Showing 1 - 10 of 2,299
This study examines the impact of 1997 Asian and 2008 Global financial crises on the capital structure of Korean listed companies. Using a data set covering 1,159 Korean listed non-financial firms from 10 industrial sectors over period 1985-2015, the pattern of firms' capital structure before...
Persistent link: https://www.econbiz.de/10011612999
During the last two decades, the discrete-choice modelling of labour supply decisions has become increasingly popular, starting with Aaberge et al. (1995) and van Soest (1995). Within the literature adopting this approach there are however two potentially important issues that are worthwhile...
Persistent link: https://www.econbiz.de/10003283433
A key assumption in regression discontinuity analysis is that units cannot manipulate the value of their running variable in a way that guarantees or avoids assignment to the treatment. Standard identification arguments break down if this condition is violated. This paper shows that treatment...
Persistent link: https://www.econbiz.de/10011428251
Most empirical studies of the impact of labour income taxation on the labour supply behaviour of households use a unitary modelling approach. In this paper we empirically analyze income taxation and the choice of working hours by combining the collective approach for household behaviour and the...
Persistent link: https://www.econbiz.de/10011376311
While stock market expectations are among the most important primitives of portfolio choice models, their measurement has proved challenging for some respondents. We argue that the magnitude of measurement error in subjective expectations can be used as an indicator of the degree to which...
Persistent link: https://www.econbiz.de/10010414230
The paper provides a theoretical foundation for the empirical regularities observed in estimations of wage consequences of overeducation and undereducation. Workers with more education than required for their jobs are observed to suffer wage penalties relative to workers with the same education...
Persistent link: https://www.econbiz.de/10009672284
Forecasting errors pose a serious problem of identification, often neglected in empirical applications. Any attempt of estimating choice models under uncertainty may lead to severely biased results in the presence of forecasting errors even when individual expectations on future events are...
Persistent link: https://www.econbiz.de/10003816521
Gender wage differentials, conditional on observed productivity characteristics, have been considered a possible indication of prejudice against women in the labor market. However, there is no conclusive evidence on whether these differentials are due to labor market discrimination or to...
Persistent link: https://www.econbiz.de/10003115150
This paper investigates the effect of grouping students by prior achievement into different classes (or schools) in settings where students are competing for admission to programs offering only a limited number of places. We first develop a model that identifies the conditions under which the...
Persistent link: https://www.econbiz.de/10013170260
In cases of non-compliance with a prescribed treatment, estimates of causal effects typically rely on instrumental variables. However, when participation is also misreported, this approach can be severely biased. We provide an instrumental variable method that researchers can use to identify the...
Persistent link: https://www.econbiz.de/10013286037