instrumenting

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Are Longer Bankruptcies Really More Costly?

We test the widely held assumption that longer restructurings are more costly. In contrast to earlier studies, we use instrumental variables to control for the endogeneity of restructuring time and creditor return. Instrumenting proves critical to our finding that creditor recovery rates increase with duration for roughly 1½ years following...

Tags: Federal Reserve Board, Bankruptcy, Duration, Governor, Instrumenting, Corporate Governance, Litigation, Business Operations, Corporate Law

White papers 2006-06-01

Additional Resources

Web 2.0 is Stuck at a Local Optimum

Sketch of a fitness landscape. The arrows indicate the preferred flow of a population on the landscape, and the points A, B, and C are local optima. The red ball indicates a population that moves from a very low fitness value to the top of a...

Tags: General, Web, Web 2.0, social networking, local group, network, fitness, Channel management

Blog posts 2007-02-11

Estimation and Identification of Merger Effects: An Application to Hospital Mergers

Advances in structural demand estimation have substantially improved economists' ability to forecast the impact of mergers. To obtain an accurate estimate of the ex-post effect of consummated mergers, the paper proposes a combination of rival analysis and instrumental variables. By focusing on the effect of merger on the behavior of...

Tags: Hospital, Merger, Mergers & Acquisitions, Investment, Finance

White papers 2005-09-01

Enforcement Of Regulation, Informal Labor And Firm Performance

This paper investigates how enforcement of labor regulation affects the firm's use of informal employment and its impact on firm performance. Using firm level data on informal employment and firm performance, and administrative data on enforcement of regulation at the city level, paper shows that in areas where law enforcement...

Tags: Performance, Enforcement, Performance Management, Regulations, Human Resources, Workforce Management, Government

White papers 2005-09-01

Twitter Funded: Will It Restore Stability?

Twitter has received $15 million in venture funding, according to Om Malik. Now the fun really begins: Twitter needs to change its architecture on the fly. Om reports that the latest round means that Twitter has raised about $20 million in total VC backing. ...

Tags: Twitter, Ruby On Rails, Scripting Languages, Web Servers, Strategy, Software/Web Development, Web Development, Internet, Management, Larry Dignan

Blog posts 2008-05-22