From: Voluntary disclosure of internal control and auditor’s attestation: evidence from China
Separate logistic Regressions | Multinomial logistic regressions (Model 3) | ||||
---|---|---|---|---|---|
Model 1 Discloser versus non-disclosers | Model 2 Self-assessment report only versus Self-assessment report with auditor’s attestation | (1) Self-assessment report only versus non-disclosers (ICVD1) | (2) Self-assessment report with auditor’s attestation versus non-disclosers (ICVD2) | (3) Diff between (1) and (2) Chi-square | |
SEO | −14.86*** (−15.82) | 0.07 (0.08) | −16.72*** (−14.62) | −14.54*** (10.77) | 2.68 |
FUND | 10.97** (2.21) | −4.12 (−0.49) | 14.73*** (2.86) | 11.40 (1.60) | 0.31 |
GOV | −0.81 (−1.35) | 1.07 (0.71) | −0.85 (−1.47) | 0.10 (0.08) | 0.58 |
GOV*CENTRL | 0.77 (1.17) | 1.16 (0.93) | 0.68 (1.00) | 1.39 (1.57) | 0.61 |
GOV*SEO | 14.91*** (12.32) | −0.36 (−0.24) | 15.31*** (10.61) | 128.26*** | |
SIZE | 1.01*** (3.23) | 0.16 (0.35) | 0.87*** (2.64) | 0.97** (2.57) | |
GROW | −0.67* (−1.65) | 0.31 (0.52) | −0.82* (−1.87) | −0.98** (−2.08) | |
ROE | 1.27 (0.67) | −2.53 (−0.61) | 2.27 (0.87) | 1.80 (0.45) | |
LEV | −0.25 (−0.18) | 2.68 (0.64) | −0.67 (−0.46) | −1.78 (−0.66) | |
INDIR | −5.14 (−1.02) | −2.94 (−0.29) | −2.62 (−0.51) | 0.28 (0.03) | |
CLIST | 13.58*** (7.82) | −0.01 (−0.01) | 15.66*** (8.23) | 13.27*** (4.65) | |
BIG4 | 1.15 (1.06) | −17.56*** (−9.27) | 0.24 (0.02) | −16.51*** (−7.80) | |
INV | 1.11 (0.81) | −0.73 (−0.17) | 0.66 (0.48) | 2.02 (0.74) | |
AGE | −0.22*** (−2.91) | −0.39*** (−2.99) | −0.12 (−1.62) | −0.45*** (−3.61) | |
Industry MBR | 0.17 (0.69) | −0.20 (−0.33) | −0.11 (−0.34) | −0.34 (−0.68) | |
# of Obs. | 153 | 51 | 153 | ||
Pseudo R2 | 30.50% | 33.91% | 32.20% |