In a longitudinal study with response data collected during a hospital stay, observations may be missing because of the subject's discharge from the hospital prior to completion of the study or the death of the subject, resulting in non-ignorable missing data. In addition to non-ignorable missingness, there is left-censoring in the response measurements because of the inherent limit of detectio...

Tax policy encourages charitable contributions during an individual’s life through both the personal income tax and the estate tax. The effect of the income tax on contributions is well known. Because annual charitable contributions reduce the size of an estate, and hence the likely estate tax burden, the estate tax should also affect contributions. Recently, Auten and Joulfaian (1996) studied ...

Fatality Rates for Crashes Involving Heavy Vehicles on Highways: A Random Parameter Tobit Regression Approach Mouyid Islam PhD & Salvador Hernandez PhD a Highway Safety Engineer, CH2M HILL, Inc, 8735 West Higgins Road, Chicago, IL 60631 b Assistant Professor, School of Civil and Construction Engineering, Oregon State University220 Owen Hall, Corvallis, OR 97331, Email: . Accepted author version...

Realized volatility of stock returns is often decomposed into two distinct components that are attributed to continuous price variation and jumps. This paper proposes a tobit multivariate factor model for the jumps coupled with a standard multivariate factor model for the continuous sample path to jointly forecast volatility in three Chinese Mainland stocks. Out of sample forecast analysis show...

In order to explore the impact of financial factors on the real economy, many researchers are analyzing the relationship between finance and real economic activity using new theories and approaches. This paper focuses on the relationship between financial soundness and corporate R&D activities on a regional scale. By measuring regional financial performance using data series including periods o...

Tobit regression is used to analyze market shares for a cross section of 273 insurers operating in 1990. Lines of business analyzed include personal auto liability and physical damage insurance, homeowners multiperil, commercial general liability, workers compensation, and commercial multiperil. After controlling for size and other factors, evidence indicates that direct writing insurers have c...