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Hello to all Gretl users, i need help regarding to panel regression that i m running on the data of 49 companies over 5 years.. disclosure score have been assigned to each company is my dependent variable and i m seeing relation of this with diffrent variable like assets, debt to eqity ratio, working capital etc....
I have run a random effect model without dummies... following is the result of regression..
: Random-effects (GLS), using 245 observations
Included 49 cross-sectional units
Time-series length = 5
Dependent variable: Disclosurescore
|
|
Coefficient |
Std. Error |
t-ratio |
p-value |
|
|
const |
54.6399 |
2.44263 |
22.3693 |
<0.00001 |
*** |
|
Income |
0.000300548 |
0.000284884 |
1.0550 |
0.29251 |
|
|
Assets |
2.47402e-05 |
0.000143089 |
0.1729 |
0.86288 |
|
|
ROCE |
0.339813 |
0.136887 |
2.4824 |
0.01374 |
** |
|
RONW |
-0.305412 |
0.101727 |
-3.0023 |
0.00297 |
*** |
|
Debttoequityrat |
-2.91992e-05 |
0.000943001 |
-0.0310 |
0.97532 |
|
|
PBITNetofP_E_Av |
-0.275439 |
0.0929244 |
-2.9641 |
0.00335 |
*** |
|
Profitaftertax |
0.000338873 |
0.00199357 |
0.1700 |
0.86517 |
|
|
Mean dependent var
|
53.76539
|
|
S.D. dependent var |
14.85426 |
|
Sum squared resid |
48314.62 |
|
S.E. of regression |
14.24790 |
|
Log-likelihood |
-994.9583 |
|
Akaike criterion |
2005.917 |
|
Schwarz criterion |
2033.927 |
|
Hannan-Quinn |
2017.196 |
'Within' variance = 60.0887
'Between' variance = 146.644
theta used for quasi-demeaning = 0.713727
Breusch-Pagan test -
Null hypothesis: Variance of the unit-specific error = 0
Asymptotic test statistic: Chi-square(1) = 193.78
with p-value = 4.75747e-044
Hausman test -
Null hypothesis: GLS estimates are consistent
Asymptotic test statistic: Chi-square(7) = 11.5898
with p-value = 0.114882
now i dont knw that whether i have to use interpret these beta coefficients as any other variable or else & whether to use dummy variable or not...
I m also attaching with ths mail my data file in gretl..
Plz anyone help ..
Thanks in advance |