Generalized reduced rank tests using the singular value decomposition

Kleibergen, Frank; Paap, Richard

doi:10.1016/j.jeconom.2005.02.011

Cited by 1,974 publications

(651 citation statements)

References 27 publications

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“…First, on the relevance of the instruments, the high Shea (1997) partial-R 2 statistics (in the range of 0.08 to 0.13) indicate that both instruments strongly correlate with LFO. This is further supported by the Kleibergen and Paap (2006) Wald statistics, which mostly exceed the highest recommended critical value. Second, to test the exclusion condition, we report the Hansen (1982) J statistics, which are statistically insignificant.…”

Section: Endogeneitymentioning

confidence: 55%

Large Foreign Ownership and Firm-Level Stock Return Volatility in Emerging Markets

Li¹,

Nguyễn²,

Pham

et al. 2010

SSRN Journal

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This study constructs a firm-level measure of large foreign ownership (LFO) and investigates its impact on stock return volatility in 31 emerging markets. We find a negative relationship between LFO and volatility, even after controlling for potential endogeneity and the impact of major domestic shareholders. This suggests a stabilizing role of LFO in emerging markets, which is consistent with previous suggestions in the literature on the strong commitments and potential monitoring role of large foreign shareholders. Overall, our study highlights the importance of recognizing the heterogeneity among foreign investors and the benefits of large foreign shareholders to emerging stock markets.

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Section: Endogeneitymentioning

confidence: 55%

Large Foreign Ownership and Firm-Level Stock Return Volatility in Emerging Markets

Li¹,

Nguyễn²,

Pham

et al. 2010

SSRN Journal

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“…We estimated a first stage linear regression in which co-residence was the dependent variable and independent variables included the instruments and all control variables included in the second stage. We tested for joint significance of the instruments using the Kleibergen-Paap Wald F-statistic test (Kleibergen & Paap, 2006). The null hypothesis for this test is that the instrument is not correlated with co-residence.…”

Section: Empirical Approachmentioning

confidence: 99%

Under one roof: The effect of co-residing with adult children on depression in later life

Courtin

Avendaño

2016

Social Science & Medicine

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Rationale. The number of older parents living without adult children has increased dramatically over the last decades. However, recent trends exacerbated by the Great Recession have led to an increase in intergenerational co-residing. Methods. We used three waves of data (2004)(2005)(2006)(2007)(2008)(2009)(2010) from the Survey of Health, Ageing and Retirement in Europe (SHARE) collected around the great recession to assess the effects of intergenerational co-residence on mental health in later life (n=50,043). We used an instrumental variable approach that exploits changes in employment opportunities of adult children during the great recession to examine the impact of coresiding with adult children on depression scores measured using the Euro-D scale of depression. Results. Northern European countries exhibited low levels of both co-residence and depression in older age, while most countries in Eastern and Southern Europe had high levels of both co-residence and depression. In OLS models that controlled for measured characteristics, co-residing with an adult child was not associated with depressive symptoms in older parents (β=-0.0387; 95% CI -0.0892 to 0.0118). By contrast, results from IV models suggest that co-residing with an adult child significantly reduces depressive symptoms by 0.731 points (95% CI -1.261 to -0.200) on the 12-item scale.Results were robust to a series of robustness checks including controls for child characteristics, country-specific time trends, and analyses restricted to homeowners. Conclusions. Our findings suggest that, in the context of high unemployment rates during the Great Recession in Europe, increased intergenerational exchange between adult children and older parents in the form of co-residence had positive mental health effects on older parents.

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“…Second, we discuss whether we are subject to a weak instruments problem. To test for weak instruments, we report the Kleibergen and Paap (2006) rk statistic, which is a generalization of the weak IV test to the case of non-i.i.d. errors.…”

Section: The E¤ect Of Blogs On Friendsmentioning

confidence: 99%

Social Ties and User-Generated Content: Evidence from an Online Social Network

2013

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We use variation in wind speeds at sur…ng locations in Switzerland as plausibly exogenous shifters of users'propensity to post content about their sur…ng activity onto an online social network. We exploit this variation to test whether users'online content generation activity a¤ects their social ties, and whether ties in turn a¤ects content generation. Under weak monotonicity assumptions, we also estimate nonparametric bounds on these e¤ects. Economically signi…cant e¤ects of the type above can produce positive feedback that generates local network e¤ects in content generation. When quantitatively signi…cant, the increased content and tie density arising from the network e¤ect induces more visitation and browsing on the site, which fuels growth by generating advertising revenue. We …nd evidence for such network e¤ects.

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Generalized reduced rank tests using the singular value decomposition

Cited by 1,974 publications

References 27 publications

Large Foreign Ownership and Firm-Level Stock Return Volatility in Emerging Markets

Large Foreign Ownership and Firm-Level Stock Return Volatility in Emerging Markets

Under one roof: The effect of co-residing with adult children on depression in later life

Social Ties and User-Generated Content: Evidence from an Online Social Network

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