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

The Effects of Relaxing the Reconciliation Requirement in Foreign Private Issuers’ SEC Filings on Earnings Management Strategies: IFRS Adopters versus U.S. GAAPAdopters 96 Panel C. Descriptive statistics on the variables used in the adoption choice analysis for U.S. GAAP versus IFRS samples U.S. GAAP Observations (n = 78) IFRS Observations (n = 83) Probability Value c Variable d Mean Median Std. Dev. Mean Median Std. Dev. t -test a W-test b ROA it -0.173 -0.027 0.850 0.054 0.047 0.085 0.019 0.000 LEV it 0.629 0.536 0.772 0.511 0.546 0.212 0.191 0.809 MV it 6.235 5.935 1.771 7.526 7.707 2.248 0.001 0.000 NMKT it 1.460 2.000 0.894 1.240 1.000 0.702 0.093 0.001 CS it 0.690 1.000 0.466 0.630 1.000 0.485 0.466 0.573 LT_DEBT it 0.450 0.000 0.500 0.490 0.000 0.503 0.558 0.649 Panel D. Descriptive statistics on the variables used in tests of the association between accrual- based earnings management and real activities manipulation for U.S. GAAP versus matched domestic samples U.S. GAAP Observations (n = 78) Matched Domestic Observations (n = 78) Probability Value c Variable d Mean Median Std. Dev. Mean Median Std. Dev. t -test a W-test b DA it -0.123 -0.057 0.483 -0.071 -0.054 0.190 0.399 0.869 RM_SUM it 0.030 0.019 0.189 -0.089 -0.033 0.235 0.001 0.085 RM_PROD it 0.017 0.013 0.089 -0.016 -0.005 0.135 0.090 0.079 RM_DISX it 0.014 0.026 0.150 -0.059 -0.005 0.171 0.009 0.084 BBATH it 0.420 0.000 0.497 0.280 0.000 0.451 0.075 0.096 SM_SUM it 0.125 0.000 0.852 0.138 0.000 0.384 0.911 0.587 SM_PROD it 0.138 0.000 0.758 0.082 0.000 0.289 0.561 0.375 SM_DISX it 0.144 0.000 0.829 0.113 0.000 0.335 0.777 0.526 DEBT it 0.296 0.293 0.260 0.186 0.133 0.184 0.004 0.013 ST_DEBT it 0.220 0.090 0.289 0.368 0.274 0.362 0.009 0.058 BIG it 0.880 1.000 0.329 0.850 1.000 0.362 0.587 0.408 MV it 6.235 5.935 2.530 6.328 5.772 1.753 0.805 0.864 EARN it -0.043 0.018 0.265 0 .007 0.048 0.173 0.174 0.069 DA it-1 -0.143 -0.058 0.459 -0.043 -0.049 0.240 0.106 0.936 LTGN it 0.260 0.000 0.440 0.260 0.000 0.444 0.922 0.928