An Empirical Study on the Influence of Consolidated Financial Statement’s Amplification Effect on Audit Fees

Table 8

Amplification effect and audit fees: effect of the nature of property rights.

Variables	LNFEE
	(1)	(2)
MAGNIFICATION1	−0.007	0.093
	(−0.071)	(0.939)
MAGNIFICATION1 × SOE	0.362^∗∗	0.232^∗
	(2.468)	(1.659)
SOE	−0.202^∗∗∗	−0.150^∗∗∗
	(−10.965)	(−8.052)
SIZE	0.279^∗∗∗	0.262^∗∗∗
	(41.946)	(37.564)
LEV	0.029	0.149^∗∗∗
	(0.816)	(4.240)
TOBINQ	0.005	0.003
	(1.439)	(0.846)
DUAL	0.018	0.003
	(1.432)	(0.243)
INDRATIO	0.332^∗∗∗	0.149
	(3.087)	(1.455)
AGE	0.011^∗∗∗	−0.001
	(8.878)	(−0.852)
TOP1	−0.001^∗∗	−0.001^∗∗∗
	(−2.183)	(−2.710)
BIG4	0.731^∗∗∗	0.725^∗∗∗
	(18.572)	(18.586)
DELAY	0.256^∗∗∗	0.167^∗∗∗
	(15.749)	(10.788)
REC	−0.208^∗∗∗	−0.363^∗∗∗
	(−3.319)	(−5.991)
Constant	6.210^∗∗∗	6.913^∗∗∗
	(39.489)	(41.231)
YEAR	No	Yes
INDUSTRY	No	Yes
N	25,688	25,688
Adj. R^2	0.552	0.596

Note. Cluster-adjusted t-values are in parentheses. ^∗∗∗, ^∗∗, and ^∗ indicate significance at the 1%, 5%, and 10% levels, respectively.