1. Introduction and Overview. 2. Detecting Influential Observations and Outliers. 3. Detecting and Assessing Collinearity. 4. Applications and Remedies. 5. Research Issues and Directions for Extensions. Bibliography. Author Index. Subject Index.

Regression Diagnostics: Identifying Influential Data and Sources of Collinearity

Offering a unifying theoretical perspective not readily available in any other text, this innovative guide to econometrics uses simple geometrical arguments to develop students' intuitive understanding of basic and advanced topics, emphasizing throughout the practical applications of modern theory and nonlinear techniques of estimation. One theme of the text is the use of artificial regressions for estimation, reference, and specification testing of nonlinear models, including diagnostic tests for parameter constancy, serial correlation, heteroscedasticity, and other types of mis-specification. Explaining how estimates can be obtained and tests can be carried out, the authors go beyond a mere algebraic description to one that can be easily translated into the commands of a standard econometric software package. Covering an unprecedented range of problems with a consistent emphasis on those that arise in applied work, this accessible and coherent guide to the most vital topics in econometrics today is indispensable for advanced students of econometrics and students of statistics interested in regression and related topics. It will also suit practising econometricians who want to update their skills. Flexibly designed to accommodate a variety of course levels, it offers both complete coverage of the basic material and separate chapters on areas of specialized interest.

Estimation and Inference in Econometrics

The Social Psychology of Organizations.

The 2008 crash has left all the established economic doctrines - equilibrium models, real business cycles, disequilibria models - in disarray. Part of the problem is due to Smith’s "veil of ignorance": individuals unknowingly pursue society’s interest and, as a result, have no clue as to the macroeconomic effects of their actions: witness the Keynes and Leontief multipliers, the concept of value added, fiat money, Engel’s law and technical progress, to name but a few of the macrofoundations of microeconomics. A good viewpoint to take bearings anew lies in comparing the post-Great Depression institutions with those emerging from Thatcher and Reagan’s economic policies: deregulation, exogenous vs. endoge- nous money, shadow banking vs. Volcker’s Rule. Very simply, the banks, whose lending determined deposits after Roosevelt, and were a public service became private enterprises whose deposits determine lending. These underlay the great moderation preceding 2006, and the subsequent crash.

The Economic Institutions of Capitalism

Social Psychology of Organizations

https://dspace.stir.ac.uk/bitstream/1893/10434/1/THE%20EXTENT%20OF%20CORPORATE%20GOVERNANCE%20DISCLOSURE%20AND%20ITS%20DETERMINANTS%20IN%20A%20DEVELOPING%20MARKET%20THE%20CASE%20OF%20EGYPT.pdf

The extent of corporate governance disclosure and its determinants in a developing market: The case of Egypt

Purpose – The purpose of this paper is to contribute to the existing disclosure literature by examining the determinants of narrative risk information in the interim reports for a sample of UK non‐financial companies.Design/methodology/approach – This study uses the manual content analysis to measure the level of risk information in interim report narrative sections prepared by 72 UK companies. It also uses the ordinary least squares regression analysis to examine the impact of firm‐specific characteristics and corporate governance mechanisms on narrative risk disclosures.Findings – The empirical analysis shows that large firms are more likely to disclose more risk information in the narrative sections of interim reports. In addition, the analysis shows that industry activity type is positively associated with levels of narrative risk disclosure in interim reports. Finally, the analysis shows statistically insignificant impact of other firm‐specific characteristics (liquidity, gearing, profitability, and ...

/pdf/determinants-of-narrative-risk-disclosures-in-uk-interim-94zezuuyhj.pdf

Determinants of narrative risk disclosures in UK interim reports

– The purpose of this paper is to examine the association between corporate environmental disclosure (CED) and earnings management (EM) and the impact of corporate governance (CG) mechanisms on that association., – The paper uses performance‐matched discretionary accruals (DA) as a measure of EM. The paper also uses ordinary least square regression with robust standard errors to examine the association between CED and EM for a sample of 245 UK non‐financial firms for the financial year ended on March 2007. Three different theoretical frameworks are used to identify the expected association between CER and EM. These include: signalling, agency and stakeholder‐legitimacy theories., – The paper finds no significant statistical association between various measures of DA and environmental disclosure. The paper also finds that some CG attributes affect the relationship between CER and EM., – The result suggests that UK corporate managers are not using environmental disclosure as a technique to reduce the probability that public policy actions will be taken against their companies., – Since most empirical research is limited to the US setting, this paper provides a novel contribution to the existing literature, as one of the first to examine this issue in the UK.

/pdf/corporate-environmental-disclosure-corporate-governance-and-7zapajv7pk.pdf

Corporate Environmental Disclosure, Corporate Governance and Earnings Management

Purpose – The purpose of this paper is to examine the relation between dividend policy and share price changes in the UK stock market.Design/methodology/approach – Multiple regression analyses are used to explore the association between share price changes and both dividend yield and dividend payout ratio.Findings – A positive relation is found between dividend yield and stock price changes, and a negative relation between dividend payout ratio and stock price changes. In addition, it is shown that a firm's growth rate, debt level, size and earnings explain stock price changes.Practical implications – The paper supports the fact that dividend policy is relevant in determining share price changes for a sample of firms listed in the London Stock Exchange.Originality/value – To the best of the authors' knowledge, this paper is the first to show that corporate dividend policy is a key driver of stock price changes in the UK.

/pdf/dividend-policy-and-share-price-volatility-uk-evidence-rhssemea70.pdf

Dividend policy and share price volatility: UK evidence

Purpose – The purpose of this paper is to examine the potential factors that may affect the level of corporate internet reporting by Egyptian listed companies.Design/methodology/approach – The content analysis approach to examine the information cited by the largest Egyptian companies is used in their web sites. The paper modifies and uses the disclosure index of Xiao et al. Ordinary least square multiple regression analysis is used to examine the determinants of the internet reporting.Findings – It is found that 56 per cent of Egyptian companies report a significant portion of information on their web sites. In addition, the paper finds that some financial characteristics explain the variation in the degree of internet reporting between Egyptian listed companies. In particular, profitability, foreign listing and industrial type (communications and financial services) are the determinants of the amount and presentation formatting of information disclosed on Egyptian companies' web sites. However, other fi...

/pdf/determinants-of-corporate-internet-reporting-evidence-from-59r5ex4ndj.pdf

Khaled Hussainey

Papers

The extent of corporate governance disclosure and its determinants in a developing market: The case of Egypt

Determinants of narrative risk disclosures in UK interim reports

Corporate Environmental Disclosure, Corporate Governance and Earnings Management

Dividend policy and share price volatility: UK evidence

Determinants of corporate internet reporting: evidence from Egypt