| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15549 |
| DP15549 Spillover Effects in Empirical Corporate Finance | |
| Tobias Berg; Markus Reisinger; Daniel Streitz | |
| 发表日期 | 2020-12-11 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Despite their importance, the discussion of spillover effects in empirical research often misses the rigor dedicated to endogeneity concerns. We analyze a broad set of workhorse models of firm interactions and show that spillovers naturally arise in many corporate finance settings. This has important implications for the estimation of treatment effects: i) even with random treatment, spillovers lead to a complicated bias, ii) fixed effects can exacerbate the spillover-induced bias. We propose simple diagnostic tools for empirical researchers and illustrate our guidance in an application. |
| 主题 | Financial Economics |
| 关键词 | Spillovers Direct vs. indirect effects Credit supply |
| URL | https://cepr.org/publications/dp15549 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544553 |
| 推荐引用方式 GB/T 7714 | Tobias Berg,Markus Reisinger,Daniel Streitz. DP15549 Spillover Effects in Empirical Corporate Finance. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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