臺大管理論叢 NTU Management Review VOL.30 NO.2

The Benefits of Disclosing Internal Control Weaknesses: Evidence from Taiwanese Banks 190 Table 3 Descriptive Statistics (continued) Panel B: Pair-wise difference tests Banks without ICW ( N = 113) Banks with ICW ( N = 28) Mean difference Median difference Mean Median Mean Median One-tailed p -value One-tailed p -value SIZE 12.869 12.754 12.596 12.688 0.081 0.129 AGE 34.513 25.000 27.000 19.500 0.051 0.217 AGGLOSS 0.088 0.000 0.143 0.000 0.196 0.195 ROA 0.000 0.003 0.001 0.003 0.338 0.194 sd(ROA) 0.004 0.002 0.007 0.005 0.005 0.008 DIV_ASSET 0.562 0.521 0.642 0.660 0.011 0.011 DIV_REV 0.440 0.398 0.470 0.408 0.260 0.308 FOREIGN 0.434 0.000 0.429 0.000 0.481 0.481 EXGROWTH 0.239 0.000 0.214 0.000 0.392 0.392 BDSIZE 12.593 13.000 11.214 10.500 0.037 0.024 BDMGER 0.111 0.111 0.077 0.080 0.012 0.013 BDHD 0.235 0.159 0.201 0.160 0.178 0.219 MGERHD 0.003 0.001 0.002 0.001 0.057 0.113 MODEV 2.624 2.090 1.862 1.730 0.028 0.002 BDPLEDGE 0.109 0.000 0.364 0.080 0.000 0.003 BLOCKHD 0.201 0.141 0.353 0.329 0.000 0.000 LEGALHD 0.597 0.637 0.697 0.719 0.013 0.011 GOVHD 0.257 0.000 0.071 0.000 0.017 0.017 MV 0.064 0.059 0.078 0.065 0.048 0.078 BV 0.076 0.064 0.076 0.070 0.488 0.111 NI 0.001 0.003 0.002 0.004 0.307 0.191 ZSCORE 4.050 3.976 3.317 2.935 0.007 0.010 Note: See Appendix for variable definitions.