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Re: st: xttobit & stata 12: Initial values not feasible


From   Surender Komera <surenderraogp@gmail.com>
To   statalist@hsphsun2.harvard.edu
Subject   Re: st: xttobit & stata 12: Initial values not feasible
Date   Tue, 3 Jul 2012 18:33:48 +0530

Hi Marteen,

There are not many censored observations. Of my complete sample
(28850) observations 2 are lower censored and 50 are upper censored.
For your information dependent variable is fractional variable bounded
by (0,1). As you might have understand for each quartile for the
sample data there not more than 20 censored observations. Right side
variable censoring don't come into my analysis. For your reference my
equation is:

xttobit mlev l.mlev wprofit wmb wndts wtang wsize mlev_initial
exprofit exmb exndts extang exsize d2-d20 if size_quartile==1, ll(0)
ul(1)

I am trying to estimate Speed of adjustment towards target capital
structure. I also tried above equation without controlling time
(d2-d20). But the problem is same.

Hope this information helps in addressing my solution. Please let me
know if you need any clarification. I appreciate your time.
Thanks - Surender



On Tue, Jul 3, 2012 at 5:54 PM, Maarten Buis <maartenlbuis@gmail.com> wrote:
> On Tue, Jul 3, 2012 at 12:55 PM, Surender Komera wrote:
>> I'm trying to run 'xttobit' as part of my analysis (STATA12). I did it
>> successfully with my complete dataset. Now i am divided the sample
>> into quartiles based on firm size (one variable in my dataset).
>> Unfortunately, it is throwing out "Initial values not feasible" as
>> error message (r1400).
>
> Are there a large proportion of censored observations in that quartile?
>
> Did you center all your explanatory/righ-hand-side/x-variables at some
> reasonable value within the range of your data?
>
> -- Maarten
>
> --------------------------
> Maarten L. Buis
> Institut fuer Soziologie
> Universitaet Tuebingen
> Wilhelmstrasse 36
> 72074 Tuebingen
> Germany
>
>
> http://www.maartenbuis.nl
> --------------------------
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