On the use of instrumental variables in accounting research
Tài liệu tham khảo
Abernethy, 2004, Determinants of control system design in divisionalized firms, The Accounting Review, 79, 545, 10.2308/accr.2004.79.3.545
Aboody, 1996, Market valuation of employee stock options, Journal of Accounting and Economics, 22, 357, 10.1016/S0165-4101(96)00439-9
Aboody, 2004, SFAS No. 123 stock-based compensation expense and equity market values, The Accounting Review, 79, 251, 10.2308/accr.2004.79.2.251
Anderson, 2004, Board characteristics, accounting report integrity, and the cost of debt, Journal of Accounting and Economics, 37, 315, 10.1016/j.jacceco.2004.01.004
Angrist, 1991, Does compulsory school attendance affect schooling and earnings?, Quarterly Journal of Economics, 106, 979, 10.2307/2937954
Ball, 2005, Earnings quality in UK private firms: comparative loss recognition timeliness, Journal of Accounting and Economics, 39, 83, 10.1016/j.jacceco.2004.04.001
Bartels, 1991, Instrumental and ‘quasi-instrumental’ variables, American Journal of Political Science, 35, 777, 10.2307/2111566
Barth, 2001, Analyst coverage and intangible assets, Journal of Accounting Research, 39, 1, 10.1111/1475-679X.00001
Barton, 2001, Does the use of financial derivatives affect earnings management decisions?, The Accounting Review, 76, 1, 10.2308/accr.2001.76.1.1
Barton, 2004, Investor protection under unregulated financial reporting, Journal of Accounting and Economics, 38, 65, 10.1016/j.jacceco.2004.06.001
Beatty, 1995, Managing financial reports of commercial banks: the influence of taxes, regulatory capital, and earnings, Journal of Accounting Research, 33, 231, 10.2307/2491487
Beaver, 1970, The association between market determined and accounting determined risk measures, Accounting Review, 45, 654
Beaver, 1997, The information content of earnings and prices: a simultaneous equations approach, Journal of Accounting and Economics, 23, 53, 10.1016/S0165-4101(96)00424-7
Bell, 2002, The valuation implications of employee stock option accounting for profitable computer software firms, The Accounting Review, 77, 971, 10.2308/accr.2002.77.4.971
Botosan, 1997, Disclosure level and the cost of equity capital, The Accounting Review, 72, 323
Botosan, 2002, A re-examination of disclosure level and expected cost of equity capital, Journal of Accounting Research, 40, 21, 10.1111/1475-679X.00037
Bound, 1995, Problems with instrumental variables estimation when the correlation between the instruments and the endogenous explanatory variable is weak, Journal of the American Statistical Association, 90, 443
Brown, 2004, Conference calls and information asymmetry, Journal of Accounting and Economics, 37, 343, 10.1016/j.jacceco.2004.02.001
Brown, 2007, How disclosure quality affects the level information asymmetry, Review of Accounting Studies, 12, 443, 10.1007/s11142-007-9032-5
Bushee, 2003, Open versus closed conference calls: the determinants and effects of broadening access to disclosure, Journal of Accounting and Economics, 34, 149, 10.1016/S0165-4101(02)00073-3
Callen, 2005, Domestic and foreign earnings, stock return variability, and the impact of investor sophistication, Journal of Accounting Research, 43, 377, 10.1111/j.1475-679x.2005.00175.x
Chaney, P., Jeter, D., Shivakumar, L., 2008. Self-selection models and endogeneity issues in accounting research: the case of audit pricing. Working Paper, Vanderbilt University.
Claus, 2001, Equity premia as low as three percent? Evidence from analysts’ earnings forecasts for domestic and international stock markets, Journal of Finance, 56, 1629, 10.1111/0022-1082.00384
Cohen, 2008, Does information risk really matter? An analysis of the determinants and economic consequences of financial reporting quality, Asia Pacific Journal of Accounting and Economics, 15, 69, 10.1080/16081625.2008.9720812
Cohen, 1988
Copley, 1995, Simultaneous estimation of the supply and demand of differentiated audits: evidence from the municipal audit market, Journal of Accounting Research, 33, 137, 10.2307/2491296
Darrough, 2005, Do insiders manipulate earnings when they sell their shares in an initial public offering?, Journal of Accounting Research, 43, 1, 10.1111/j.1475-679x.2004.00161.x
DeFond, 2002, Do non-audit service fees impair auditor independence? Evidence from going concern audit opinions, Journal of Accounting Research, 40, 1247, 10.1111/1475-679X.00088
DiPrete, 2004, Assessing bias in the estimation of causal effects: Rosenbaum bounds on matching estimators and instrumental variables estimation with imperfect instruments, Sociological Methodology, 34, 271, 10.1111/j.0081-1750.2004.00154.x
D'Souza, 1998, Rate-regulated enterprises and mandated accounting changes: the case of electric utilities and post-retirement benefits other than pensions (SFAS No. 106), The Accounting Review, 73, 387
Francis, J., Lennox, C., 2008. Selection models in accounting research. Working Paper, University of Missouri at Columbia.
Frank, 2000, Impact of a confounding variable on a regression coefficient, Sociological Methods & Research, 29, 147, 10.1177/0049124100029002001
Frank, 2002, The impact of taxes on corporate defined benefit plan asset allocation, Journal of Accounting Research, 40, 1163, 10.1111/1475-679X.00085
Gebhardt, 2001, Toward an implied cost of capital, Journal of Accounting Research, 39, 135, 10.1111/1475-679X.00007
Gode, 2003, Inferring cost of capital using the Ohlson–Juettner model, Review of Accounting Studies, 8, 399, 10.1023/A:1027378728141
Godfrey, 1994, Discriminating between errors-in-variables/simultaneity and misspecification in linear regression models, Economic Letters, 44, 359, 10.1016/0165-1765(94)90103-1
Greene, 2003
Guay, W.R., Kothari, S.P., Shu, S., 2003. Properties of implied cost of capital using analysts’ forecasts. Working Paper, University of Pennsylvania.
Hahn, 2003, Weak instruments: diagnoses and cures in empirical econometrics, American Economic Review, 93, 118, 10.1257/000282803321946912
Hail, 2002, The impact of voluntary disclosure on the ex ante cost of capital for Swiss firms, European Accounting Review, 11, 741, 10.1080/0963818022000001109
Hall, 1996, Judging instrument relevance in instrumental variables estimation, International Economic Review, 37, 283, 10.2307/2527324
Hamermesh, 2000, The craft of labormetrics, Industrial and Labor Relations Review, 53, 363, 10.1177/001979390005300301
Hanlon, 2003, Are executive stock options associated with future earnings?, Journal of Accounting and Economics, 36, 3, 10.1016/j.jacceco.2003.10.008
Hausman, 1978, Specification tests in econometrics, Econometrica, 46, 1251, 10.2307/1913827
Haw, 2004, Ultimate ownership, income management, and legal and extra-legal institutions, Journal of Accounting Research, 42, 423, 10.1111/j.1475-679X.2004.00144.x
Heckman, 1978, Dummy endogenous variables in a simultaneous equation system, Econometrica, 46, 931, 10.2307/1909757
Heckman, 1979, Sample selection bias as a specification error, Econometrica, 47, 153, 10.2307/1912352
Holthausen, 1995, Business unit innovation and the structure of executive compensation, Journal of Accounting and Economics, 19, 279, 10.1016/0165-4101(94)00385-I
Hope, 2003, Disclosure practices, enforcement of accounting standards, and analysts’ forecast accuracy: an international study, Journal of Accounting Research, 41, 235, 10.1111/1475-679X.00102
Hunt, 1996, Managing interacting accounting measures to meet multiple objectives: a study of LIFO firms, Journal of Accounting and Economics, 21, 339, 10.1016/0165-4101(96)00422-3
Kang, 1995, Issues in testing earnings management and an instrumental variable approach, Journal of Accounting Research, 33, 353, 10.2307/2491492
Kasznik, 1999, On the association between voluntary disclosure and earnings management, Journal of Accounting Research, 37, 57, 10.2307/2491396
Keating, 1997, Determinants of divisional performance evaluation practices, Journal of Accounting and Economics, 24, 243, 10.1016/S0165-4101(98)00008-1
Khurana, 2004, Litigation risk and the financial reporting credibility of Big 4 versus non-Big 4 audits: evidence from Anglo-American countries, The Accounting Review, 79, 473, 10.2308/accr.2004.79.2.473
Kothari, 1995, Price and return models, Journal of Accounting and Economics, 20, 155, 10.1016/0165-4101(95)00399-4
Lambert, 2007, Accounting information, disclosure, and cost of capital, Journal of Accounting Research, 45, 385, 10.1111/j.1475-679X.2007.00238.x
Lang, 2004, Concentrated control, analyst following, and valuation: do analysts matter most when investors are protected least?, Journal of Accounting Research, 42, 589, 10.1111/j.1475-679X.2004.t01-1-00142.x
Leuz, 2000, The economic consequences of increased disclosure, Journal of Accounting Research 38, Supplement: Studies on Accounting Information and the Economics of the Firm, 91, 10.2307/2672910
Lev, 1996, The capitalization, amortization, and value-relevance of R&D, Journal of Accounting and Economics, 21, 107, 10.1016/0165-4101(95)00410-6
Loudder, 1996, Market valuation of regulatory assets in public utility firms, The Accounting Review, 71, 357
Lundholm, 2002, Bringing the future forward: the effect of disclosure on the returns–earnings relation, Journal of Accounting Research, 40, 809, 10.1111/1475-679X.00072
Maddala, 1977
Moreira, M.J., 2002. Tests with correct size in the simultaneous equations model. Ph.D. Thesis, University of California, Berkeley.
Moreira, 2001, Implementing tests with correct size in the simultaneous equation model, The Stata Journal, 1, 1
Murphy, 2000, Performance standards in incentive contracts, Journal of Accounting and Economics, 30, 245, 10.1016/S0165-4101(01)00013-1
Nagar, 2002, Delegation and incentive compensation, The Accounting Review, 77, 379, 10.2308/accr.2002.77.2.379
Nelson, 1990, The distribution of the instrumental variables estimator and its t-ratio when the instrument is a poor one, Journal of Business, 63, s125, 10.1086/296497
Nelson, 1990, Some further results on the exact small sample properties of the instrumental variable estimator, Econometrica, 58, 967, 10.2307/2938359
Ng, 2008, Implications of transaction costs for the post earnings announcement drift, Journal of Accounting Research, 46, 661, 10.1111/j.1475-679X.2008.00290.x
Phillips, 2003, Corporate tax-planning effectiveness: the role of compensation-based incentives, The Accounting Review, 78, 847, 10.2308/accr.2003.78.3.847
Rajgopal, 2002, Empirical evidence on the relation between stock option compensation and risk taking, Journal of Accounting and Economics, 33, 145, 10.1016/S0165-4101(02)00042-3
Rajgopal, 2003, The value relevance of network advantages: the case of e-commerce firms, Journal of Accounting Research, 41, 135, 10.1111/1475-679X.00099
Reiss, 2001, Structural econometric modeling: rationales and examples from industrial organization, Handbook of Econometrics, 5
Richardson, 1968, The exact distribution of a structural coefficient estimator, Journal of the American Statistical Association, 63, 1214, 10.1080/01621459.1968.10480921
Rosenbaum, 2002
Rosenzweig, 2000, Natural “natural experiments” in economics, Journal of Economic Literature, 38, 827, 10.1257/jel.38.4.827
Roulstone, 2003, The relation between insider-trading restrictions and executive compensation, Journal of Accounting Research, 41, 525, 10.1111/1475-679X.00115
Sawa, 1969, The exact sampling distribution of ordinary least squares and two-stage least squares estimators, Journal of the American Statistical Association, 64, 923, 10.1080/01621459.1969.10501024
Shi, 2003, On the trade-off between the future benefits and riskiness of R&D: a bondholders’ perspective, Journal of Accounting and Economics, 35, 227, 10.1016/S0165-4101(03)00020-X
Shugan, 2004, Endogeneity in marketing decision models, Marketing Science, 23, 1, 10.1287/mksc.1040.0060
Staiger, 1997, Instrumental variables regression with weak instruments, Econometrica, 65, 557, 10.2307/2171753
Stock, 2002, A survey of weak instruments and weak identification in generalized method of moments, Journal of Business & Economics Statistics, 20, 518, 10.1198/073500102288618658
Weber, 2003, Do expert informational intermediaries add value? Evidence from auditors in microcap initial public offerings, Journal of Accounting Research, 41, 681, 10.1111/1475-679X.00120
Whisenant, 2003, Evidence on the joint determination of audit and non-audit fees, Journal of Accounting Research, 41, 721, 10.1111/1475-679X.00121
Willenborg, 1999, Empirical analysis of the economic demand for auditing in the initial public offerings market, Journal of Accounting Research, 37, 225, 10.2307/2491405
Wooldridge, 2002
Zivot, 1998, Valid confidence intervals and inference in the presence of weak instruments, International Economic Review, 39, 1119, 10.2307/2527355