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Dynamic Corporate Finance is Useful: A Comment on Welch (2013)

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  • Strebulaev, Ilya A.
  • Whited, Toni M.

Abstract

Welch (2013) critiques recent work in dynamic corporate finance. We offer the contrasting view that there is no logical reason to dismiss entire research methodologies, and that many methods can be useful. We explain why dynamic models and structural estimation are useful research tools, as well as why the criticisms of this research paradigm in Welch (2013) are incorrect.

Suggested Citation

  • Strebulaev, Ilya A. & Whited, Toni M., 2013. "Dynamic Corporate Finance is Useful: A Comment on Welch (2013)," Critical Finance Review, now publishers, vol. 2(1), pages 173-191, July.
    • Handle: RePEc:now:jnlcfr:104.000000011
    DOI: 10.1561/104.000000011
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    Cited by:

    1. Toni M Whited, 2023. "Integrating Structural and Reduced-Form Methods in Empirical Finance," Journal of Financial Econometrics, Oxford University Press, vol. 21(3), pages 597-615.
    2. Zhou, Qing & Faff, Robert & Alpert, Karen, 2014. "Bias correction in the estimation of dynamic panel models in corporate finance," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 494-513.
    3. Bilgin, Rumeysa, 2023. "The Selection Of Control Variables In Capital Structure Research With Machine Learning," SocArXiv e26qf, Center for Open Science.
    4. Lotfaliei, Babak, 2018. "The variance risk premium and capital structure," ESRB Working Paper Series 70, European Systemic Risk Board.

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