We propose a semi-parametric approach to heterogeneous dynamic panel data modelling. The method generalizes existing … equilibrium exchange rate determination in a cross-country panel, we find evidence of largely heterogeneous adjustment and more …

The two-step GMM estimators of Arellano and Bond (1991) and Blundell and Bond (1998) for dynamic panel data models have … continuous-updating GMM estimator proposed by Hansen, Heaton, and Yaron (1996) is in principle able to reduce the small … computationally feasible variation on these standard two-step GMM estimators by applying the idea of continuous-updating to the …

shareholders and corporate risk. The findings suggest that celebrity shareholders increased corporate risk. And the main reason is …. Furthermore, this study finds that celebrity shareholders had a greater impact on corporate risk among firms with no independent … directors, a high proportion of management shareholders, a low proportion of institutional investors and those belonging to the …