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Table 6 The number and category of CAMs and crash risk

From: Critical audit matters and stock price crash risk

  (1) (2) (3)
  CAMs Corporate–idiosyncratic CAMs
Variable NCSKEW NCSKEW NCSKEW
NumCAM −0.00304   
  (0.0410)   
DumIdiot–1   −0.106a  
   (0.0571)  
NumIdiot–1    −0.0699a
    (0.0414)
Sizet–1 0.182c 0.187c 0.187c
  (0.0301) (0.0300) (0.0300)
ABS_DAt–1 1.025b 1.010b 1.005b
  (0.409) (0.409) (0.409)
ROAt–1 1.669c 1.601c 1.601c
  (0.563) (0.563) (0.564)
Levt–1 −0.279 −0.264 −0.261
  (0.182) (0.182) (0.182)
Dturnt–1 0.124 0.122 0.127
  (0.142) (0.139) (0.138)
StdWt–1 2.258 2.601 2.529
  (2.116) (2.118) (2.115)
MBt–1 0.0827c 0.0864c 0.0857c
  (0.0195) (0.0196) (0.0196)
SOEt–1 −0.299c − 0.290c − 0.292c
  (0.0639) (0.0641) (0.0641)
Top1t–1 −0.00180 −0.00185 − 0.00181
  (0.00205) (0.00204) (0.00205)
Independentt–1 0.142 0.159 0.187
  (0.492) (0.492) (0.492)
Constant −4.432c − 4.540c − 4.546c
  (0.745) (0.746) (0.746)
IND Yes Yes Yes
No. of obs. 2324 2324 2324
  1. Notes. a, b and c represent the significance levels of 10%, 5%, and 1%, respectively