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References
For a more detailed elaboration on both tests see Davidson/MacKinnon [1993, Chapter 7.9, pp. 237–240] and Nakamura/Nakamura [1981]. Generally both methods test the ols assumption of a zero correlation between explanatory variables and error terms.
See Browne/Cudeck [1993, p. 144] and Steiger [1990].
See Arbuckle [1999, pp. 409–411] and Hair et al. [1998, pp. 650–657].
See Himmelberg et al. [1999, p. 364].
For a non-monotonous relation see for example Brailsford et al. [2002], Chen et al. [1993], Chen/Ho [2000], Cho [1998], Cleary [2000], Cui/Mak [2002], Gugler et al. [2003b], Hermalin/Weisbach [1991], Hubbard/Palia [1995], Kole [1996], Mørck et al. [1988], Mudambi/Nicosia [1998], Short/Keasey [1999], Short et al. [2002a, 1994], Stulz [1988], and Welch [2003].
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(2007). Empirical Analyses. In: Equity Ownership and Performance. Contributions to Economics. Physica-Verlag HD. https://doi.org/10.1007/978-3-7908-1934-2_5
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DOI: https://doi.org/10.1007/978-3-7908-1934-2_5
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