Endogenous variables

Observed: log_roa

Exogenous variables

Observed: log_audit_fees_orig log_leverage log_cash_ce

Fitting target model:

Iteration 0: log likelihood = -376.80342

Iteration 1: log likelihood = -376.80342

Structural equation model Number of obs = 70

Estimation method = ml
Log likelihood = -376.80342

OIM
Coef. Std. Err. z P>|z| [95% Conf. Interval]

Structural
log_roa <-
log_audit_fees_orig -.2417197 .0681151 -3.55 0.000 -.3752228 -.1082165
log_leverage -.2732512 .1085885 -2.52 0.012 -.4860808 -.0604216
log_cash_ce -.3594663 .104234 -3.45 0.001 -.5637611 -.1551715
_cons 4.142251 .6489685 6.38 0.000 2.870296 5.414206

Variance
e.log_roa .5603667 .0947193 .4023398 .7804618

LR test of model vs. saturated: chi2(0) = 0.00, Prob > chi2 = .

. regress log_roa csr_2015

Source SS df MS Number of obs = 71

F( 1, 69) = 0.06
Model .052904603 1 .052904603 Prob > F = 0.8022
Residual 57.7397471 69 .836807929 R-squared = 0.0009
Adj R-squared = -0.0136
Total 57.7926517 70 .82560931 Root MSE = .91477

log_roa Coef. Std. Err. t P>|t| [95% Conf. Interval]

csr_2015 .0049356 .0196295 0.25 0.802 -.0342241 .0440953

_cons 1.411098 1.05591 1.34 0.186 -.695385 3.517581
. regress log_audit_fees_orig csr_2015

Source SS df MS Number of obs = 74

F( 1, 72) = 0.00
Model .000275395 1 .000275395 Prob > F = 0.9901
Residual 127.476343 72 1.77050477 R-squared = 0.0000
Adj R-squared = -0.0139
Total 127.476619 73 1.74625505 Root MSE = 1.3306

log_audit_~g Coef. Std. Err. t P>|t| [95% Conf. Interval]

csr_2015 .0003525 .0282649 0.01 0.990 -.0559926 .0566976

_cons 6.322177 1.521964 4.15 0.000 3.288198 9.356156