We use instrumental variables methods to disentangle the effect of founder–CEOs on performance from the effect of performance on founder–CEO status. Our instruments for founder–CEO status are the proportion of the firm's founders that are dead and the number of people who founded the...

In applied work economists often seek to relate a given response variable y to some causal parameter mu* associated with it. This parameter usually represents a summarization based on some explanatory variables of the distribution of y, such as a regression function, and treating it as a...

In randomized clinical trials where the effects of post-randomization factors are of interest, the standard regression analyses are biased due to unmeasured confounding. The instrumental variables (IV; Angrist et al., 1996) and G-estimation procedures under structural nested mean models (SNMMs;...