Show simple item record

hal.structure.identifierDauphine Recherches en Management [DRM]
dc.contributor.authorChemla, Gilles
hal.structure.identifierLondon Business School
dc.contributor.authorHennessy, Christopher A.
dc.date.accessioned2021-10-18T14:51:20Z
dc.date.available2021-10-18T14:51:20Z
dc.date.issued2021
dc.identifier.issn0304-405X
dc.identifier.urihttps://basepub.dauphine.psl.eu/handle/123456789/22046
dc.language.isoenen
dc.subjectsignalen
dc.subjectselectionen
dc.subjectinstrumental variablesen
dc.subjectfuzzy regression discontinuity designen
dc.subjectexperimentsen
dc.subjectcorporate financeen
dc.subjectgovernment policyen
dc.subject.ddc658.4en
dc.subject.classificationjelD.D8.D82en
dc.subject.classificationjelG.G1.G14en
dc.subject.classificationjelG.G1.G18en
dc.subject.classificationjelG.G3.G30en
dc.subject.classificationjelJ.J2.J24en
dc.titleSignaling, Instrumentation, and CFO Decision-Makingen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenBuilding parable economies embedding econometricians, we view alternative estimators (IV, fuzzy RD, natural experiments, OLS, event studies) from the perspective of privately-informed decision-makers, e.g. CFOs. IV estimates can be misleading since randomization through observable instruments eliminates signal content arising from discretion. If the goal is informing discretionary decisions, rather than predicting outcomes after forced/mistaken actions, instrumentation is problematic, whereas OLS or event studies can be sufficient. The analysis shows the utility of alternative estimators hinges upon oft-neglected assumptions about agent/econometrician information sets, as distinct from exclusion restrictions. We recommend parable economy estimation as precursor to real-world IV estimation.en
dc.relation.isversionofjnlnameJournal of Financial Economics
dc.relation.isversionofjnldate2021
dc.relation.isversionofdoi10.1016/j.jfineco.2021.07.014en
dc.relation.isversionofjnlpublisherElsevieren
dc.subject.ddclabelPrise de décision, gestion de criseen
dc.relation.forthcomingnonen
dc.description.ssrncandidatenon
dc.description.halcandidateouien
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.relation.Isversionofjnlpeerreviewedouien
dc.date.updated2021-10-18T14:47:25Z
hal.identifierhal-03383760
hal.version1
dc.subject.classificationjelHALD - Microeconomics::D8 - Information, Knowledge, and Uncertainty::D82 - Asymmetric and Private Information; Mechanism Designen
dc.subject.classificationjelHALG - Financial Economics::G1 - General Financial Markets::G14 - Information and Market Efficiency; Event Studies; Insider Tradingen
dc.subject.classificationjelHALG - Financial Economics::G1 - General Financial Markets::G18 - Government Policy and Regulationen
dc.subject.classificationjelHALG - Financial Economics::G3 - Corporate Finance and Governance::G30 - Generalen
dc.subject.classificationjelHALJ - Labor and Demographic Economics::J2 - Demand and Supply of Labor::J24 - Human Capital; Skills; Occupational Choice; Labor Productivityen
hal.date.transferred2021-10-18T14:51:21Z
hal.author.functionaut
hal.author.functionaut


Files in this item

FilesSizeFormatView

There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record