Table 7 Moderated regression analysis (MRA) results for the moderating role of corporate governance on the effects of earnings management on firm value

AEM

− 0.459*

− 2.41

REM

0.0769**

3.15

INS

0.370***

6.99

INS

0.323***

5.71

MNG

− 0.229**

− 2.89

MNG

− 0.230**

− 2.94

EDR

− 0.170***

− 3.65

EDR

− 0.117*

− 2.55

BIG4

− 0.0927**

− 3.14

BIG4

− 0.0866**

− 3.05

DEBR

− 0.824***

− 9.57

DEBR

− 0.810***

− 9.39

SIZE

0.0869***

6.38

SIZE

0.0887***

6.35

PROF

0.228**

2.76

PROF

0.228**

2.71

AEM*INS

− 0.735

− 1.79

REM*INS

0.0745

1.49

AEM*MNG

0.178

0.34

REM*MNG

0.0138

0.18

AEM*EDR

0.656*

1.89

REM*EDR

− 0.125**

− 2.87

AEM*BIG4

0.162

0.95

REM*BIG4

0.0192

0.95

Constant

− 0.725*

− 2.10

Constant

− 0.819*

− 2.27

Year FE

Yes

Year FE

Yes

Industry FE

Yes

Industry FE

Yes

N

2604

N

2604

R-sq

0.133

R-sq

0.139