Chuang, Hui-Ching; Chen, Jau-er - In: Econometrics : open access journal 11 (2023) 1, pp. 1-20
In this study, we explore the effect of industry distress on recovery rates by using the unconditional quantile regression (UQR). The UQR provides better interpretative and thus policy-relevant information on the predictive effect of the target variable than the conditional quantile regression....