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November 2019

Frank Partnoy, UC Berkeley: The Ratio Problem

November 19 @ 11:00 am - 12:30 pm
1011 Evans Hall, 1011 Evans Hall
Berkeley, CA 94720 United States

ABSTRACT: We describe two problems – omitted variable bias and measurement error – that arise when a ratio is the dependent variable in a linear regression. First, we show how bias can arise from the omission of two variables based on a ratio’s denominator, and we describe tests for the degree of bias. As an example, we show that the familiar “inverse U” relationship between managerial ownership and Tobin’s Q is reversed when omitted variables are included. Second, we show how…

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December 2019

TBD

December 3 @ 11:00 am - 12:30 pm
1011 Evans Hall, 1011 Evans Hall
Berkeley, CA 94720 United States
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