Winsorized Regression

Yale, Coralee; Forsythe, Alan B.

doi:10.1080/00401706.1976.10489449

Cited by 37 publications

(17 citation statements)

References 8 publications

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“…We also take into account the industry fixed effect on the two-digit SIC code and the year fixed effect. We winsorize all variables to handle outliers at the 1% level in each tail of the distribution [29].…”

Section: Methodsmentioning

confidence: 99%

Firm’s Environmental Expenditure, R&D Intensity, and Profitability

Kim

2018

Sustainability

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In order to live up to its environmental responsibility, a firm makes an environmental expenditure to reduce its pollution emissions. Then, an important question is what impact the environmental expenditure has on the firm's profitability. In this paper, we first propose and test a hypothesis that the more environmental expenditure the firm makes, the less profitability it enjoys, i.e., there is a negative relationship between the firm's environmental expenditure and its profitability, more specifically its return on assets (ROA). We go further to suggest and test the second hypothesis that the more R&D-intensive the firm is, the lower the "negative impact" of the environmental expenditure on the firm's profitability is, i.e., the firm's R&D intensity moderates the negative relationship between firm's environmental expenditure and its profitability. A significant implication is that since it has to spend money on reducing its pollution emission, the firm should also enhance its innovation capability. That is, by investing in its R&D, the firm can mitigate the negative impact of environmental expenditure on its profitability. In order to test the hypotheses, we collect financial data and carry out panel regression analyses. The analysis results support our hypotheses that there is a negative relationship between the firm's environmental expenditure and its profitability and that the negative relationship is moderated by the firm's R&D capability represented by its R&D intensity.

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Section: Methodsmentioning

confidence: 99%

Firm’s Environmental Expenditure, R&D Intensity, and Profitability

Kim

2018

Sustainability

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“…These data were used for all subsequent analyses. This decision had no impact on the interpretation of results, but is preferable to trimming extreme values 73 ; an alternate method, imputing extreme values with the mean observation for each feature, yielded comparable results.…”

Section: Analysis Of Acoustic Featuresmentioning

confidence: 99%

Acoustic regularities in infant-directed speech and song across cultures

Hilton

Moser

Bertolo

et al. 2020

Preprint

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Humans often produce vocalizations for infants that differ from vocalizations for adults. Is this property common across societies? The forms of infant-directed vocalizations may be shaped by their function in parent-infant communication. If so, infant-directed song and speech should be differentiable from adult-directed song and speech on the basis of their acoustic features, and this property should be relatively invariant across cultures. To test this hypothesis, we built a corpus of 1,614 recordings of infant-and adult-directed singing and speech produced by 411 people living in 21 urban, rural, and small-scale societies. We studied the corpus in a massive online experiment and in a series of acoustic analyses. Naïve listeners (N = 13,218) reliably identified infant-directed vocalizations as infant-directed, and adult-directed speech (but not songs) as adult-directed, at rates far higher than chance. Ratings of infant-directed song were the most accurate and the most consistent across all societies; infant-directed speech was accurately identified on average, but inconsistently across societies. To determine the mechanisms underlying these results, we extracted many acoustic features from each recording and identified those that most reliably characterize infant-directed song and speech across cultures, via preregistered exploratory-confirmatory analyses and machine classification. The features distinguishing infant-and adult-directed song and speech concerned pitch, rhythmic, phonetic, and timbral attributes; a hypothesis-free classifier with cross-validation across societies reliably identified all vocalization types, with highest accuracy for infant-directed song. Last, we isolated 12 acoustic features that were predictive of perceived infant-directedness; of these, two pitch attributes (median F0 and its variability) were by far the most explanatory. These findings demonstrate cross-cultural regularities in infant-directed vocalizations that are suggestive of universality; moreover, infant-directed song appears to be more cross-culturally stereotyped than infant-directed speech, informing hypotheses of the functions and evolution of both.The forms of many animal signals are shaped by their functions, a link arising from production-and reception-2 related rules that help to maintain reliable signal detection within and across species 1-6 . This is especially 3 true of vocal signals, where form-function links have been demonstrated across many species, including 4 nonhuman primates 3 , meerkats 7 , grackles 8 , frogs 9 , and fish 10 . 5The link between form and function in vocalizations is also evident from listeners' behavior. For example, 6 humans 11 , red deer 12 , and canines 13 reliably detect the intentions of heterospecific signalers on the basis of 7 the sounds of their signals. A classic demonstration of this fact is the ability of some species to eavesdrop 8 on the alarm signals of other species, whether or not their own species has an extended vocal repertoire 14,15 . 9 In humans, an area of...

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“…The resulting data still exhibited problematic skewness necessitating further adjustment. Accordingly, the data was Winsorized (Yale and Forsythe 1976) which reduced the skewness and kurtosis to acceptable levels. The Winsorized values for skewness were .6057 and .4966 for Firm Value and Sales, respectively.…”

Section: Data and Descriptive Statisticsmentioning

confidence: 99%

Firm Value and Entity Choice in Closely Held Business Organizations: Do Taxes Play a Role?

2021

JABE

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This paper examines the role of tax on firm value of closely held businesses. Using sales transactions of closely held business organizations as a proxy for firm value, the double tax system applicable to C corporations versus the single level of tax on passthrough businesses is expected to result in lower firm value for passthrough entities than comparable C corporations. This theoretical assumption is based on increased pricing flexibility available for firms facing a single level of tax over that of entities subject to double taxation. A dataset of nearly 30,000 closely held business sales was evaluated to find that passthrough entities are associated with lower firm value than comparable C corporations. This finding is important since prior research has produced conflicting results. This study contributes to the literature by examining a more comprehensive dataset, including all forms of passthrough entities, and improving the methodology used in earlier studies.

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Winsorized Regression

Cited by 37 publications

References 8 publications

Firm’s Environmental Expenditure, R&D Intensity, and Profitability

Firm’s Environmental Expenditure, R&D Intensity, and Profitability

Acoustic regularities in infant-directed speech and song across cultures

Firm Value and Entity Choice in Closely Held Business Organizations: Do Taxes Play a Role?

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