scholarly journals MODEL NON REKURSIF DALAM ANALISIS JALUR

2020 ◽  
Vol 9 (1) ◽  
pp. 8
Author(s):  
DINIE ANEFI HAJARA ◽  
IZZATI RAHMI HG ◽  
FERRA YANUAR
Keyword(s):  
Least Squares ◽  
Ordinary Least Squares ◽  
Two Stage ◽  
Two Stage Least Squares

Analisis jalur adalah suatu teknik penggambaran dan pengujian model hubungan antar variabel yang berbentuk sebab akibat, yang dikembangkan dari analisis regresi sebagai metode untuk mempelajari pengaruh langsung atau tidak langsung dari variabel bebas terhadap variabel terikat. Jika ditinjau dari hubungan peubahnya, analisis jalur terbagi menjadi model rekursif dimana hubungan sebab akibat bergerak satu arah dan model non rekursif dimana hubungan sebab akibat bergerak dua arah atau timbal balik. Untuk menduga koefisien jalur model rekursif bisa digunakan metode Ordinary Least Squares (OLS), namun untuk model non rekursif penggunaan metode OLS tidak layak digunakan karena akan menghasilkan koefisien yang bias dan inkonsisten. Oleh karena itu, untuk menduga koefisien model non rekursif digunakan metode pendugaan lain salah satunya Two-Stage Least Squares (2SLS), yang merupakan pengembangan dari metode OLS. Pada penelitian ini untuk menduga koefisien model non rekursif digunakan metode jalur dan metode 2SLS dengan menggunakan data bangkitan. Hasil yang diperoleh dengan kedua metode ini tidak jauh berbeda, sehingga metode 2SLS menjadi metode alternatif untuk menduga koefisien jalur model non rekursif.Kata Kunci: Analisis jalur, model non rekursif, Two-Stage Least Squares (2SLS)

scholarly journals The effects of referees on the final score in football

2018 ◽  
Vol 35 (70) ◽  
pp. 79-98
Author(s):  
Matías Fontenla ◽  
Germán M. Izón
Keyword(s):  
Least Squares ◽  
Ordinary Least Squares ◽  
Two Stage ◽  
Home Team ◽  
Final Score ◽  
Crowd Size ◽  
Two Stage Least Squares

This paper examines whether there exists favouritism by individual referees in favour of the home team in Argentina’s first division football (soccer) league. We study 936 matches between 2008 and 2010, and run both ordinary least squares (OLS) and two-stage least squares (2-SLS) specifications. Using goal differential between the home and away teams as the dependent variable, we find that individual referees have a statistically significant effect on the score of the game, even after controlling for referee actions such as yellow and red cards, penalties awarded, and other factors such as team quality, crowd size, and crowd composition. Crowd size and composition do not seem to affect the outcome of the game.

scholarly journals Voluntary appointment of independent directors: evidence from Taiwan

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mao-Feng Kao ◽  
Lynn Hodgkinson ◽  
Aziz Jaafar
Keyword(s):  
Corporate Governance ◽  
Least Squares ◽  
Research Work ◽  
Ordinary Least Squares ◽  
Independent Directors ◽  
Parameter Estimates ◽  
Two Stage ◽  
Data Set ◽  
Content Type ◽  
Two Stage Least Squares

Purpose Using a data set of Taiwanese listed firms from 2002 to 2015, this paper aims to examine the determinants to voluntarily appoint independent directors. Design/methodology/approach This study uses panel estimation to exploit both the cross-section and time-series nature of the data. Further, this paper uses Tobit regression, generalized linear model (GLM) in the additional analysis and the two-stage least squares to mitigate for a possible endogeneity issue. Findings The main findings show that Taiwanese firms with large board sizes tend to voluntarily appoint independent directors and firms that already have independent supervisors more willingly to accept additional independent directors onto the board. Furthermore, ownership concentration and institutional ownership are positively associated with the voluntary appointment of independent directors. On the contrary, firms controlled by family members are generally reluctant to voluntarily appoint independent directors. Research limitations/implications The findings are important for managers, shareholders, creditors and policymakers. In particular, when considering the determinants of the voluntary appointment of independent directors, the results indicate that independent supervisors, outside shareholders and institutional investors are significant factors in influencing effective internal and external corporate governance mechanisms. This research work focuses on the voluntary appointment of independent directors. It would be interesting to compare the effectiveness of voluntary appointments with a mandatory appointment within Taiwan and with other jurisdictions. Originality/value This study incrementally contributes to the corporate governance literature in several ways. First, this study extends the earlier research by using a more comprehensive data set of non-financial Taiwanese firms and using alternative methodologies to investigate the determinants of voluntary appointment of independent directors. Second, prior studies tend to neglect the possible issue of using a censored and fractional dependent variable, the proportion of independent directors, which might yield biased and inconsistent parameter estimates when using ordinary least squares regression estimation. Finally, this study addresses the relevant econometric issues by using the Tobit, GLM and the two-stage least squares for a possible endogeneity concern.

scholarly journals A Comparison of Two-Stage Least Squares (TSLS) and Ordinary Least Squares (OLS) in Estimating the Structural Relationship between After-School Exercise and Academic Performance

Mathematics ◽  
2021 ◽  
Vol 9 (23) ◽  
pp. 3105
Author(s):  
Kyulee Shin ◽  
Sukkyung You ◽  
Mihye Kim
Keyword(s):  
Academic Performance ◽  
Least Squares ◽  
Least Squares Method ◽  
Ordinary Least Squares ◽  
Structural Relationship ◽  
After School ◽  
Full Model ◽  
Two Stage ◽  
Two Stage Least Squares ◽  
Exam Scores

The current study examines the structural relationship between the academic performance exam scores of Korean middle school students and their after-school exercise hours. Although prior literature theoretically or experimentally predicts that these variables are positively associated, this association is difficult to empirically verify without controlling for mutual effects with other variables, or unless a full model is estimated by specifying the whole structure of all variables affecting the two variables in question. Unlike previous studies, this study estimates the structural relationship using two-stage least squares method, which does not require experimental observations collected for our particular purpose or estimating the full model. From this estimation, we empirically affirm that there is a positive structural relationship between students’ after-school exercise hours and their academic performance exam scores, whereas the ordinary least squares method consistently estimates a negative relationship.

scholarly journals Investor relations and information asymmetry

2017 ◽  
Vol 28 (74) ◽  
pp. 297-312 ◽  
Author(s):  
Sandrielem da Silva Rodrigues ◽  
Fernando Caio Galdi
Keyword(s):  
Information Asymmetry ◽  
Least Squares ◽  
Listed Companies ◽  
Ordinary Least Squares ◽  
Investor Relations ◽  
Two Stage ◽  
Second Moment ◽  
Bid Ask Spread ◽  
Two Stage Least Squares ◽  
Informative Content

ABSTRACT Companies invest significant volumes of resources in investor relations (IR) departments. The professionals working in the IR department are responsible for communication between the company and the market, so that the information generated is widely disseminated and understood by investors. In this context, this research aims to investigate whether there is evidence that the IR activity decreases information asymmetry between the company and the market. Specifically, we evaluate the hypothesis that Brazilian companies with IR websites classified as more informative have a reduced bid-ask spread (proxy for asymmetry). Therefore, this paper classifies the informative content from IR websites of Brazilian companies for the years 2013 and 2014 and relates the outcomes obtained with information asymmetry metrics. Initially, the estimation considers the pooled ordinary least squares (POLS) model and, at a second moment, in order to mitigate potential endogeneity problems, the pooled two-stage least squares (2SLS) model is used. The results indicate that more informative IR websites are able to decrease the bid-ask spread of Brazilian listed companies. This finding strongly encourages companies to provide information to stakeholders on well-structured IR websites of their own.

scholarly journals Stein-like estimators for causal mediation analysis in randomized trials

2019 ◽  
Vol 29 (4) ◽  
pp. 1129-1148 ◽  
Author(s):  
Cedric E Ginestet ◽  
Richard Emsley ◽  
Sabine Landau
Keyword(s):  
Least Squares ◽  
Mediation Analysis ◽  
Indirect Effects ◽  
Ordinary Least Squares ◽  
Least Squares Estimator ◽  
Two Stage ◽  
Causal Mediation ◽  
Causal Mediation Analysis ◽  
Two Stage Least Squares ◽  
The Impact

Causal mediation analysis aims to estimate natural direct and natural indirect effects under clearly specified assumptions. Traditional mediation analysis based on Ordinary Least Squares assumes an absence of unmeasured causes to the putative mediator and outcome. When these assumptions cannot be justified, instrumental variable estimators can be used in order to produce an asymptotically unbiased estimator of the mediator-outcome link, commonly referred to as a Two-Stage Least Squares estimator. Such bias removal, however, comes at the cost of variance inflation. A Semi-Parametric Stein-Like estimator has been proposed in the literature that strikes a natural trade-off between the unbiasedness of the Two-Stage Least Squares procedure and the relatively small variance of the Ordinary Least Squares estimator. The Semi-Parametric Stein-Like estimator has the advantage of allowing for a direct estimation of its shrinkage parameter. In this paper, we demonstrate how this Stein-like estimator can be implemented in the context of the estimation of natural direct and natural indirect effects of treatments in randomized controlled trials. The performance of the competing methods is studied in a simulation study, in which both the strength of hidden confounding and the strength of the instruments are independently varied. These considerations are motivated by a trial in mental health, evaluating the impact of a primary care-based intervention to reduce depression in the elderly.

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