A study on audit report timeliness: The Macedonian Stock Exchange

Figures & Tables

Model 1	Unstandardized coefficients		Standardized coefficients	T	Sig.	Correlations			Collinearity statistics

	B	Std. Error	Beta			Zero-order	Partial	Part	Tolerance	VIF
(Constant)	147.424	21.435		6.878	0.000
QAR	22.070	3.980	0.275	5.546	0.000	0.314	0.281	0.266	0.936	1.068
Big4	−1.934	7.062	−0.015	−0.274	0.784	−0.031	−0.014	−0.013	0.734	1.363
Loss	9.176	4.826	0.104	1.901	0.058	0.211	0.100	0.091	0.765	1.307
LnASSETS	−3.398	1.595	−0.126	−2.130	0.034	−0.167	−0.112	−0.102	0.656	1.523
CR	−0.733	0.258	−0.140	−2.839	0.005	−0.191	−0.148	−0.136	0.947	1.056
Leverage	0.123	0.165	0.040	0.747	0.456	0.075	0.039	0.036	0.820	1.220
ROE	−10.009	6.604	−0.075	−1.515	0.131	−0.118	−0.080	−0.073	0.934	1.071
Manuf	8.646	4.075	0.107	2.122	0.035	0.050	0.111	0.102	0.909	1.100

Model	R	R²	Adjusted R²	Std. Error of the estimate	Change statistics					Durbin-Watson
Model	R	R²	Adjusted R²	Std. Error of the estimate	R² change	F change	df1	df2	Sig. F change	Durbin-Watson
1	0.417^a	0.174	0.155	36.900	0.174	9.451	8	360	0.000	1.120

Year	Unqualified audit opinion		Unqualified audit opinion with paragraph(s) for emphasis of matter and other legal or regulatory requirements		Modified opinion

	No.	%	No.	%	No.	%
2014	46	46.9	10	10.2	42	42.9
2015	45	49.5	5	5.5	41	45.1
2016	37	40.2	10	10.9	45	48.9
2017	34	38.6	10	11.4	44	50.0

Total	162	43.9	35	9.5	172	46.6

Pearson correlation	Lag	QAR	Big4	Loss	LnASSETS	CR	Lev	ROE	Manufacturing
Lag	1,000
QAR	0.000^*	1,000
Big4	−0.031^*	−0.095^*	1,000
Loss	0.000^*	0.000^*	0.088^*	1,000
LnASSETS	0.000^*	−0.093^*	0.000^*	0.000^*	1,000
CR	0.000^*	0.000^*	0.000^*	−0.092^*	−0.059^*	1,000
Lev	0.075	−0.074	0.000^*	0.000^*	0.000^*	−0.063^*	1,000
ROE	0.000^*	−0.078	0.051^*	0.000^*	−0.002^*	0.030^*	0.016^*	1,000
Manufacturing	0.050	−0.097^*	0.000^*	0.000^*	0.000^*	0.000^*	0.074	0.047^*	1,000

	Listed entities
Listed entities	109
Banks	−8
Insurance entities	−2
Nonfinancial entities	99
Observation period in number of years	4
Total number of observations	396
Observations with incomplete data	−10
Incomplete observations: delisted entities	−17

Total observations with complete data	369

		Minimum	Maximum	Mean	SD		Total number
Dependent variable
Lag		43	374	117.50	40.146		369
Explanatory variables
LnASSETS		8	17	13.21	1.488		369
CR		0.00	74.60	3.9517	7.65888		369
Lever		0.00	180.87	1.6973	12.87412		369
ROE		−2.38	1.75	0.0078	0.30137		369
		n	%		n	%	Total number
Current-year loss	Loss	108	29	Profit	261	71	369
Audit firm size	BIG4	42	11.4	Non-BIG4	327	88.6	369
Company sector	Manufacturing	57	57.6	Non-manufacturing	42	42.4	99