I am using binary logistic regression to test this model:
logit(ρ1) = α + β1(INDDIR) + β2(INDCHAIR) + β3(BOARDSIZE) + β4(DIRSHIP) + β5(MEETING) + β6(EXPERT) + β7(INSTI) + β8(DEBT) + β9(LnSIZE) + β10(BIG4)
I have some doubt on the casewise list (outliers). The first time I run the analysis, there were 44 outliers. I deleted all these 44 cases. Then, I re-run the analysis. Again, 11 outliers were appeared. I deleted all these 11 cases then re-run. Again and again, 6 outliers were found!
So, should I delete all outliers or it would be a never ending story?
Please help. Thanks.