Purpose - The objective of this paper is to investigate the direction of the causal relationship between dividend policy (DP) and earnings management (EM). Design/methodology/approach This research utilizes the panel data analysis to investigate the causal relationship between EM and DP. It...

The empirical analysis of the economic interactions between factors of production, output and corresponding prices has received much attention over the last two decades. Most contributions in this area have agreed on the neoclassical principle of a representative optimizing firm and typically...

Using a model selection approach, this thesis proposes a constructive data-and-theory-combined procedure to identify model structures in the framework of a linear simultaneous equations system based on observed data. A model structure is characterized by restrictions on the structural...

While a good deal of research in simultaneous equation models has been conducted to examine the small sample properties of coefficient estimators there has not been a corresponding interest in the properties of estimators for the associated variances. In this paper we build on Kiviet and...

The empirical analysis of the economic interactions between factors of production, output and corresponding prices has received much attention over the last two decades. Most contributions in this area have agreed on the neoclassical principle of a representative optimizing firm and typically...

Examining the identification problem in the context of a linear econometric model can be a tedious task. The order condition of identifiability is an easy condition to compute, though difficult to remember. The application of the rank condition, due to its complicated definition and its...

This paper investigates the effects of reducing subsidies for private health insurance on public sector expenditure for hospital care. An econometric framework using simultaneous equation models is developed to analyse the interrelated decisions on the intensity and type of health care use and...

This paper analyses the relationship between the characteristics of parents (namely, income, occupation and education) and the unemployment duration of their children using the job search theory. The empirical specification featured Lancaster’s (Econometrics 28:113–126, 1985) simultaneous...

We inspect the relationship between quality of work and productivity. Using Spanish aggregate data for the period 2001–2006, we find that quality of work is an additional factor to explain productivity levels in sectors and regions. Consequently, quality of work is not only an objective per...