变量

模型(1)

模型(2)

模型(3)

绝对操控性应计利润(|DA|)

内部控制指数

(DIB)

绝对操控性应计利

(|DA|)

截距

(θ)

0.1108^***

(0.0164)

10.28563^***

(0.4612)

0.1173^***

(0.0168)

内控有效性

(DIB)

b = −0.0006^*

(0.0004)

审计费用

(AF)

c = −0.0025^** (0.0012)

a = −0.1546^*** (0.0336)

c’ = −0.0026^**

(0.0012)

营业毛利率

(OPR)

−0.0059^**

(0.0025)

0.0219

(0.0688)

−0.0059^**

(0.0024)

账面市值比

(BMR)

−0.0086^***

(0.0030)

−0.2344^***

(0.0846)

−0.0088^***

(0.0030)

流动资产周转率

(ATO)

−0.0015^**

(0.0007)

0.0020

(0.0203 )

−0.0015^**

(0.0007)

每股股利变动值

(CDS)

−0.0080^*

(0.0043)

−0.3416^***

(0.1205)

−0.0082^*

(0.0043)

经营杠杆

(DOL)

0.0003^**

(0.0001)

−0.0004

(0.0031 )

0.0003^**

(0.0001)

资本保值增值率

(RCA)

0.0005^***

(0.0001 )

0.0026

(0.0031)

0.0005^***

(0.0001)

净利润增长率

(NPG)

0.0001^**

(0.0001)

−0.0004

(0.0018)

0.0001^**

(0.0001)

市销率

(PSR)

0.0001

(0.0000386)

0.0011

(0.0011)

0.0001

(0.00003)

Adj R-squared

0.0059

0.0036

0.0061

F值

5.14^***

5.14^***

7.31^***