Abstract A regressor is endogenous if it correlated with the unobserved residual of a model. Ignoring endogeneity may lead to biased coefficients. We deal omitted variable bias that arises firms set marketing variables considering factors (demand shocks) researchers do not observe. Whereas publications on sales response or brand choice models frequently take potential into account, multicategor...

In this paper we discuss the derivation, and use a Monte Carlo study to examine the finite sample performances of select estimators put forth in Martins-Filho et al. (2015) for partially linear semiparametric models under nonparametric endogeneity. We find that the selected estimators suciently account for the explicit nonparametric endogeneity of the underlying model in finite samples, and con...

This paper shows that the positive correlation between the presence of institutional investors and a firm’s likelihood of being acquired is due to ownership endogeneity, i.e., due to the fact that institutions are better informed investors. After controlling for this ownership endogeneity, the presence of institutional investors reduces the probability of being acquired. There is also evidence ...

Is financial literacy a substitute or complement for financial advice? We analyze the decision by consumers to seek financial advice in the form of credit counseling. Credit counseling is an important component of the consumer credit sector for consumers facing debt problems. Our analysis accounts for the endogeneity of an individual’s financial situation to financial literacy, and the endogene...

mfi-type zeolite membranes (zsm-5) were prepared on α-alumina tubular supports and tested for separation of h2/co mixtures. the effect of pressure and temperature on h2 and co flows and selectivity was investigated. the best results in this work were obtained with a zsm-5 membrane prepared over a porous α-alumina tube seeded with zeolite nanocrystals synthesized with microwave technique. in thi...

asymmetrically mixed matrix matrimid-mil-53 membranes with silicone cover layer were fabricated. for better understanding of membrane fabrication process, three main parameters of fabrication, matrimid concentration, silicone concentration and weight percentage of metal organic framework (mil-53) particles, were optimized by an experimental design method. cross-section sem images were used to s...