I am trying to estimate the effect of having a female director on board on earnings management. I have a continuous variable for earnings management as the dependent variable. I want to first predict the probability of having a female board member versus having an all-male board. I am doing this to mitigate the sample selection bias. Can I use Heckman's two step procedure for this?
I tried using the Heckman procedure as:
Code:
heckman em fem_dummy $Controls, select (fem_dummy = $Predictors) twostep
I want to know how a female on board can influence em but the automatic Heckman procedure won't tell me that. How can calculate the Heckman model without dropping the fem_dummy in the second step.
Thanks.
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