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Section 6 provides robustness checks, where we alter our sample selection criterion.
The errors ϵ1 and ϵ0, conditional on sample selection criterion will have non-zero expected values (Lee and Trost 1978; Maddala 1983).
Figure 1 displays the sample attrition associated with the application of each sample selection criterion.
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Figure 1 Sample selection criteria and sample development.
Application of the sample selection criteria described in Sect.
We investigate whether our sample selection criteria led to sample selection issues.
Sect. 4 describes our data together with the sample selection criteria applied.
Section 4 describes our data together with the sample selection criteria we applied.
The sample selection criteria are designed to minimise the impact of the initial conditions problem on the econometric analysis.
In contrast, when using percent accruals we find consistent evidence that the accrual anomaly exists regardless of research design specifications or sample selection criteria.
Section 3 discusses some key features of the insolvency framework of Spain, France and the UK Sect. 4 focuses on data sources and sample selection criteria.
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