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From |
"Nick Cox" <n.j.cox@durham.ac.uk> |

To |
<statalist@hsphsun2.harvard.edu> |

Subject |
st: -nlogit- question |

Date |
Fri, 29 Feb 2008 14:18:54 -0000 |

This is forwarded on behalf of Jared Gross. ---------------------------------------------------- Please forgive my basic question; relative to most users on this list, I'm not very familiar with Stata. I'm trying to use the nlogit command in Stata 10 to estimate a degenerate model of mergers and acquisitions. Unfortunately, I keep getting the error "no cases remain after removing invalid observations." Because I'm pretty sure I'm mis-specifying my model, and possibly don't have the cases right, I'm hoping someone here can help. My data looks like the following: Ticker Year Covariates GoesPrivate PublicTakeover Event ContinuesIndep A 1999 x 0 0 0 1 A 2000 x 0 1 1 0 B 1998 y 0 0 0 1 B 1999 z 0 0 0 1 B 2000 z 1 0 2 0 And the model I want to estimate is: Company either (1) has ContinuesIndependently == 1 OR (2) is subject to Event == 1 | Event == 2 If Event == 1 | Event == 2, then either (A) GoesPrivate == 1 OR (B) PublicTakeover == 1, so that I have a nested model in which the first logit determines whether a company continues in my data to the next year or exits through "Takeover" (i.e. Event == 1 | Event == 2); and then a second, degenerate stage in which the company, if Takeover == 1, either GoesPrivate == 1 or PublicTakeover == 1. How do I estimate this? I tried to use the following commands: egen id = group(ticker) nloitgen takeoverType = Event(Cont: 0, takeover: 1|2) nlogit GoesPrivate covariates || takeoverType: other_covariates, base(cont) ||, case(id) I think my problem may be coming stemming from my use of ticker as the case(id). * * For searches and help try: * http://www.stata.com/support/faqs/res/findit.html * http://www.stata.com/support/statalist/faq * http://www.ats.ucla.edu/stat/stata/

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