477 | 3.143 | 0.354 | 1.217 | 9.559 | 2.256 | 2.256 |
| Median | 5.000 | 5.440 | 3.000 | 0.000 | 0.965 | 9.566 | 2.159 | 2.159 |
| Maximum | 8.000 | 8.089 | 5.000 | 1.000 | 9.573 | 11.314 | 3.937 | 3.937 |
| Minimum | 0.000 | 3.149 | 1.000 | 0.000 | 0.002 | 7.636 | 1.460 | 1.460 |
| Skewness | 4.609 | −0.242 | 0.276 | 0.960 | ||||
| Kurtosis | 26.235 | 2.924 | 5.070 | 4.550 | ||||
| Obs | 564 | 564 | 564 | 564 | 564 | 564 | 564 | 564 |
Note(s): Panel A is before outlier treatment, Panel B is after outlier treatment. FR is financial statement fraud that is measured by Dechow f-score, AT is auditor period that is measured by number of years auditor work for same audit/accounting companies. B5 is five big audit firms (Deloitte, KPMG, Enrst andYoung, PWC, BDO) that is measured by client company using big five audit service 1, otherwise 0. AF is the amount paid for the auditor service; Lev is a leverage of the company is measured by total assets divided by total liabilities of the company; Prof is profitability measured by net profit margin; ROA is return on assets is measured by income continuing operation divided by total assets. Size that is measured by the total assets of the company
Source(s): Table created by authors