被忽略的变数问题？

It  is difficult  to  observe  underlying  market  and  regulatory  effects by  studying  public  firms  in a  single country,  because there is little variation  in their market  and regulatory  environment.  One solution is to study international variation  in market  and regulatory  regimes.3   However, it is well-known that  correlated  omitted variables are a concern in this literature.  Differences between private and public firms, controlling for size and industry  as in Ball and  Shivakumar (2005), are  comparatively  but  not  totally  free of this  concern.4    IPOs provide an alternative research design in which the status of their financial reporting  changes from private to public. The omitted variables problem is somewhat mitigated in this research design because it is the same firm in the same industry  that  undergoes  a transition  in status.5  In our sample of UK  IPOs [described below], we can compare financials originally prepared  by a private firm with financials for the same firm and the same year that  were restated  several  years  later  for  inclusion  in a  public  prospectus,  further  mitigating  the  omitted variables problem. Our first motivation for studying IPO financial reporting  therefore  is to provide a robust test  of the  hypothesis  that,  as their  IPO  approaches  and  they  encounter  different  market  and  regulatory demands, companies increase their financial  reporting  quality.

呵呵，楼主整理的像诗喔。。

不好意思 怎么一发出来 就成乱码

终于发现不成乱码了 ，原来是不能从WORD里直接复制粘贴过来