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st: Creating a Peer-Variable excluding the focal entity
From
Houdou Basse Mama <[email protected]>
To
[email protected]
Subject
st: Creating a Peer-Variable excluding the focal entity
Date
Tue, 25 Mar 2014 11:33:10 +0100 (CET)
Dear Statalist,
Could you please provide assistance. I attempt (with no success) to create a peer group variable each period excluding a focal firm j. Suppose I want to regress a firm's outcome (y_jit) on a vector X that contains two variables. The outcome y_jit should be regressed on X_jit and X_-jit, where the former varibale denotes the a firm-specific determinant of Y_jit and a peer group counterpart, respectively. I need to construct the peer group variable (X_-jit) that excludes the firm itself.
Assume a variable "visibility" that is firm-specific. I want to compute a peer-counterpart for this firm-specific variable using industry affiliation as peer group. Call this new variable "peer_visibility". The computed variable should be industry-year computed.
I have read the points made in the thread in statalist since October through December 2013 but still cannot solve the problem. Many thanks in advance for your help.
Best and many thanks for your time
Houdou
ESCP Europe Berlin Campus
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