Institute of Business and Management
National Yang Ming Chiao Tung University
Master Thesis
Review of Difference-in-Differences in Strategic Management
Advisor：Dr. Jin-Su Kang Student：Yi-Chieh Chen
A Thesis
Submitted to Institute of Business and Management
College of Management
National Yang Ming Chiao Tung University
in partial Fulfillment of the Requirements
for the Degree of
Master
in
Business Administration
July 2021
Taiwan, Republic of China
Paper-based full text available from National Central Library at No.20, Zhongshan S. Rd., Zhongzheng District, Taipei City 100201, Taiwan (R.O.C.) after 2024/7/30; Full text download from National Central Library, R.O.C will be open 2025/7/30.
Download the slides of my thesis
Acknowledgement
This thesis would not have been written without my advisor Dr. Jin-Su Kang, who suggests this topic and provides a research assistantship that continuously supports my studies. I am thankful to have the opportunity working with her, as my thesis has contributed to two conference submissions, Academy of Management Annual Meeting 2021 and Strategic Management Society Annual Conference 2021, which are accepted for presentation.
Gratitude to committee members Dr. Chreng G. Ding and Dr. Sungjun Steven Park, from whom I receive comments that enrich the thesis, and research method course instructor Dr. Chieh-Peng Lin, who I have benefitted from his positive mindset of doing research. Faculty members Dr. Jin-Li Hu and Dr. Chih-Liang Liu, who I have several discussions during their courses, also help me in navigating between various applications of econometrics.
Considering the voluminous literature retrieved during the writing process, I’m indebted to the librarians of Taipei campus, Miss Yu-Chuan Chen and Mr. Mark Pan, who always handle my queries timely. Special thanks to the administrative supports by Ms. Ler-Jen Wang and Ms. Jia-Shan Annie Wu, who have provided smooth online services during the pandemic alert.
I dedicate this thesis to my parents.
摘要
差異中之差異法（DiD）為策略管理領域中最常被用於因果推論的統計方法之一，本研究為策略管理領域中，首篇針對應用差異中之差異法之文獻回顧。本研究彙整自2009年至2021年發表於五本頂級國際期刊之98篇實證研究論文，總結常見的研究方法誤用，包含：序列相關、平行趨勢假設、控制組選擇、觀察期間選擇，及模型不正確的設定。本研究進一步整理各篇論文的管理意涵，並按照主題呈現。據此，本研究提供應用差異中之差異法的最佳實務，以期為策略管理學者提供一簡明之參考。
註：差異中之差異法又譯為雙重差分法，本文採用國家教育研究院之翻譯[1]為主。
關鍵詞：差異中之差異、雙重差分、因果推論、準實驗設計、策略管理
Abstract
This study offers the first review dedicated to the applications of difference-in-differences (DiD) in strategic management literature, where DiD is one of the most popular statistical methods for causal inference research. By analyzing 98 empirical papers from five top-tier journals published between 2009 and 2021, we summarize the common application rigors, including serial correlation, parallel trend assumption, control group selection, period selection, and model misspecifications. Furthermore, we also present the managerial implications derived from these studies. Thus, this study underscores some of the best practices and provides a handy reference to the strategy scholars in designing DiD research.
Keywords: difference-in-differences, causal inference, quasi-experiment, strategic management
[1] National Academy for Educational Research. (n.d.). differences-in-differences estimator. In Academic Terminology. Retrieved July 20, 2021, from https://terms.naer.edu.tw/detail/3648018/