If OLS regressions, for example, detect such a relation in the dataJeffrey L. ColesMichael LemmonJ. F. MeschkeColes,Jeffrey L,Michael L.Lemmon,J.Felix Meschke.Endogeneity in Corporate Finance. . 2002Coles,Jeffrey L,Michael L.Lemmon,J.Felix Meschke.Endogeneity in Corporate Finance. . 2002...
Endogeneity in Corporate Finance: A Survey and Experiment Endogeneity problem has always been one, if not the only one, obstacle to understanding the true relationships among different aspects of empirical corporate finance. Variables are typically endogenous, instruments are scarce, and causal... ZF ...
摘要: This chapter discusses how applied researchers in corporate finance can address endogeneity concerns. We begin by reviewing the sources of endogeneity - omitted关键词: Instrumental Variables Difference-in-Differences Estimators Regression Discontinuity Designs Matching Estimators Measurement Error DOI: ...
Falsification Test #1: Repeat the DD analysis on pre-event years. Falsification Test #2: Make sure that variables that should be unaffected by the event are unaffected by the event. To do so, replace the outcome variable of interest in the empirical model, y with these other variables. Mult...
Endogeneity in empirical corporate finance. University of Ro…阅读全文 赞同 添加评论 分享收藏 两阶段最小二乘法(IV-2sls)的Stata应用 山猪吃得了细糠 【前言】 内生性就是模型中的一个或多个解释变量与随机扰动项相关(百度百科)。内生性问题的来源主要包括:样本选择误差、变量的...
This problem is particularly severe in corporate finance. The objects of study (firms or CEOs, for example) are heterogeneous along many different dimensions, most of which are difficult to observe. For example, executive compensation depends on executives’ abilities, which are difficult to quantify...
摘要: This paper provides a discussion of endogeneity as it relates to finance and accounting research. We discuss the text book solutions: two stage least squares, i关键词: Corporate governance endogeneity natural or quasi experiment DOI: 10.2139/ssrn.2512098 ...
However, no one has evaluated the methods’ performance with corporate finance data, in which the dependent variable may be clustered or censored and independent variables may be missing, correlated with one another, or endogenous. We find that the data’s properties substantially affect the ...
Endogeneity in Empirical Corporate Finance 热度: 6/13/2011 1 IfXisorthogonaltoμthenOLSwill providethebestlinearunbiased estimateofβ 1 IfXiscorrelatedwithμthenOLSwill provideabiasedestimateofβ 1 ,thuswe haveendogeneity. Y=β 0 +β 1 X+μ ...
In Section 3.3, we use a numerical Data, sample selection and variables In this section we describe the data for the empirical settings that we use to illustrate the impact of endogeneity in corporate finance: (1) the relation between board structure and firm performance and (2) the ...