| Dependent variable is IDR | |||||
---|---|---|---|---|---|---|
Post | 0.021 | 0.018 | 0.017 | 0.025 | 0.018 | 0.021 |
 | (1.002) | (0.614) | (0.662) | (0.837) | (0.886) | (1.031) |
Treatment |  − 0.029 |  − 0.030 |  − 0.031 |  − 0.028 |  − 0.029 |  − 0.028 |
 | (− 0.780) | (− 0.841) | (− 0.887) | (− 0.777) | (− 0.791) | (− 0.798) |
(Voice and accountability) * IFRS | 0.000 | Â | Â | Â | Â | Â |
 | (0.005) |  |  |  |  |  |
(Political stability) * IFRS |  |  − 0.004 |  |  |  |  |
 |  | (− 0.138) |  |  |  |  |
(Government effectiveness) * IFRS | Â | Â | 0.014 | Â | Â | Â |
 |  |  | (0.220) |  |  |  |
(Regulatory quality) * IFRS |  |  |  |  − 0.011 |  |  |
 |  |  |  | (− 0.155) |  |  |
(Control of corruption) * IFRS | Â | Â | Â | Â | 0.048 | Â |
 |  |  |  |  | (0.766) |  |
(Rule of law) * IFRS |  |  |  |  |  |  − 0.024 |
 |  |  |  |  |  | (− 0.356) |
Firm-level controls | Included | Included | Included | Included | Included | Included |
Market-level Controls | Included | Included | Included | Included | Included | Included |
YE and IE | Included | Included | Included | Included | Included | Included |
Observations | 188 | 188 | 188 | 188 | 188 | 188 |
Adj. R2 | 0.109 | 0.109 | 0.109 | 0.109 | 0.111 | 0.109 |
Prob. of F-Statistics | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |