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From | "Lim Boon Leong" <lboonl@streamyx.com> |
To | <statalist@hsphsun2.harvard.edu> |
Subject | st: Pesaran CD Test - The panel is highly unbalanced |
Date | Mon, 2 Jan 2012 08:12:51 +0800 |
Dear Statalists, I have a balanced panel data set of N=191 and T=6 but when I performed the pesaran CD test by using the following command in Stata12, . xtreg lbonus ownexr ownex2r ownex3r ceodual ined remcom1 exblock1 L.lmktbk L.roa L.ret L.debt L.ltotasset i.year i.sector2, re . xtcd, pesaran abs show I got the error message r(2001): The panel is highly unbalance. Not enough common observations across panel to perform Pesaran's test. I am quite puzzled as in the RE model, the followings are reported: Number of obs = 526, number of groups = 121, obs per group: min=1, avg=4.3, max=5 Based on the above, my question is: Are 526 observations still insufficient to carry out the Pesaran CD test? And may I know what ate the minimum observations required for Pesaran test? For the other balanced panel data set with the same N(191) and T (6), when I run the Pesaran Test I obtained the error message as shown below after the following command: .xtreg lsalary ownexr ownex2r ownex3r L.ldiv ceodual ined remcom1 extblock1 L.lmktbk L.roa L.ret L.debt L.ltotasset i.year, fe .xtcsd, pesaran abs unkown function*sqrt () r(133)