Dear all,
I have two datasets with yearly firm data. Sample 1 is the dataset
containing the event firms (Initial public offerings (IPO) and
seasoned public offerings (SEO)) and sample 2 contains the non-event
firms (i.e. all firms which did not have an IPO or SEO in the last
five years).
The datasets are structured as follows:
Dataset 1: Event firms
ID Year BookValue E_Ret
E1 1995 670 12
E2 1995 380 -8
E3 1995 1120 -4
E1 1996 682 9
E3 1996 1120 -2
Dataset 2: Non-event firms
M_ID M_Year M_BookValue M_Ret
M1 1995 350 13
M2 1995 430 12
M3 1995 690 8
M4 1995 890 -2
M5 1995 1200 11
M1 1996 350 8
M2 1996 430 6
M3 1996 690 -5
M4 1996 890 4
M5 1996 1200 10
What I now would like to do is to match the Non-event firms with the
event firms. In doing so, I would like to match the firms by aid of
variable "BookValue". Specifically, I would like to obtain for each
event firm the non-event firm whose BookValue is closest to but bigger
than that of the event firm. As a result, I should obtain the
following dataset:
Dataset Final: Matched firms
ID Year BookValue ERet M_ID M_BookValue MRet
E1 1995 670 12 M3 690 8
E2 1995 380 -8 M2 430 12
E3 1995 1120 -4 M5 1200 11
E1 1996 682 9 M3 690 -5
E3 1996 1120 -2 M5 1200 10
Unfortunately, however, I have no idea how to accomplish this. Any
help is much appreciated.
Best,
Ingo
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