Consider the model Y=m(X)+[epsilon], where m([dot operator])=med(Y[dot operator]) is unknown but smooth. It is often assumed that [epsilon] and X are independent. However, in practice this assumption is violated in many cases. In this paper we propose modeling the dependence between [epsilon]...

In this paper we extend the conditional Koziol-Green model of Veraverbeke, N. and Cadarso Suárez, C. [2000. Estimation of the conditional distribution in a conditional Koziol-Green model. Test 9, 97-122] to also accommodate dependent censoring and in this way introduce a model with two...

Recent studies in corporate finance estimate firm-varying investment-cash flow sensitivities (ICFS) when empirically studying financing constraints. We go along with this approach but suggest two methodological improvements. First, we estimate firm-varying ICFS by modeling heterogeneous slopes...

This study examines the choice of flotation mechanism within the framework of the French Second Market. Between 1983 and 1996, a firm that opted for a quotation on the Second Market, had the choice between (i) an auction-like procedure (there were two variants) and (ii) a fixed-price...

We evaluate two models commonly used for measuring financial constraints in their ability to discriminate between constrained and unconstrained firms. We compute firm-specific estimates for the "cash flow sensitivity of investment" (CFSI), and the "cash flow sensitivity of cash" (CFSC) and...

Recent studies in corporate finance estimate firm-varying investment-cash flow sensitivities (ICFS) when empirically studying financing constraints. We go along with this approach but suggest two methodological improvements. First, we estimate firm-varying ICFS by modeling heterogeneous slopes...

Modeling the farm level impact of risk management programs, policies and instruments is traditionally been done on a farm-level basis. Hence, farm simulation models typically use the behavioural assumption of profit or utility maximization is risk aversion taken into account. However, abundant...