October 2021
Intermediate to advanced
296 pages
10h 42m
English
Content preview from Panel Methods for Finance
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6 Models with limited dependent variables
In practical applications it occurs quite frequently that the phenomena of interest are of a discrete or mixed discrete-continuous nature. For example, one could be interested in the question whether or not a firm pays dividends, whether or not a firm hedges its currency risks, or what the share of risky assets is in a household’s portfolio. If these type of variables are modelled, a linear regression model is generally inappropriate (although it may provide reasonable approximations in some cases). In this chapter we consider alternative models that are developed to explain discrete or discrete/continuous variables. This includes, among others, logit and probit models, tobit models and models with ...
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