Godfrey, Christopher; Hoepner, Andreas G. F.; Lin, … - 2020
econometric terms, this relationship is plagued with a reverse causality issue. To address this, we propose a Granger …-style reverse causality minimisation procedure. This procedure involves three steps. Firstly, we regress board diversity (BD) on … insignificant. Thirdly, we regress CSI on lagged BDUCS, lagged CSI and its interaction term. Applying our Granger-style reverse …