In this regression, instead of directly using the dummy variable
(green), we use the instrumental variable (green), which is the probability of choosing a green car that is estimated at the first stage to avoid the problem of the dummy variable
being correlated with the residual term:
To develop the present research, we used a more comprehensive sample, with all categories of multimarket funds, and also other measures to estimate the premium lock-up: a dummy variable
and the natural logarithm of the lockup period.
Using a sample of 55,193 director-firm-year observations, we estimate logit regressions in which the dependent variable is a dummy variable
that equals one if a director attended fewer than 75% of a firm's board meetings during the past fiscal year and zero otherwise.
For estimating the effects of components [S.sub.i,t] and [U.sub.j,t], we consider time-variant dummy variables
(i.e., a separate dummy variable
for each year) for reporters and partners.
The SC model specification additionally contains a dummy variable
for whether the fishing trip is taken with a private boat (PRIV) and the trip length (DAY).
In the regression analysis, the dependent variable is the CARs, and the independent variables are relative size, payment method, geographic dummy variable
and dummy variable
for each year.
MG = dummy variable
: 1 for migrants, and 0 otherwise.
We transform the continuous numeric restatement variable into two constructed variables; the occurrence of a restatement (dummy variable
), and the magnitude of a restatement (absolute value of restatement variable).
The dependent variable TL refers to tough love behavior and it is specified as a dummy variable
which is explained in the next section.
D4 = Dummy variable
for Infrastructure (proper cut flower markets, electricity and flower display centers etc.).
where the dependent variable PRICE represents the deflated sale price of a unit; [alpha] is a constant; FLOOR represents floor level; GFA represents the gross floor area of a unit; AGE represents the actual age of the building; D1, D2, and D3 represent east-, south-, and west-facing aspects, respectively; TIME is a dummy variable
delineating whether a transaction took place before or after the date of government resumption notice; ASSEMBLY is a dummy variable
showing whether a flat is affected by land assembly efforts of the developers or their agents, as motivated under the Compulsory Sale for Redevelopment Ordinance; (40) DIVIDED is a dummy variable
indicating whether a flat is divided into more than one subunit; e is the error term.