• Agency Conflicts and Investment: Evidence from a Structural Estimation 

      Elkahmi, Redouane; Kim, Daniel; Jo, Chanik; Salerno, Marco (Peer reviewed; Journal article, 2022)
      We develop a dynamic capital structure model to study how agency conflicts between managers and shareholders affect the joint determination of financing and investment decisions. We show that there are two agency conflicts ...
    • Measurement error in multiple equations: Tobin’s q and corporate investment, saving, and debt 

      Chalak, Karim; Kim, Daniel (Journal article; Peer reviewed, 2019)
      We characterize the sharp identification regions for the coefficients in a system of linear equations that share an explanatory variable measured with classical error. We demonstrate the identification gain from analyzing ...
    • Measurement Error Without the Proxy Exclusion Restriction 

      Chalak, Karim; Kim, Daniel (Journal article; Peer reviewed, 2019)
      This article studies the identification of the coefficients in a linear equation when data on the outcome, covariates, and an error-laden proxy for a latent variable are available. We maintain that the measurement error ...