Figures & data: The effects of accounting conservatism on investment decision: Evidence from listed companies in China

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Table 1. Descriptive statistics

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Table 2. Pearson correlations between variables used in Equationequation (1)(1) $\begin{aligned} In v_{i, t} = β_{0} + β_{1} Growt h_{i, t - 1} + β_{2} Le v_{i, t - 1} + β_{3} Cas h_{i, t - 1} + β_{4} Ag e_{i, t - 1} + β_{5} Siz e_{i, t - 1} \\ + β_{6} RE T_{i, t - 1} + β_{7} In v_{i, t - 1} + \sum Industry + \sum Year + e_{i, t} \end{aligned}$ (1)

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Table 3. Regression results of Equationequation (1)(1) $\begin{aligned} In v_{i, t} = β_{0} + β_{1} Growt h_{i, t - 1} + β_{2} Le v_{i, t - 1} + β_{3} Cas h_{i, t - 1} + β_{4} Ag e_{i, t - 1} + β_{5} Siz e_{i, t - 1} \\ + β_{6} RE T_{i, t - 1} + β_{7} In v_{i, t - 1} + \sum Industry + \sum Year + e_{i, t} \end{aligned}$ (1)

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Table 4. Descriptive statistics of the residuals in the regression of Equationequation (1)(1) $\begin{aligned} In v_{i, t} = β_{0} + β_{1} Growt h_{i, t - 1} + β_{2} Le v_{i, t - 1} + β_{3} Cas h_{i, t - 1} + β_{4} Ag e_{i, t - 1} + β_{5} Siz e_{i, t - 1} \\ + β_{6} RE T_{i, t - 1} + β_{7} In v_{i, t - 1} + \sum Industry + \sum Year + e_{i, t} \end{aligned}$ (1)

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Table 5. Pearson correlation between variables used in main regression model Equationequation (6)(6) $\begin{aligned} EXIN V_{i, t} = β_{0} + β_{1} C - scor e_{i, t} + β_{2} Pa y_{i, t} + β_{3} LGcs R_{i, t} + β_{4} FC F_{i, t} \\ + \sum Industry + \sum Year + ε_{i, t} \end{aligned}$ (6)

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Table 6. Results for Hypothesis 1 Equationequation (6)(6) $\begin{aligned} EXIN V_{i, t} = β_{0} + β_{1} C - scor e_{i, t} + β_{2} Pa y_{i, t} + β_{3} LGcs R_{i, t} + β_{4} FC F_{i, t} \\ + \sum Industry + \sum Year + ε_{i, t} \end{aligned}$ (6)

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Table 7. Results for Hypothesis 2 equation (7)

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The effects of accounting conservatism on investment decision: Evidence from listed companies in China

Table 1. Descriptive statistics

Table 5. Pearson correlation between variables used in main regression model Equationequation (6)(6) $\begin{aligned} EXIN V_{i, t} = β_{0} + β_{1} C - scor e_{i, t} + β_{2} Pa y_{i, t} + β_{3} LGcs R_{i, t} + β_{4} FC F_{i, t} \\ + \sum Industry + \sum Year + ε_{i, t} \end{aligned}$ (6)

Table 6. Results for Hypothesis 1 Equationequation (6)(6) $\begin{aligned} EXIN V_{i, t} = β_{0} + β_{1} C - scor e_{i, t} + β_{2} Pa y_{i, t} + β_{3} LGcs R_{i, t} + β_{4} FC F_{i, t} \\ + \sum Industry + \sum Year + ε_{i, t} \end{aligned}$ (6)

Table 7. Results for Hypothesis 2 equation (7)

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The effects of accounting conservatism on investment decision: Evidence from listed companies in China

Figures & data

Table 1. Descriptive statistics

Table 2. Pearson correlations between variables used in Equationequation (1)(1) Invi,t=β0+β1Growthi,t−1+β2Levi,t−1+β3Cashi,t−1+β4Agei,t−1+β5Sizei,t−1+β6RETi,t−1+β7Invi,t−1+∑Industry+∑Year+ei,t(1)

Table 3. Regression results of Equationequation (1)(1) Invi,t=β0+β1Growthi,t−1+β2Levi,t−1+β3Cashi,t−1+β4Agei,t−1+β5Sizei,t−1+β6RETi,t−1+β7Invi,t−1+∑Industry+∑Year+ei,t(1)

Table 4. Descriptive statistics of the residuals in the regression of Equationequation (1)(1) Invi,t=β0+β1Growthi,t−1+β2Levi,t−1+β3Cashi,t−1+β4Agei,t−1+β5Sizei,t−1+β6RETi,t−1+β7Invi,t−1+∑Industry+∑Year+ei,t(1)

Table 5. Pearson correlation between variables used in main regression model Equationequation (6)(6) EXINVi,t=β0+β1C−scorei,t+β2Payi,t+β3LGcsRi,t+β4FCFi,t+∑Industry+∑Year+εi,t(6)

Table 6. Results for Hypothesis 1 Equationequation (6)(6) EXINVi,t=β0+β1C−scorei,t+β2Payi,t+β3LGcsRi,t+β4FCFi,t+∑Industry+∑Year+εi,t(6)

Table 7. Results for Hypothesis 2 equation (7)

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Table 5. Pearson correlation between variables used in main regression model Equationequation (6)(6) $\begin{aligned} EXIN V_{i, t} = β_{0} + β_{1} C - scor e_{i, t} + β_{2} Pa y_{i, t} + β_{3} LGcs R_{i, t} + β_{4} FC F_{i, t} \\ + \sum Industry + \sum Year + ε_{i, t} \end{aligned}$ (6)

Table 6. Results for Hypothesis 1 Equationequation (6)(6) $\begin{aligned} EXIN V_{i, t} = β_{0} + β_{1} C - scor e_{i, t} + β_{2} Pa y_{i, t} + β_{3} LGcs R_{i, t} + β_{4} FC F_{i, t} \\ + \sum Industry + \sum Year + ε_{i, t} \end{aligned}$ (6)