| VARIABLES | (1) Aud | (2) lnaud | (3) Aud |
| SD1
| 0.0000* |
|
|
| (1.6865) |
|
| |
| SD
|
| −0.0394** | 0.0000* |
|
| (−2.3166) | (1.8644) | |
| Constant
| 0.0043*** | 4.5698*** | 0.0048*** |
| (18.1558) | (11.7380) | (18.1742) | |
| Observations | 16,702 | 16,702 | 11,210 |
| R-squared | 0.1931 | 0.5991 | 0.1364 |
| Number of stkcd | 2,937 | 2,937 | 2,824 |
| firm | yes | yes | yes |
| year | yes | yes | yes |
|
| (1) | (2) | (3) |