Out of Control: The (Over) Use of Controls in Accounting Research
成果类型：
Article
署名作者：
Whited, Robert L.; Swanquist, Quinn T.; Shipman, Jonathan E.; Moon, James R., Jr.
署名单位：
North Carolina State University; University of Alabama System; University of Alabama Tuscaloosa; University of Arkansas System; University of Arkansas Fayetteville; University System of Georgia; Georgia Institute of Technology
刊物名称：
ACCOUNTING REVIEW
ISSN/ISSBN：
0001-4826
DOI：
10.2308/TAR-2019-0637
发表日期：
2022
页码：
395-413
关键词：
摘要：
In the absence of random treatment assignment, the selection of appropriate control variables is essential to designing well-specified empirical tests of causal effects. However, the importance of control variables seems under-appreciated in accounting research relative to other methodological issues. Despite the frequent reliance on control variables, the accounting literature has limited guidance on how to select them. We evaluate the evolution in the use of control variables in accounting research and discuss some of the issues that researchers should consider when choosing control variables. Using simulations, we illustrate that more control is not always better and that some control variables can introduce bias into an otherwise well-specified model. We also demonstrate other issues with control variables, including the effects of measurement error and complications associated with fixed effects. Finally, we provide practical suggestions for future accounting research. Data Availability: All data used are publicly available from sources cited in the text.
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