Percentage Coefficient (bp) -- Effect Size Analysis (Theory Paper 1)

Xinshu Zhao, Dianshi Moses Li, Ze Zack Lai, Piper Liping Liu, Song Harris Ao and Fei You
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Xinshu Zhao: Department of Communication, Faculty of Social Science, University of Macau
Dianshi Moses Li: Centre for Empirical Legal Studies, Faculty of Law, University of Macau
Ze Zack Lai: Department of Communication, Faculty of Social Science, University of Macau
Piper Liping Liu: School of Media and Communication, Shenzhen University
Song Harris Ao: Department of Communication, Faculty of Social Science, University of Macau
Fei You: Department of Communication, Faculty of Social Science, University of Macau

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Abstract: Percentage coefficient (bp) has emerged in recent publications as an additional and alternative estimator of effect size for regression analysis. This paper retraces the theory behind the estimator. It's posited that an estimator must first serve the fundamental function of enabling researchers and readers to comprehend an estimand, the target of estimation. It may then serve the instrumental function of enabling researchers and readers to compare two or more estimands. Defined as the regression coefficient when dependent variable (DV) and independent variable (IV) are both on conceptual 0-1 percentage scales, percentage coefficients (bp) feature 1) clearly comprehendible interpretation and 2) equitable scales for comparison. The coefficient (bp) serves the two functions effectively and efficiently. It thus serves needs unserved by other indicators, such as raw coefficient (bw) and standardized beta. Another premise of the functionalist theory is that "effect" is not a monolithic concept. Rather, it is a collection of concepts, each of which measures a component of the conglomerate called "effect", thereby serving a subfunction. Regression coefficient (b), for example, indicates the unit change in DV associated with a one-unit increase in IV, thereby measuring one aspect called unit effect, aka efficiency. Percentage coefficient (bp) indicates the percentage change in DV associated with a whole scale increase in IV. It is not meant to be an all-encompassing indicator of an all-encompassing concept, but rather a comprehendible and comparable indicator of efficiency, a key aspect of effect.

Date: 2024-04, Revised 2024-05
New Economics Papers: this item is included in nep-ecm
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