Table 6 Additional analysis: Local...

Table 6

Additional analysis: Local auditor and alternative measurements

	(1)	(2)	(3)	(4)	(5)	(5)
Conditions	Less than 100 miles		Only flights on Fridays		Only flights on Sundays
Variables	Restate	Ln(Audit fee)	Restate	Ln(Audit fee)	Restate	Ln(Audit fee)
Total delay	−1.028	0.151
Total delay	[−1.00]	[0.98]
Total delay Friday			−0.987***	0.109**
Total delay Friday			[−3.76]	[2.24]
Total delay Sunday					−0.421*	0.203***
Total delay Sunday					[−1.79]	[3.52]
Controls	YES	YES	YES	YES	YES	YES
Year FE	YES	YES	YES	YES	YES	YES
Industry FE	YES	YES	YES	YES	YES	YES
Observations	1,148	1,148	25,905	25,905	24,849	24,849
Pseudo/Adjusted R²	0.308	0.889	0.251	0.853	0.252	0.853

	(1)	(2)	(3)	(4)	(5)	(5)
Conditions	Less than 100 miles		Only flights on Fridays		Only flights on Sundays
Variables	Restate	Ln(Audit fee)	Restate	Ln(Audit fee)	Restate	Ln(Audit fee)
Total delay	−1.028	0.151
Total delay	[−1.00]	[0.98]
Total delay Friday			−0.987***	0.109**
Total delay Friday			[−3.76]	[2.24]
Total delay Sunday					−0.421*	0.203***
Total delay Sunday					[−1.79]	[3.52]
Controls	YES	YES	YES	YES	YES	YES
Year FE	YES	YES	YES	YES	YES	YES
Industry FE	YES	YES	YES	YES	YES	YES
Observations	1,148	1,148	25,905	25,905	24,849	24,849
Pseudo/Adjusted R²	0.308	0.889	0.251	0.853	0.252	0.853

Note(s): This table shows multiple regression results for the relationship between alternative flight delay measurements and auditing outcomes. For columns (1) and (3), we only add fixed effects to determinate the base relationship between flight delay and each dependent variable. We add control variables, which are described in Appendix, in columns (2) and (4). Standard errors are clustered by firm and t-statistics are shown in parentheses. Significance level: ***p < 0.01, **p < 0.05, *p < 0.1

Source(s): Table by authors

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