Hightech and regulated firms indentification
Posted: 03 October 2012 04:27 PM   [ Ignore ]
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High tech firms have high Litigation pressure. 

High tech: 1 when the sample firm belongs to: Drugs (COMPUSTAT SIC codes 2833-2836), R&D Services
(8731-8734), Programming (7371-7379), Computers (3570-3577), Electronics (3600-3674); and
0 otherwise.

Regulated firms have significant different accounting comparing with non-regulated firms.

Regulation: 1 when the firm belongs to: Telephone (COMPUSTAT 4-Digit SIC codes 4812-4813), TV (4833),
Cable (4841), Communications (4811-4899), Gas (4922-4924), Electricity (4931), Water (4941),
Financial firms (6021-6023, 6035-6036, 6141, 6311, 6321, 6331); and 0 otherwise.

Reference:
Kasznik and Lev, TAR, 1995

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