计量经济分析 = Econometric analysis

Redesigning Social Inquiry Fuzzy Sets And Beyond

Can Investors Profit from the Prophets? Security Analyst Recommendations and Stock Returns

In this position paper, I argue that the main purpose of research is to discover and report on phenomena in a truthful manner. Once uncovered, these phenomena can have important implications for society. The utility of research depends on whether it makes a contribution because it is original or can add to cumulative research efforts, is rigorously and reliably done, and is able to inform basic or applied research and later policy. However, five serious “diseases” stifle the production of useful research. These diseases include: significosis , an inordinate focus on statistically significant results; neophilia , an excessive appreciation for novelty; theorrhea , a mania for new theory; arigorium , a deficiency of rigor in theoretical and empirical work; and finally, disjunctivitis , a proclivity to produce large quantities of redundant, trivial, and incoherent works. I surmise that these diseases have caused immense harm to science and have cast doubt on the role of science in society. I discuss what publication gatekeepers should do to eradicate these diseases, to stimulate the undertaking of more useful and impactful research, and to provide the needed incentives to better align the interests of researchers with those of the greater good. Finally, I highlight where technical improvements are needed to enhance research quality, and call on deeper reflection, transparency, and honesty in how we do research.

/pdf/on-doing-better-science-from-thrill-of-discovery-to-policy-4rt90r0yc7.pdf

On doing better science: From thrill of discovery to policy implications

Regression analysis for categorical moderators

Research summary: The use of Heckman models by strategy scholars to resolve sample selection bias has increased by more than 700 percent over the last decade, yet significant inconsistencies exist in how they have applied and interpreted these models. In view of these differences, we explore the drivers of sample selection bias and review how Heckman models alleviate it. We demonstrate three important findings for scholars seeking to use Heckman models: First, the independent variable of interest must be a significant predictor in the first stage of a model for sample selection bias to exist. Second, the significance of lambda alone does not indicate sample selection bias. Finally, Heckman models account for sample-induced endogeneity, but are not effective when other sources of endogeneity are present. Managerial summary: When nonrandom samples are used to test statistical relationships, sample selection bias can lead researchers to flawed conclusions that can, in turn, negatively impact managerial decision-making. We examine the use of Heckman models, which were designed to resolve sample selection bias, in strategic management research and highlight conditions when sample selection bias is present as well as when it is not. We also distinguish sample selection bias, a form of omitted variable (OV) bias, from more traditional OV bias, emphasizing that it is possible for models to have sample selection bias, traditional OV bias, or both. Accurately identifying the type(s) of OV bias present is essential to effectively correcting it. We close with several recommendations to improve practice surrounding the use of Heckman models. Copyright © 2015 John Wiley & Sons, Ltd.

Sample selection bias and Heckman models in strategic management research

The use of Heckman models by strategy scholars to resolve sample selection bias has increased by more than 700 percent over the last decade, yet significant inconsistencies exist in how strategy sc...

Sample Selection Bias and Heckman Models in Strategic Management Research

Toward a Configurational Perspective on the CEO A Review and Synthesis of the Management Literature

Despite scholars’ admonitions regarding the use of ratios in statistical analyses, the practice is common in management research. This is particularly true in the area of strategic management, wher...

John R. Busenbark

Papers

Sample selection bias and Heckman models in strategic management research

Sample Selection Bias and Heckman Models in Strategic Management Research

Toward a Configurational Perspective on the CEO A Review and Synthesis of the Management Literature

Divided We Fall: How Ratios Undermine Research in Strategic Management

Omitted Variable Bias: Examining Management Research With the Impact Threshold of a Confounding Variable (ITCV):