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Audit Committee Characteristic and Earnings Management: Evidence Based on Indonesian Firms

Table 3:

Model 1 Model 2
Da Coef. P>z Da Coef. P>z
Audit committee Independent -2.77e+08 0.745 Audit committee Independent -4.39e+09 0.010*
Audit Committee Expertise -1.60e+09 0.000* Audit Committee Meeting -4.71e+08 0.000*
Control Variable Control Variable
Size 4.91e+08 0.000* Size 5.95e+08 0.000*
Leverage -4.30e+07 0.035* Leverage -3.08e+07 0.215
Return on Asset -6.22e+09 0.000* Return on Asset -4.15e+09 0.000*
Market to Book Value 3746501 0.825 Market to Book Value 3.24e+07 0.084
Constant -8.17e+09 0.000* Constant -7.53e+09 0.000*
*Level of significant 0.05Arellano-Bond test for AR(1) in first differences: z = -2.45 Pr > z = 0.014Arellano-Bond test for AR(2) in first differences: z = 1.30 Pr > z = 0.193Hansen test of overid. restrictions:chi2(24) = 32.58 Prob > chi2 = 0.113(Robust) *Level of significant 0.05Arellano-Bond test for AR(1) in first differences: z = -2.26 Pr > z = 0.024Arellano-Bond test for AR(2) in first differences: z = 0.63 Pr > z = 0.528Hansen test of overid. restrictions: chi2(25) = 36.66 Prob > chi2 = 0.062(Robust)
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