Fig 1.
Conceptual framework illustrating the moderating effect of CGQ on the relationship between IRQ disclosure and ICC.
Here, CGQ, IRQ, and ICC denotes corporate governance quality, integrated reporting quality, and implied cost of equity capital, respectively.
Fig 2.
Conceptual framework illustrating the moderating effect of CGQ on the relationship between IRQ disclosure and ICC (including control variables).
Here, CGQ, IRQ, ICC, SIZE, LTG, ROA, CSR, and LEV denotes corporate governance quality, integrated reporting quality, implied cost of equity capital, company size, long-term growth, return on assets, corporate social responsibility, and leverage, respectively.
Table 1.
Heteroskedasticity test.
Table 2.
Descriptive statistics of dependent, moderating, and control variables.
Table 3.
Estimated coefficient of the moderation effect of CGQ between IRQ disclosure and ICC using a fixed-effect regression model.
Fig 3.
The correlation coefficient of dependent, independent, and control variables.
The inner value displays the p-value corresponding to the correlation coefficient.
Fig 4.
A conditional margin plot for moderating effect of CGQ on the relationship between IRQ disclosure and ICC.
Fig 5.
Regions of significance for the relationship between IRQ disclosure and ICC at various levels of CGQ (Johnson-Neyman plot).
Table 4.
Estimated coefficient of the two-step system GMM, pooled OLS, medium quantile regression, and IV2SLS models for robustness check.