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From | Rohit Sonika <net@rsonika.me> |
To | Statalist <statalist@hsphsun2.harvard.edu> |
Subject | st: Multinomial regression using panel data with case-specific regressors only |
Date | Sun, 27 Jan 2013 12:57:52 +0000 |
Hi Statalist, I have a cross-sectional, time series dataset which has information on over 500 companies repeated over 10 years from 1991 to 2000. During the time period, firms have a choice of decisions to make: 1. Stay in their state of paying no dividends or buybacks 2. Pay dividend, or 3. Buyback shares Once a decision is made, it tends to follow the trend for the rest of the sample period. For instance, if firm A decides to pay dividend in 1994 then the decision continues to occur through 2000. The equation I am trying to model is the likelihood of decision 2 or 3 occurring with decision 1 as the base, regressed on a set of firm-level characteristic variables. Question 1: I understand the decision a firm has to make is mutinomial, but unordered. However, the regressors I am using are case-specific, and not alternative-specific. I have gone through the statalist archive to understand that models like that of -gllamm- and -mixlogit- require alternative-specific regressors in each decision group, but in my case none exist. Can you suggest how best can I tackle this multinomial issue with a panel data? Question 2: Would it make any sense to subsample the data and do separate -xtlogit- regressions in the two subsamples, comparing 2 with 1, and 3 with 1? I am trying to do this in Stata 12. Thank you for all your help. Best, Rohit * * For searches and help try: * http://www.stata.com/help.cgi?search * http://www.stata.com/support/faqs/resources/statalist-faq/ * http://www.ats.ucla.edu/stat/stata/