Demsetz and Lehn (1985), Morck, Shleifer, and Vishny (1988), and McConnell and Servaes (1990) report different empirical findings regarding ownership structure and corporate profitability. In this paper, we re-estimate the relation between management ownership and firm's value after controlling...

This study presents a general methodology for fitting multiple time series models to panel data. The basic statistical framework considered here consists of a dynamic simultaneous equation model where disturbances follow a permanent-transitory scheme with transitory components generated by a...

This study presents a general methodology for fitting multiple time series models to panel data. The basic statistical framework considered here consists of a dynamic simultaneous equation model where disturbances follow a permanent-transitory scheme with transitory components generated by a...

This paper surveys new methods for estimatifg labor supply functions. A unified framework of analysis is presented. All recent models of labor supply are special cases of a general index function model developed for the analysis o dummy endogenous variables

This paper surveys new methods for estimatifg labor supply functions. A unified framework of analysis is presented. All recent models of labor supply are special cases of a general index function model developed for the analysis o dummy endogenous variables

A majority of existing empirical studies report different relation between ownership and firm value using different sets of cross-sectional data. In this paper, we re-estimate the relation between management ownership and firm value after controlling for the history of management ownership as...