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Future Business Journal

Table 4 Regression results of the effects of corporate governance on earnings management

From: Corporate governance, external financing, and earnings management: new evidence from an emerging market

Variables

AEM (1)

REM (2)

 

Coef

t-stat

Coef

t-stat

CGS

− 0.1807***

− 2.68

− 0.0283

− 0.04

BIG4

− 0.0143

− 0.89

0.1135

0.64

ROA

0.0227

0.39

0.5063

0.78

SIZE

− 0.0407***

− 4.23

− 0.4032***

− 3.81

DEBR

− 0.0423

− 1.11

0.9375**

2.24

SALESGR

0.0009

0.15

0.1837***

2.78

Constant

1.2276

4.84

10.8524

3.89

Year FE

Yes

 

Yes

 

Industry FE

Yes

 

Yes

 

N

2604

2604

  

R-sq

0.101

0.140

  
  1. This table presents FEM regression results for the effects of corporate governance on earnings management of Eq. (9): AEMit /REMit = α + β1CGSit + β2BIG4it + β3ROAit + β4SIZEit + β5DEBRit + β6SALESGRit + eit. The definitions for the variables are provided previously. *, **, and *** indicate statistical significance at 10%, 5%, and 1%, respectively
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