An Entropy Testing Model Research on the Quality of Internal Control and Accounting Conservatism: Empirical Evidence from the Financial Companies of China from 2007 to 2011

Table 6

Regression results of the panel data models with ICQ.

Model (1)		Model (2)
Independent Variables	Coefficient	Independent variables	Coefficient
𝐶	−0.002 (−0.106)	𝐶	18.781** (2.595)
DCFO	0.031* (1.906)	ΔNI𝑡−1	−1.789** (−2.350)
CFO	−0.919*** (−60.315)	DΔNI𝑡−1	−0.446 (−0.555)
DCFO∗CFO	0.544*** (33.203)	DΔNI𝑡−1∗ΔNI𝑡−1	−3.057 (−0.441)
ICQ	−0.019* (−1.736)	ICQ	−0.599 (−0.935)
DCFO∗ICQ	−0.159*** (−2.714)	DΔNI𝑡−1∗ICQ	3.758** (2.078)
CFO∗ICQ	0.182*** (4.621)	ΔNI𝑡−1∗ICQ	−0.791 (−0.422)
DCFO∗CFO∗ICQ	−2.926*** (−63.551)	DΔNI𝑡−1∗ΔNI𝑡−1∗ICQ	7.527 (0.615)
STR	0.105 (1.603)	STR	−0.961 (−0.498)
LEV	−0.082*** (−3.068)	LEV	3.978** (2.976)
SIZE	0.007*** (4.822)	SIZE	−1.880** (−2.939)
Adj_𝑅^2	0.852	Adj_𝑅^2	0.830

∗,∗∗,∗∗∗Denote significant differences at the 10 percent, 5 percent, and 1 percent levels.