Table 1 Sample selection Details # of... | Emerald Publishing

Table 1

Sample selection

Details	# of firm
Initial matching samples from the Audit Analytics, Board Analyst (The Corporate Library), DataStream and Compustat	44,193
Less: Missing auditing, corporate governance and other financial accounting-related information across different firm-years	(23,111)
After excluding missing samples between Audit Analytics, Board Analyst (The Corporate Library) and Compustat	21,082
Less: Excluding inconsistent information such as negative ARL firm-year observations and SIC (6000–6999)	(1,897)
Residual firm-year observations before matching the cost of equity estimations	19,185
Less: Missing firm-year observation IBES, which attributes different measures of COC	(6,662)
Final sample for the period 2001–2018	12,523

Details	# of firm
Initial matching samples from the Audit Analytics, Board Analyst (The Corporate Library), DataStream and Compustat	44,193
Less: Missing auditing, corporate governance and other financial accounting-related information across different firm-years	(23,111)
After excluding missing samples between Audit Analytics, Board Analyst (The Corporate Library) and Compustat	21,082
Less: Excluding inconsistent information such as negative ARL firm-year observations and SIC (6000–6999)	(1,897)
Residual firm-year observations before matching the cost of equity estimations	19,185
Less: Missing firm-year observation IBES, which attributes different measures of COC	(6,662)
Final sample for the period 2001–2018	12,523

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