Table 11. Random-effects meta-regression...

Table 11.

Random-effects meta-regression results for managerial decisions

Fisher Z	Coefficient	t-statistic
Abnormal discretionary accruals	−0.037225	−0.58
Combined measure of real activities manipulation	−0.0218463	−0.34
Agency costs	−0.0326388	−0.25
Corporate tax avoidance	−0.3738053**	−2.31
Self-constructed disclosure index	0.0154594	0.16
EY’s IRQ measure	−0.0034825	−0.03
Score of rating agencies/database providers	0.0080131	0.07
Mandatory adoption	0.1129867	0.62
Year fixed effects	0.024783	0.21
Industry fixed effects	−0.0343482	−0.21
Country fixed effects	−0.1679498	−1.16
Year of publication	0.1611457***	5.10
Sample size	0.0199712	0.46
Constant	−325.7531***	−5.12
Number of ES	120
tau-squared (τ²)	0.02296
I² (%)	99.15%
R-squared (%)	50.94%

Fisher Z	Coefficient	t-statistic
Abnormal discretionary accruals	−0.037225	−0.58
Combined measure of real activities manipulation	−0.0218463	−0.34
Agency costs	−0.0326388	−0.25
Corporate tax avoidance	−0.3738053**	−2.31
Self-constructed disclosure index	0.0154594	0.16
EY’s IRQ measure	−0.0034825	−0.03
Score of rating agencies/database providers	0.0080131	0.07
Mandatory adoption	0.1129867	0.62
Year fixed effects	0.024783	0.21
Industry fixed effects	−0.0343482	−0.21
Country fixed effects	−0.1679498	−1.16
Year of publication	0.1611457***	5.10
Sample size	0.0199712	0.46
Constant	−325.7531***	−5.12
Number of ES	120
tau-squared (τ²)	0.02296
I² (%)	99.15%
R-squared (%)	50.94%

Notes:

The dependent variable of the meta-regression is Fisher Z; Due to the issue of multicollinearity, the variables “Scoreboards taken from the literature”, “Publication status” and “Sample period” are omitted. ***p < 0.01; **p < 0.05; *p < 0.10

Source: Table by authors

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