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臺大管理論叢
第
26
卷第
2
期
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4.2 Descriptive Statistics
Table 3 provides descriptive statistics for all the variables included in the regression
model. With respect to tax avoidance variables, this study uses three measures:
BETR
,
CETR,
and
BTD
. The mean (median) value of
BETR
is 0.1932 (0.1802), the mean (median) of
CETR
is 0.2614 (0.2836) and the mean (median) of
BTD
is 17.1185 (17.1277). Both the
mean and median values of tax avoidance variables show that the level of listed Chinese
companies’ tax avoidance is relative high. Among the auditor industry expertise variables,
Table 3 shows that the mean (median) value of
IMS
is 0.0491 (0.0257) and the mean
(median) value of
IPS
is 0.0978 (0.0552). This indicates that the level of audit firms’ industry
specialization is still low based on industry market share and industry portfolio share. The
mean values of
IMS_D
and
IPS_D
are 0.1301 and 0.0980, which means that 13.01% and
9.8% of our observations are audited by industry experts. Both the continuous variables and
dummy variables show that a small proportion of auditors have developed industry expertise
in the Chinese setting. Descriptive statistics of control variables are basically consistent with
previous studies.
Table 3 Descriptive Statistics
Variables
Observations
Mean
Std
Min
Median
Max
BETR
7692
0.1932
0.0101
0
0.1802
0.7750
CETR
7692
0.2614
0.0120
0
0.2836
0.5487
BTD
7692
17.1185
3.3688
0.8663
17.1277
25.1400
IMS
7692
0.0491
0.0043
0
0.0257
0.8224
IMS_D
7692
0.1301
0.1132
0
0
1
IPS
7692
0.0978
0.0112
0.0200
0.0552
0.9434
IPS_D
7692
0.0980
0.0884
0
0
1
Fee
7692
0.0303
0.0064
0.0001
0.0121
0.9998
Tenure
7692
3.3796
7.9234
1
2
16
Big10
7692
0.4610
0.2485
0
0
1
Soe
7692
0.4303
0.2452
0
0
1
Size
7692
21.6551
1.8245
13.0760
21.5126
28.2821
Roa
7692
0.0518
0.0080
-0.4984
0.0479
0.9797
Lev
7692
0.4411
0.0514
0.0071
0.4407
0.9897
CFO
7692
0.0463
0.0089
-0.4795
0.0454
0.9601
Table 4 reports the descriptive statistics of auditor industry expertise based on industry
market share (
IMS
). This study finds that the highest audit firm market share in most of these