Transition from economic theory to a testable form of model invariably involves the use of certain "simplifying assumptions." If, however, these are not valid, misspecified models result. This article considers estimation of the dynamic linear panel data model, which often forms the basis of...

This paper analyses direct and indirect forms of dependence in the probability of scoring in a handball match, taking into account the mutual influence of both playing teams. Non-identical distribution (i.d.) and non-stationarity, which are commonly observed in sport games, are studied through...

This paper provides new international evidence on the relationship between dividend policy and insider ownership by analysing a sample of USA, UK and Irish firms characterized by an Anglo-Saxon tradition and a matching sample of other EU companies from Civil Law legal systems. We hypothesize...

We develop an econometric model for firm exit, using stochastic dynamic programming (SDP) as a starting point. According to SDP, the value of an operating firm can be written as the sum of (i) the net present value of continuing production if the firm is committed to a future exit date, and (ii)...

We develop an econometric model for firm exit, using stochastic dynamic programming (SDP) as a starting point. According to SDP, the value of an operating firm can be written as the sum of (i) the net present value of continuing production if the firm is committed to a future exit date, and (ii)...