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This study considers the effect of cumulative class attendance while estimating the relationship between class attendance and students' exam performance, using an individual-level data. We find that, cumulative attendance has produced a positive and significant impact on students' exam performance. Attending lectures corresponds to a 4% improvement in exam performance, and the marginal impact of cumulative attendance on exam performance is also close to 4%. It is of note that the impact of attendance on exam performance is reduced about 0.4% after one controls for the cumulative attendance effect.
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Lin et al. (2006) studied this question.
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