st: Pesaran CD Test - The panel is highly unbalanced

["Lim Boon Leong" <lboonl@streamyx.com>]

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)