Table 8 Regression results of board of directors attributes and earnings management (Discretionary Accruals)

BIND

−0.146

(−1.23)

−0.450^**

(−1.65)

−0.224^***

(−2.33)

BEXP

0.051

(0.54)

−0.454^***

(−2.02)

−0.137^**

(−1.78)

CEOD

−0.002

(−0.24)

0.000

(.)

0.007

(0.54)

BDIV

0.039

(0.40)

0.277

(0.99)

0.169^***

(2.05)

FD

0.111

(0.86)

−0.170

(−0.47)

−0.116

(−1.20)

BMEET

0.008^**

(1.81)

0.002

(0.23)

0.000

(0.06)

BSIZE

0.010

(0.75)

−0.033

(−0.79)

0.009

(0.75)

ACIND

−0.042

(−0.67)

0.246

(1.00)

0.133^***

(2.20)

ACEXP

−0.071

(−1.09)

0.112

(0.94)

−0.003

(−0.06)

BIG4

−0.012

(−0.27)

0.005

(0.05)

0.023

(0.68)

ROA

0.002

(1.48)

−0.002

(−0.64)

−0.001

(−0.85)

LEVE

−0.165^***

(−2.30)

0.004

(0.02)

0.002

(0.04)

FAGE

0.016^***

(2.45)

−0.016

(−0.85)

0.011^***

(2.88)

TANG

0.012

(0.19)

−0.058

(−0.33)

0.015

(0.30)

FSIZE

0.062^**

(1.80)

0.089

(1.02)

0.047^***

(2.34)

LOSS(D)

0.024

(1.54)

0.048

(1.16)

0.043^***

(2.79)

CFO

−0.911^***

(−21.88)

−0.001

(−1.63)

−0.002^***

(−4.61)

SALES

0.046^***

(2.58)

0.128^***

(2.21)

0.031^**

(1.73)

INV

−0.251^***

(−2.22)

0.651^***

(2.84)

0.553^***

(6.84)

Constant

−1.162^***

(−3.14)

0.055

(0.06)

−0.977^***

(−4.89)

Observations

394

381

977

Groups(firms)

207

205

217

R²

0.778

0.170

0.188

F-Statistics

31.343***

1.801***

9.042***