{"id":"https://openalex.org/W2024917246","doi":"https://doi.org/10.1198/073500107000000098","title":"Estimation of Fractional Dependent Variables in Dynamic Panel Data Models With an Application to Firm Dividend Policy","display_name":"Estimation of Fractional Dependent Variables in Dynamic Panel Data Models With an Application to Firm Dividend Policy","publication_year":2007,"publication_date":"2007-09-27","ids":{"openalex":"https://openalex.org/W2024917246","doi":"https://doi.org/10.1198/073500107000000098","mag":"2024917246"},"language":"en","primary_location":{"id":"doi:10.1198/073500107000000098","doi":"https://doi.org/10.1198/073500107000000098","is_oa":false,"landing_page_url":"https://doi.org/10.1198/073500107000000098","pdf_url":null,"source":{"id":"https://openalex.org/S18095783","display_name":"Journal of Business and Economic Statistics","issn_l":"0735-0015","issn":["0735-0015","1537-2707"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","dongbi-a","fnege-1","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Business & Economic Statistics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1030061_code535620.pdf?abstractid=1019347&mirid=2","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5024604202","display_name":"Margaret Loudermilk","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I39422238","display_name":"University of Illinois Chicago","ror":"https://ror.org/02mpq6x41","country_code":"US","type":"education","lineage":["https://openalex.org/I39422238"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Margaret S Loudermilk","raw_affiliation_strings":["University of Illinois, Institute for Health Research and Policy, Chicago, IL 60608","University of Illinois at Chicago"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Illinois, Institute for Health Research and Policy, Chicago, IL 60608","institution_ids":["https://openalex.org/I39422238"]},{"raw_affiliation_string":"University of Illinois at Chicago","institution_ids":["https://openalex.org/I39422238"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5024604202"],"corresponding_institution_ids":["https://openalex.org/I39422238"],"apc_list":null,"apc_paid":null,"fwci":6.856,"has_fulltext":false,"cited_by_count":81,"citation_normalized_percentile":{"value":0.96067981,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":94,"max":99},"biblio":{"volume":"25","issue":"4","first_page":"462","last_page":"472"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11911","display_name":"Spatial and Panel Data Analysis","score":0.9115999937057495,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11911","display_name":"Spatial and Panel Data Analysis","score":0.9115999937057495,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10243","display_name":"Statistical Methods and Bayesian Inference","score":0.06960000097751617,"subfield":{"id":"https://openalex.org/subfields/2613","display_name":"Statistics and Probability"},"field":{"id":"https://openalex.org/fields/26","display_name":"Mathematics"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.0031999999191612005,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/fractional-response-models","display_name":"fractional response models","score":0.9419999718666077},{"id":"https://openalex.org/keywords/dynamic-panel-data-models","display_name":"dynamic panel data","score":0.8799999952316284},{"id":"https://openalex.org/keywords/state-dependence","display_name":"state dependence","score":0.9649999737739563},{"id":"https://openalex.org/keywords/corner-solutions","display_name":"corner solutions","score":0.6710000038146973},{"id":"https://openalex.org/keywords/unobserved-heterogeneity","display_name":"unobserved heterogeneity","score":0.9539999961853027}],"concepts":[{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.7218902707099915},{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.6650515794754028},{"id":"https://openalex.org/C96250715","wikidata":"https://www.wikidata.org/wiki/Q965330","display_name":"Estimation","level":2,"score":0.6203446984291077},{"id":"https://openalex.org/C129537906","wikidata":"https://www.wikidata.org/wiki/Q7603913","display_name":"State variable","level":2,"score":0.5559939742088318},{"id":"https://openalex.org/C182365436","wikidata":"https://www.wikidata.org/wiki/Q50701","display_name":"Variable (mathematics)","level":2,"score":0.4938521981239319},{"id":"https://openalex.org/C116168712","wikidata":"https://www.wikidata.org/wiki/Q181201","display_name":"Dividend","level":2,"score":0.48778682947158813},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.4545312821865082},{"id":"https://openalex.org/C27574286","wikidata":"https://www.wikidata.org/wiki/Q320723","display_name":"Variables","level":2,"score":0.440137654542923},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4026340842247009},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.34612980484962463},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.2504305839538574},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.10442236065864563},{"id":"https://openalex.org/C97355855","wikidata":"https://www.wikidata.org/wiki/Q11473","display_name":"Thermodynamics","level":1,"score":0.0},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.0},{"id":"https://openalex.org/C134306372","wikidata":"https://www.wikidata.org/wiki/Q7754","display_name":"Mathematical analysis","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1198/073500107000000098","doi":"https://doi.org/10.1198/073500107000000098","is_oa":false,"landing_page_url":"https://doi.org/10.1198/073500107000000098","pdf_url":null,"source":{"id":"https://openalex.org/S18095783","display_name":"Journal of Business and Economic Statistics","issn_l":"0735-0015","issn":["0735-0015","1537-2707"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","dongbi-a","fnege-1","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Business & Economic Statistics","raw_type":"journal-article"},{"id":"mag:3122357492","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1030061_code535620.pdf?abstractid=1019347&mirid=2","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"pmh:oai:RePEc:bes:jnlbes:v:25:y:2007:p:462-472","doi":null,"is_oa":false,"landing_page_url":"http://www.ingentaconnect.com/content/asa/jbes/2007/00000025/00000004/art00006","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"mag:3122357492","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1030061_code535620.pdf?abstractid=1019347&mirid=2","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/16","score":0.6899999976158142,"display_name":"Peace, justice, and strong institutions"}],"study_designs":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320308335","display_name":"American Association of University Women","ror":"https://ror.org/05hrczs03"},{"id":"https://openalex.org/F4320309768","display_name":"Educational Foundation of America","ror":"https://ror.org/03eqf0810"}],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":28,"referenced_works":["https://openalex.org/W566586761","https://openalex.org/W1495656322","https://openalex.org/W1529708291","https://openalex.org/W1964450723","https://openalex.org/W1967706087","https://openalex.org/W1977675844","https://openalex.org/W2014594458","https://openalex.org/W2016196342","https://openalex.org/W2017778671","https://openalex.org/W2029707941","https://openalex.org/W2031309978","https://openalex.org/W2033837829","https://openalex.org/W2049681773","https://openalex.org/W2051122175","https://openalex.org/W2097779322","https://openalex.org/W2097978133","https://openalex.org/W2098910318","https://openalex.org/W2117594039","https://openalex.org/W2124758339","https://openalex.org/W2134819260","https://openalex.org/W2163569027","https://openalex.org/W2171177579","https://openalex.org/W2223768511","https://openalex.org/W3021304644","https://openalex.org/W3122215577","https://openalex.org/W3122896559","https://openalex.org/W3123369951","https://openalex.org/W3124968993"],"related_works":["https://openalex.org/W4245366124","https://openalex.org/W2055625425","https://openalex.org/W2098138817","https://openalex.org/W4380088355","https://openalex.org/W2952394783","https://openalex.org/W3125518959","https://openalex.org/W1977759760","https://openalex.org/W2098914397","https://openalex.org/W2887662525","https://openalex.org/W2015265484"],"abstract_inverted_index":{"Fractional":[0],"dependent":[1,18,93],"variables":[2,19],"and":[3,64],"models":[4,15],"with":[5,16,32],"state":[6],"dependence":[7],"arise":[8],"in":[9],"many":[10],"economic":[11],"applications;":[12],"however,":[13],"estimating":[14,38,55],"fractional":[17,56],"is":[20,60],"complicated":[21],"by":[22],"the":[23,69,72,87,92],"presence":[24],"of":[25,40,68,74,91],"two":[26],"corner":[27],"solution":[28],"outcomes.":[29],"When":[30],"coupled":[31],"a":[33,52],"dynamic":[34],"panel":[35],"data":[36],"setting,":[37],"quantities":[39],"interest":[41],"can":[42,95],"be":[43],"quite":[44],"complex":[45],"or":[46,86],"computationally":[47],"difficult.":[48],"This":[49],"article":[50],"demonstrates":[51,80],"method":[53],"for":[54],"response":[57],"variables,":[58],"which":[59],"easy":[61],"to":[62,71],"implement,":[63],"presents":[65],"an":[66],"application":[67],"technique":[70],"determination":[73],"firm":[75],"dividend":[76],"policy.":[77],"The":[78],"estimation":[79],"that":[81],"neglecting":[82],"dynamics,":[83],"unobserved":[84],"heterogeneity,":[85],"doubly":[88],"censored":[89],"nature":[90],"variable":[94],"generate":[96],"misleading":[97],"conclusions.":[98]},"counts_by_year":[{"year":2026,"cited_by_count":4},{"year":2025,"cited_by_count":4},{"year":2024,"cited_by_count":5},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":5},{"year":2020,"cited_by_count":6},{"year":2019,"cited_by_count":5},{"year":2018,"cited_by_count":3},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":6},{"year":2015,"cited_by_count":6},{"year":2014,"cited_by_count":5},{"year":2013,"cited_by_count":3},{"year":2012,"cited_by_count":3}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2025-10-10T00:00:00"}