The perils of endogeneity and instrumental variables in strategy research: : Understanding through simulations

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Omitted Variable Bias: Examining Management Research With the Impact Threshold of a Confounding Variable (ITCV) (2021, methodology): “Second, irrelevant or endogenous instruments can introduce more bias in the model than what would have otherwise existed in the absence of instrumental variable techniques (Semadeni et al., 2014; Stock, Wright, & Yogo, 2002).”
Bridging Methodological Divides Between Macro- and Microresearch: Endogeneity and Methods for Panel Data (2020, background): “Under these circumstances, the estimated relationship between the independent variable and dependent variable does not equal the true value (Kennedy, 2008; Semadeni et al., 2014).”
Reconceptualizing entrepreneurial orientation (2015, background): “Given the acknowledged difficulties in finding valid instruments (Semadeni, Withers, and Certo, 2014), it is, we suggest, very difficult to meet such a standard.”
Ready, AIM, Acquire: Impression Offsetting and Acquisitions (2015, methodology): “Following prior research, we code acquirer high reputation using annual lists of Fortune’s Most Admired and theWall Street Journal and Harris Interactive’s corporate reputation rankings (Pfarrer et al., 2010).”