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This has considerable implications for studying stock liquidity, since selecting an appropriate proxy for liquidity is an important issue in empirical research design.
The study suggests that an appropriate proxy for these variables be identified and measured to further develop on this research.
This type of price informativeness measurement might not be an appropriate proxy for this study as Chinese market could be noisier than the typical established markets.
The energy intensity by gross domestic product (GDP) is a specific and appropriate proxy for the conversion coefficient from money into joules (Hu et al. 2013).
Also, one could question to what extent political attention (attention with the prospect of, for instance, higher taxes or increased regulation) is a sufficiently appropriate proxy for CSR.
The main difficulty lies in finding an appropriate proxy for the company-specific marginal tax rate, as its "true" value is not observable.
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UB1 and UB2 are not the appropriate proxies for urban boundaries in the analysis of urban CO2 emissions, although UB1 is a widely adopted boundary.
In addition, skew surge time-series are more appropriate proxies for the inter-annual, multi-decadal and longer-term changes in 'storminess' and the links to regional climate, compared to extreme sea level time-series that are also influenced by astronomical tides.
The above statistics analysis demonstrates that F aro and F naro could be used as appropriate proxies for the kerogen maturity.
Other outcomes, such as reduction in functional decline and quality of life improvement, may be more appropriate proxies for quality improvement in this domain.
However, two main lines of evidence support genome-wide measures of variation as appropriate proxies for evolutionary potential.
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