Re: Help with left join not continuing proc sort by key and deleting d...

mbatch9924 · Posted 02-14-2025 02:01 PM

I attached my code below. I am running into a problem where in my first left join table beneish_m is not continuing to sort the gvkeys in order. Then, when creating the second left join table merge_back, it is not pulling the deleted duplicate beneish indexs but instead pulling all the beneish indexs instead. But before running the 2nd left join the code is properly deleting the duplicated keys. Any advice will help.

Data Work.combined;

Set fsa.compustat_short;
Set fsa.aaer_combined;

Run;

proc sort data=Work.combined; by gvkey datadate; run;
data tot_accr;
set combined;

d_CA=ACT-lag(ACT);
d_CL=LCT-lag(LCT);
d_Cash=CH-lag(CH);
d_STD=DLC-lag(DLC);
lag_AT=lag(AT);
TA=(d_CA - d_CL - d_Cash + d_STD - DP)/lag_AT;

by gvkey DATADATE;

if first.gvkey then delete;
KEEP lag_Rect lag_Revt lag_COGS lag_ACT lag_AT lag_DP lag_PPEGT lag_LCT lag_XSGA lag_DLTT gvkey fyear RECT REVT COGS ACT AT PPEGT LCT XSGA DLTT CIK SIC lag_CH CH lag_TXP TXP DLCCH TA SIC2 lag_dlc dlc d_CA d_CL d_Cash d_STD DP

run;

data mjones;
set tot_accr;

sic2=put(substr(sic,1,2),2.);

if AT ge 0;
if ACT=. then delete;

run;

proc sort data=mjones;
by gvkey datadate;
run;
data lagged_variables;
set mjones;

lag_Rect=lag(RECT);
lag_Revt=lag(REVT);
lag_COGS=lag(COGS);
lag_ACT=lag(ACT);
lag_DP=lag(DP);
lag_PPEGT=lag(PPEGT);
lag_LCT=lag(LCT);
lag_XSGA=lag(XSGA);
lag_DLTT=lag(DLTT);
lag_CH=lag(CH);
lag_TXP=lag(TXP);
lag_dlc=lag(dlc);

by gvkey DATADATE;
if first.gvkey then delete;
KEEP lag_Rect lag_Revt lag_COGS lag_ACT lag_AT lag_DP lag_PPEGT lag_LCT lag_XSGA lag_DLTT gvkey fyear RECT REVT COGS ACT AT PPEGT LCT XSGA DLTT CIK SIC lag_CH CH lag_TXP TXP DLCCH TA SIC2 lag_dlc dlc d_CA d_CL d_Cash d_STD DP;

run;

data blank_variables;
set lagged_variables;
if lag_Rect=. then delete;
if lag_Revt=. then delete;
if lag_COGS=. then delete;
if lag_ACT=. then delete;
if lag_DP=. then delete;
if lag_PPEGT=. then delete;
if lag_LCT=. then delete;
if lag_XSGA=. then delete;
if lag_DLTT=. then delete;
if lag_CH=. then delete;
if lag_TXP=. then delete;
if lag_AT=. then delete;
if lag_DLC=. then delete;

run;

data Beneish_variables;
set blank_variables;

DRSI=(RECT/REVT)/(lag_Rect/lag_Revt);
GMI=((lag_Revt-lag_COGS)/lag_Revt)/((REVT-COGS)/REVT);
AQI=((1-(ACT+PPEGT))/AT)/((1-(lag_ACT+lag_PPEGT))/lag_AT);
SGI=REVT/lag_Revt;
DEPI=(lag_DP/(lag_DP+Lag_PPEGT))/(DP/(DP+PPEGT));
LVGI=((DLTT+LCT)/AT)/((lag_DLTT+lag_LCT)/lag_AT);
SGAI=(XSGA/REVT)/(lag_XSGA/lag_Revt);

run;

data Creating_key;
set Beneish_variables;
key =cats(fyear,SIC2);
if CIK =. then delete;

Run;

proc sql;
create table beneish_m as select
creating_key.*, aaer_combined.*
from work.creating_key as a LEFT JOIN fsa.aaer_combined as b
on a.cik=b.cik
and a.fyear=b.year;

run;
quit;

proc sort data=beneish_m;
by gvkey datadate;
run;

data beneish_index;
set beneish_m;
key_ind=1;
keep key key_ind;

run;

proc sort data=beneish_index nodup; by key; run;

proc sql;
create table merge_back as select
beneish_index.*,beneish_m.*
from work.beneish_index as a LEFT JOIN work.beneish_m as b
on a.key=b.key;

run;
quit;

PaigeMiller · Posted 02-14-2025 03:22 PM

Please look at the log and see if it has any clues about what is wrong.

If you're not sure, show us the log by copying it and pasting it into the window that appears when you click on the </> icon. Please do not skip this step.

--
Paige Miller

mbatch9924 · Posted 02-14-2025 03:58 PM

NOTE: SAS initialization used:
      real time           1.82 seconds
      cpu time            1.35 seconds

1    Data Work.combined;
2    Set fsa.compustat_short;
3    Set fsa.aaer_combined;
4    Run;

NOTE: There were 2105 observations read from the data set FSA.COMPUSTAT_SHORT.
NOTE: There were 2104 observations read from the data set FSA.AAER_COMBINED.
NOTE: The data set WORK.COMBINED has 2104 observations and 804 variables.
NOTE: DATA statement used (Total process time):
      real time           0.13 seconds
      cpu time            0.06 seconds


5    proc sort data=Work.combined; by gvkey datadate; run;

NOTE: There were 2104 observations read from the data set WORK.COMBINED.
NOTE: The data set WORK.COMBINED has 2104 observations and 804 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.04 seconds
      cpu time            0.04 seconds


6    data tot_accr;
7    set combined;
8
9    d_CA=ACT-lag(ACT);
10   d_CL=LCT-lag(LCT);
11   d_Cash=CH-lag(CH);
12   d_STD=DLC-lag(DLC);
13   lag_AT=lag(AT);
14   TA=(d_CA - d_CL - d_Cash + d_STD - DP)/lag_AT;
15
16   run;

NOTE: Division by zero detected at line 14 column 39.
GVKEY=001681 DATADATE=20080331 FYEAR=2007 TIC=ASOE GGROUP=1510 GIND=151040 GSECTOR=15 NAICS=331410 SIC=3330
CONM=APOLLO SOLAR ENERGY INC CUSIP=037637105 CIK=0000819479 EXCHG=19 FYR=3 FIC=USA ACCO=. ACDO=0.0000 ACO=0.0000 ACODO=0.0000
ACOMINC=0.0000 ACOX=0.0000 ACOXAR=. ACT=0.0000 AEDI=. ALDO=0.0000 AO=0.0000 AOCIDERGL=0.0000 AOCIOTHER=0.0000 AOCIPEN=0.0000
AOCISECGL=0.0000 AODO=0.0000 AOX=0.0000 AP=0.0090 APB=. APC=. APOFS=. ARB=. ARC=. ARTFS=. AT=0.0000 BAST=0.0000
BKVLPS=-0.0270 CA=. CAPS=1.2090 CB=. CEQ=-0.0150 CEQL=-0.0150 CEQT=-0.0150 CH=0.0000 CHE=0.0000 CHS=. CLD2=0.0000 CLD3=0.0000
CLD4=0.0000 CLD5=0.0000 CLFC=. CLFX=. CLG=. CLIS=. CLL=. CLLC=. CLO=. CLRLL=. CLT=. CMP=. CRV=. CRVNLI=. CSTK=0.0010
DC=0.0000 DCLO=0.0000 DCOM=0.0000 DCPSTK=0.0000 DCS=0.0000 DCVSR=0.0000 DCVSUB=0.0000 DCVT=0.0000 DD=0.0000 DD1=0.0000
DD2=0.0000 DD3=0.0000 DD4=0.0000 DD5=0.0000 DFPAC=. DFS=0.0000 DLC=0.0000 DLTO=0.0000 DLTP=0.0000 DLTSUB=. DLTT=0.0000
DM=0.0000 DN=0.0000 DPACB=. DPACC=. DPACLI=. DPACLS=. DPACME=. DPACNR=. DPACO=. DPACRE=. DPACT=0.0000 DPDC=. DPLTB=. DPSC=.
DPSTB=. DPTB=. DPTC=. DPTIC=. DPVIEB=0.0000 DPVIO=. DPVIR=. DRC=0.0000 DRCI=. DRLT=0.0000 DS=0.0000 DUDD=0.0000 DVPA=0.0000
DVPIBB=. DXD2=0.0000 DXD3=0.0000 DXD4=0.0000 DXD5=0.0000 EA=. ESOPCT=0.0000 ESOPDLT=0.0000 ESOPNR=0.0000 ESOPR=0.0000
ESOPT=0.0000 EXCADJ=. FATB=0.0000 FATC=0.0000 FATE=0.0000 FATL=0.0000 FATN=0.0000 FATO=0.0000 FATP=0.0000 FDFR=. FEA=. FEL=.
FFS=. GDWL=0.0000 GEQRV=. GOVGR=. IAEQ=. IAEQCI=. IAEQMI=. IAFICI=. IAFXI=. IAFXMI=. IALI=. IALOI=. IALTI=. IAMLI=. IAOI=.
IAPLI=. IAREI=. IASCI=. IASMI=. IASSI=. IASTI=. IATCI=. IATI=. IATMI=. IAUI=. ICAPT=-0.0150 INTAN=0.0000 INTANO=0.0000
INVFG=0.0000 INVO=0.0000 INVOFS=. INVREH=. INVREI=. INVRES=. INVRM=0.0000 INVT=0.0000 INVWIP=0.0000 IP=. IPC=. IPV=. ISEQ=.
ISEQC=. ISEQM=. ISFI=. ISFXC=. ISFXM=. ISLG=. ISLGC=. ISLGM=. ISLT=. ISNG=. ISNGC=. ISNGM=. ISOTC=. ISOTH=. ISOTM=. ISSC=.
ISSM=. ISSU=. IST=. ISTC=. ISTM=. ISUT=. ITCB=0.0000 IVAEQ=0.0000 IVAO=0.0000 IVGOD=. IVPT=. IVST=0.0000 LCABG=. LCACL=.
LCACR=. LCAG=. LCAL=. LCALT=. LCAM=. LCAO=. LCAST=. LCAT=. LCO=0.0060 LCOX=0.0060 LCOXAR=. LCOXDR=0.0060 LCT=0.0150 LCUACU=.
LIF=. LIFR=0.0000 LLOML=. LLOO=. LLOT=. LO=0.0000 LOXDR=0.0000 LRV=. LS=. LSE=0.0000 LT=0.0150 MIB=0.0000 MRC1=. MRC2=.
MRC3=. MRC4=. MRC5=. MRCT=. MRCTA=. MSA=0.0000 MSVRV=. MTL=. NAT=. NP=0.0000 NPANL=. NPAORE=. NPARL=. NPAT=. OB=. OPTPRCCA=.
OPTPRCEX=. OPTPRCEY=. OPTPRCGR=. OPTPRCWA=. PPEGT=0.0000 PPENB=. PPENC=. PPENLI=. PPENLS=. PPENME=. PPENNR=. PPENO=.
PPENT=0.0000 PPEVBB=. PPEVEB=0.0000 PPEVO=. PPEVR=. PRC=. PRODV=. PRVT=. PSTK=0.0000 PSTKC=0.0000 PSTKL=0.0000 PSTKN=0.0000
PSTKR=0.0000 PSTKRV=0.0000 PVCL=. PVPL=. PVT=. RADP=. RAGR=. RARI=. RATI=. RCL=. RDP=. RE=-1.2240 REA=0.0000 REAJO=0.0000
RECCO=0.0000 RECD=0.0000 RECT=0.0000 RECTA=0.0000 RECTR=0.0000 RECUB=0.0000 RET=. REUNA=-1.2240 REUNR=. RLL=. RLO=. RLP=.
RLRI=. RLT=. RPAG=. RREPS=. RVBCI=. RVBPI=. RVBTI=. RVDO=. RVDT=. RVEQT=. RVLRV=. RVNO=. RVNT=. RVRI=. RVSI=. RVTI=. RVTXR=.
RVUPI=. RVUTX=. SAA=. SAL=. SBDC=. SC=. SCO=. SECU=. SEQ=-0.0150 SEQO=0.0000 SRT=. SSNP=. STBO=. STIO=. TDSCD=. TDSCE=.
TDSLG=. TDSMM=. TDSNG=. TDSO=. TDSS=. TDST=. TLCF=1.2000 TRANSA=. TSA=. TSO=. TSTK=0.0010 TSTKC=0.0010 TSTKME=. TSTKP=0.0000
TXDB=0.0000 TXDBA=0.0000 TXDBCA=0.0000 TXDBCL=0.0000 TXDITC=0.0000 TXNDB=0.0000 TXNDBA=0.0000 TXNDBL=0.0000 TXNDBR=0.0000
TXP=0.0000 TXR=0.0000 UAOX=. UAPT=. UCAPS=. UCCONS=. UCEQ=. UCUSTAD=. UDCOPRES=. UDD=. UDMB=. UDOLT=. UDPCO=. UI=. UINVT=.
ULCM=. ULCO=. UNL=. UNNP=. UNNPL=. UOPRES=. UPMCSTK=. UPMPF=. UPMPFS=. UPMSUBP=. UPSTK=. UPSTKC=. UPSTKSF=. URECT=. URECTR=.
UREVUB=. USUBPSTK=. VPAC=. VPO=. WCAP=-0.0150 XACC=. XPP=0.0000 ACCHG=0.0000 ADPAC=. AM=0.0000 AMDC=. AMGW=. AQA=. AQD=.
AQEPS=. AQI=0.0000 AQP=. AQS=0.0000 ARCE=. ARCED=. ARCEEPS=. AUTXR=. BALR=. BANLR=. BATR=. BCEF=. BCLR=. BCLTBL=. BCNLR=.
BCRBL=. BCT=. BCTBL=. BCTR=. BLTBL=. CBI=. CDPAC=. CFBD=. CFERE=. CFO=. CFPDO=. CGA=. CGRI=. CGTI=. CGUI=. CIBEGNI=-0.0270
CICURR=0.0000 CIDERGL=0.0000 CIOTHER=0.0000 CIPEN=0.0000 CISECGL=0.0000 CITOTAL=-0.0270 CNLTBL=. COGS=0.0000 CPCBL=. CPDOI=.
CPNLI=. CPPBL=. CPREI=. CSTKE=0.0000 DBI=. DFXA=. DILADJ=0.0000 DILAVX=-0.0270 DO=0.0000 DONR=0.0000 DP=0.0000 DPRET=. DTEA=.
DTED=. DTEEPS=. DTEP=. DVC=0.0000 DVDNP=. DVP=0.0000 DVPD=. DVPDP=. DVRPIV=. DVRRE=. DVSCO=. DVT=0.0000 EBIT=-0.0270
EBITDA=-0.0270 EIEA=. EMOL=. EPSFI=-0.0500 EPSFX=-0.0500 EPSPI=-0.0500 EPSPX=-0.0500 ESUB=0.0000 FATD=. FCA=. FFO=. GBBL=.
GDWLAM=. GDWLIA=. GDWLID=. GDWLIEPS=. GDWLIP=. GLA=. GLCEA=. GLCED=. GLCEEPS=. GLCEP=. GLD=. GLEPS=. GLP=. GP=0.0000 GPHBL=.
GPLBL=. GPOBL=. GPRBL=. GPTBL=. GWO=. HEDGEGL=. IB=-0.0270 IBADJ=-0.0270 IBBL=. IBCOM=-0.0270 IBKI=. IDIIS=. IDILB=. IDILC=.
IDIS=. IDIST=. IDIT=0.0000 IDITS=. IIRE=. INITB=. INTC=0.0000 IOBD=. IOI=. IORE=. IPABL=. IPHBL=. IPLBL=. IPOBL=. IPTBL=.
IPTI=. IREI=. IRENT=. IRII=. IRLI=. IRNLI=. IRSI=. ISGR=. ISGT=. ISGU=. ITCI=0.0000 IVI=. LI=. LLRCI=. LLRCR=. LLWOCI=.
LLWOCR=. LST=. MII=0.0000 NCO=. NFSR=. NI=-0.0270 NIADJ=-0.0270 NIECI=. NIINT=. NIIT=. NIM=. NIO=. NIT=. NITS=. NOPI=0.0000
NOPIO=0.0000 NRTXT=. NRTXTD=. NRTXTEPS=. OIADP=-0.0270 OIBDP=-0.0270 OPEPS=-0.0500 OPILI=. OPINCAR=. OPINI=. OPIOI=. OPIRI=.
OPITI=. OPREPSX=-0.0500 PALR=. PANLR=. PATR=. PCL=. PCLR=. PCNLR=. PCTR=. PI=-0.0270 PIDOM=. PIFO=. PLL=. PLTBL=. PNCA=0.0000
PNCAD=0.0000 PNCAEPS=0.0000 PNCIA=0.0000 PNCID=0.0000 PNCIEPS=0.0000 PNCIP=0.0000 PNCWIA=0.0000 PNCWID=0.0000 PNCWIEPS=0.0000
PNCWIP=0.0000 PNLBL=. PNLI=. POBL=. PPCBL=. PPPABL=. PPPHBL=. PPPOBL=. PPPTBL=. PRCA=0.0000 PRCAD=0.0000 PRCAEPS=0.0000
PREBL=. PRI=. PTBL=. PTRAN=. PVO=. PVON=. PWOI=. RCA=. RCD=. RCEPS=. RCP=. RDIP=0.0000 RDIPA=0.0000 RDIPD=0.0000
RDIPEPS=0.0000 REVT=0.0000 RIS=. RMUM=. RRA=. RRD=. RRP=. SALE=0.0000 SETA=. SETD=. SETEPS=. SETP=. SPCE=-0.0270
SPCED=-0.0500 SPCEEPS=-0.0500 SPI=0.0000 SPID=. SPIEPS=. SPIOA=. SPIOP=. SRET=. STKCO=. STKCPA=. TDSG=. TF=. TIE=. TII=.
TXC=0.0000 TXDFED=0.0000 TXDFO=0.0000 TXDI=0.0000 TXDS=0.0000 TXEQA=. TXEQII=. TXFED=0.0000 TXFO=0.0000 TXO=0.0000 TXS=0.0000
TXT=0.0000 TXVA=. TXW=0.0000 UDPFA=. UDVP=. UGI=. UNIAMI=. UNOPINC=. UOPI=. UPDVP=. USPI=. USUBDVP=. UTME=. UTXFED=. UXINST=.
UXINTD=. WDA=. WDD=. WDEPS=. WDP=. XAD=. XAGO=. XAGT=. XCOM=. XCOMI=. XDEPL=. XDP=. XDVRE=. XEQO=. XI=0.0000 XIDO=0.0000
XINDB=. XINDC=. XINS=. XINST=. XINT=0.0000 XINTD=0.0000 XINTOPT=. XIVI=. XIVRE=. XLR=. XNBI=. XNF=. XNINS=. XNITB=. XOBD=.
XOI=. XOPR=0.0270 XOPRAR=. XOPTD=. XOPTEPS=. XORE=. XPR=0.0000 XRD=. XRENT=. XS=. XSGA=0.0270 XSTF=. XSTFO=. XSTFWS=. XT=.
XUW=. XUWLI=. XUWNLI=. XUWOI=. XUWREI=. XUWTI=. AFUDCC=. AFUDCI=. AMC=. AOLOCH=0.0210 APALCH=0.0060 AQC=0.0000 CAPX=0.0000
CAPXV=0.0000 CDVC=. CHECH=0.0000 DEPC=. DLCCH=0.0000 DLTIS=0.0000 DLTR=0.0000 DPC=0.0000 DV=0.0000 ESUBC=0.0000 EXRE=0.0000
FIAO=0.0000 FINCF=0.0000 FOPO=0.0000 FOPOX=0.0000 FOPT=. FSRCO=. FSRCT=. FUSEO=. FUSET=. IBC=-0.0270 INTPN=. INVCH=0.0000
ITCC=. IVACO=0.0000 IVCH=0.0000 IVNCF=0.0000 IVSTCH=0.0000 OANCF=0.0000 PDVC=. PRSTKC=0.0000 PRSTKCC=. PRSTKPC=. RECCH=0.0000
SCSTKC=. SIV=0.0000 SPPE=0.0000 SPPIV=0.0000 SPSTKC=. SSTK=0.0000 TDC=. TSAFC=. TXACH=0.0000 TXBCO=0.0000 TXBCOF=0.0000
TXDC=0.0000 TXPD=. UAOLOCH=. UDFCC=. UFRETSD=. UNWCC=. UOIS=. USTDNC=. UTFDOC=. UTFOSC=. UWKCAPC=. WCAPC=. WCAPCH=.
XIDOC=0.0000 CSHO=0.5550 CSHPRI=0.5550 EMP=0.0000 MKVALT=2.2200 PRCC_C=0.3600 PRCC_F=4.0000 CONSOL=C INDFMT=INDL DATAFMT=STD
POPsrc=D CURCD=USD COSTAT=A YEAR=1993 AAER=1 d_CA=0 d_CL=0.011 d_Cash=0 d_STD=0 lag_AT=0 TA=. _ERROR_=1 _N_=940
NOTE: Division by zero detected at line 14 column 39.
GVKEY=001681 DATADATE=20081231 FYEAR=2008 TIC=ASOE GGROUP=1510 GIND=151040 GSECTOR=15 NAICS=331410 SIC=3330
CONM=APOLLO SOLAR ENERGY INC CUSIP=037637105 CIK=0000819479 EXCHG=19 FYR=12 FIC=USA ACCO=. ACDO=0.0000 ACO=0.9250
ACODO=0.9250 ACOMINC=1.2990 ACOX=0.9250 ACOXAR=. ACT=16.5700 AEDI=. ALDO=0.0000 AO=0.0000 AOCIDERGL=0.0000 AOCIOTHER=0.0000
AOCIPEN=0.0000 AOCISECGL=0.0000 AODO=0.0000 AOX=0.0000 AP=0.8760 APB=. APC=. APOFS=. ARB=. ARC=. ARTFS=. AT=36.1200 BAST=.
BKVLPS=0.4109 CA=. CAPS=17.3470 CB=. CEQ=18.3080 CEQL=18.3080 CEQT=18.3080 CH=4.8740 CHE=4.8740 CHS=. CLD2=0.0000 CLD3=0.0000
CLD4=0.0000 CLD5=0.0000 CLFC=. CLFX=. CLG=. CLIS=. CLL=. CLLC=. CLO=. CLRLL=. CLT=. CMP=. CRV=. CRVNLI=. CSTK=0.0450
DC=0.0000 DCLO=0.0000 DCOM=0.0000 DCPSTK=0.0000 DCS=. DCVSR=0.0000 DCVSUB=0.0000 DCVT=0.0000 DD=0.0000 DD1=0.0000 DD2=4.3970
DD3=0.0000 DD4=0.0000 DD5=0.0000 DFPAC=. DFS=0.0000 DLC=0.0000 DLTO=0.0000 DLTP=0.0000 DLTSUB=. DLTT=4.3970 DM=0.0000
DN=4.3970 DPACB=. DPACC=. DPACLI=. DPACLS=. DPACME=. DPACNR=. DPACO=. DPACRE=. DPACT=1.2540 DPDC=. DPLTB=. DPSC=. DPSTB=.
DPTB=. DPTC=. DPTIC=. DPVIEB=1.2540 DPVIO=. DPVIR=. DRC=0.0000 DRCI=. DRLT=0.0000 DS=0.0000 DUDD=0.0000 DVPA=0.0000 DVPIBB=.
DXD2=4.3970 DXD3=0.0000 DXD4=0.0000 DXD5=0.0000 EA=. ESOPCT=0.0000 ESOPDLT=0.0000 ESOPNR=0.0000 ESOPR=0.0000 ESOPT=0.0000
EXCADJ=. FATB=13.3490 FATC=2.6310 FATE=4.1810 FATL=0.0000 FATN=0.0000 FATO=0.6430 FATP=0.0000 FDFR=. FEA=. FEL=. FFS=.
GDWL=0.0000 GEQRV=. GOVGR=. IAEQ=. IAEQCI=. IAEQMI=. IAFICI=. IAFXI=. IAFXMI=. IALI=. IALOI=. IALTI=. IAMLI=. IAOI=. IAPLI=.
IAREI=. IASCI=. IASMI=. IASSI=. IASTI=. IATCI=. IATI=. IATMI=. IAUI=. ICAPT=22.7050 INTAN=0.0000 INTANO=0.0000 INVFG=2.0650
INVO=0.0000 INVOFS=. INVREH=. INVREI=. INVRES=. INVRM=4.3510 INVT=7.4960 INVWIP=1.0800 IP=. IPC=. IPV=. ISEQ=. ISEQC=.
ISEQM=. ISFI=. ISFXC=. ISFXM=. ISLG=. ISLGC=. ISLGM=. ISLT=. ISNG=. ISNGC=. ISNGM=. ISOTC=. ISOTH=. ISOTM=. ISSC=. ISSM=.
ISSU=. IST=. ISTC=. ISTM=. ISUT=. ITCB=0.0000 IVAEQ=0.0000 IVAO=0.0000 IVGOD=. IVPT=. IVST=0.0000 LCABG=. LCACL=. LCACR=.
LCAG=. LCAL=. LCALT=. LCAM=. LCAO=. LCAST=. LCAT=. LCO=12.4540 LCOX=11.5800 LCOXAR=. LCOXDR=11.5800 LCT=13.4150 LCUACU=.
LIF=. LIFR=0.0000 LLOML=. LLOO=. LLOT=. LO=0.0000 LOXDR=0.0000 LRV=. LS=. LSE=36.1200 LT=17.8120 MIB=0.0000 MRC1=. MRC2=.
MRC3=. MRC4=. MRC5=. MRCT=. MRCTA=. MSA=0.0000 MSVRV=. MTL=. NAT=. NP=0.0000 NPANL=. NPAORE=. NPARL=. NPAT=. OB=. OPTPRCCA=.
OPTPRCEX=. OPTPRCEY=. OPTPRCGR=. OPTPRCWA=. PPEGT=20.8040 PPENB=. PPENC=. PPENLI=. PPENLS=. PPENME=. PPENNR=. PPENO=.
PPENT=19.5500 PPEVBB=. PPEVEB=20.8040 PPEVO=. PPEVR=. PRC=. PRODV=. PRVT=. PSTK=0.0000 PSTKC=0.0000 PSTKL=0.0000 PSTKN=0.0000
PSTKR=0.0000 PSTKRV=0.0000 PVCL=. PVPL=. PVT=. RADP=. RAGR=. RARI=. RATI=. RCL=. RDP=. RE=0.9160 REA=. REAJO=0.0000
RECCO=2.8070 RECD=0.0150 RECT=3.2750 RECTA=1.2990 RECTR=0.4680 RECUB=. RET=. REUNA=-0.3830 REUNR=. RLL=. RLO=. RLP=. RLRI=.
RLT=. RPAG=. RREPS=. RVBCI=. RVBPI=. RVBTI=. RVDO=. RVDT=. RVEQT=. RVLRV=. RVNO=. RVNT=. RVRI=. RVSI=. RVTI=. RVTXR=. RVUPI=.
RVUTX=. SAA=. SAL=. SBDC=. SC=. SCO=. SECU=. SEQ=18.3080 SEQO=0.0000 SRT=. SSNP=. STBO=. STIO=. TDSCD=. TDSCE=. TDSLG=.
TDSMM=. TDSNG=. TDSO=. TDSS=. TDST=. TLCF=. TRANSA=. TSA=. TSO=. TSTK=0.0000 TSTKC=0.0000 TSTKME=. TSTKP=0.0000 TXDB=0.0000
TXDBA=0.0000 TXDBCA=0.0260 TXDBCL=0.0000 TXDITC=0.0000 TXNDB=0.0260 TXNDBA=0.0410 TXNDBL=0.0150 TXNDBR=0.0000 TXP=0.0850
TXR=0.0000 UAOX=. UAPT=. UCAPS=. UCCONS=. UCEQ=. UCUSTAD=. UDCOPRES=. UDD=. UDMB=. UDOLT=. UDPCO=. UI=. UINVT=. ULCM=. ULCO=.
UNL=. UNNP=. UNNPL=. UOPRES=. UPMCSTK=. UPMPF=. UPMPFS=. UPMSUBP=. UPSTK=. UPSTKC=. UPSTKSF=. URECT=. URECTR=. UREVUB=.
USUBPSTK=. VPAC=. VPO=. WCAP=3.1550 XACC=0.8740 XPP=. ACCHG=0.0000 ADPAC=. AM=0.0000 AMDC=. AMGW=. AQA=. AQD=. AQEPS=. AQI=.
AQP=. AQS=. ARCE=. ARCED=. ARCEEPS=. AUTXR=. BALR=. BANLR=. BATR=. BCEF=. BCLR=. BCLTBL=. BCNLR=. BCRBL=. BCT=. BCTBL=.
BCTR=. BLTBL=. CBI=. CDPAC=. CFBD=. CFERE=. CFO=. CFPDO=. CGA=. CGRI=. CGTI=. CGUI=. CIBEGNI=0.0190 CICURR=1.0930
CIDERGL=0.0000 CIOTHER=0.0000 CIPEN=0.0000 CISECGL=0.0000 CITOTAL=1.1120 CNLTBL=. COGS=4.6920 CPCBL=. CPDOI=. CPNLI=. CPPBL=.
CPREI=. CSTKE=0.0000 DBI=. DFXA=. DILADJ=0.0000 DILAVX=0.0190 DO=0.0000 DONR=0.0000 DP=0.4580 DPRET=. DTEA=. DTED=. DTEEPS=.
DTEP=. DVC=0.0000 DVDNP=. DVP=0.0000 DVPD=. DVPDP=. DVRPIV=. DVRRE=. DVSCO=. DVT=0.0000 EBIT=0.2890 EBITDA=0.7470 EIEA=.
EMOL=. EPSFI=0.0000 EPSFX=0.0000 EPSPI=0.0000 EPSPX=0.0000 ESUB=0.0000 FATD=. FCA=. FFO=. GBBL=. GDWLAM=. GDWLIA=. GDWLID=.
GDWLIEPS=. GDWLIP=. GLA=. GLCEA=. GLCED=. GLCEEPS=. GLCEP=. GLD=. GLEPS=. GLP=. GP=2.2760 GPHBL=. GPLBL=. GPOBL=. GPRBL=.
GPTBL=. GWO=. HEDGEGL=. IB=0.0190 IBADJ=0.0190 IBBL=. IBCOM=0.0190 IBKI=. IDIIS=. IDILB=. IDILC=. IDIS=. IDIST=. IDIT=0.0000
IDITS=. IIRE=. INITB=. INTC=0.0000 IOBD=. IOI=. IORE=. IPABL=. IPHBL=. IPLBL=. IPOBL=. IPTBL=. IPTI=. IREI=. IRENT=. IRII=.
IRLI=. IRNLI=. IRSI=. ISGR=. ISGT=. ISGU=. ITCI=0.0000 IVI=. LI=. LLRCI=. LLRCR=. LLWOCI=. LLWOCR=. LST=. MII=0.0000 NCO=.
NFSR=. NI=0.0190 NIADJ=0.0190 NIECI=. NIINT=. NIIT=. NIM=. NIO=. NIT=. NITS=. NOPI=0.0000 NOPIO=0.0000 NRTXT=. NRTXTD=.
NRTXTEPS=. OIADP=0.2890 OIBDP=0.7470 OPEPS=0.0000 OPILI=. OPINCAR=. OPINI=. OPIOI=. OPIRI=. OPITI=. OPREPSX=0.0000 PALR=.
PANLR=. PATR=. PCL=. PCLR=. PCNLR=. PCTR=. PI=0.2310 PIDOM=. PIFO=. PLL=. PLTBL=. PNCA=0.0000 PNCAD=0.0000 PNCAEPS=0.0000
PNCIA=0.0000 PNCID=0.0000 PNCIEPS=0.0000 PNCIP=0.0000 PNCWIA=0.0000 PNCWID=0.0000 PNCWIEPS=0.0000 PNCWIP=0.0000 PNLBL=.
PNLI=. POBL=. PPCBL=. PPPABL=. PPPHBL=. PPPOBL=. PPPTBL=. PRCA=0.0000 PRCAD=0.0000 PRCAEPS=0.0000 PREBL=. PRI=. PTBL=.
PTRAN=. PVO=. PVON=. PWOI=. RCA=. RCD=. RCEPS=. RCP=. RDIP=0.0000 RDIPA=0.0000 RDIPD=0.0000 RDIPEPS=0.0000 REVT=6.9680 RIS=.
RMUM=. RRA=. RRD=. RRP=. SALE=6.9680 SETA=. SETD=. SETEPS=. SETP=. SPCE=0.0190 SPCED=0.0000 SPCEEPS=0.0000 SPI=0.0000 SPID=.
SPIEPS=. SPIOA=. SPIOP=. SRET=. STKCO=0.0000 STKCPA=. TDSG=. TF=. TIE=. TII=. TXC=. TXDFED=. TXDFO=. TXDI=-0.0250 TXDS=.
TXEQA=. TXEQII=. TXFED=. TXFO=. TXO=0.0000 TXS=. TXT=0.2120 TXVA=. TXW=0.0000 UDPFA=. UDVP=. UGI=. UNIAMI=. UNOPINC=. UOPI=.
UPDVP=. USPI=. USUBDVP=. UTME=. UTXFED=. UXINST=. UXINTD=. WDA=. WDD=. WDEPS=. WDP=. XAD=. XAGO=. XAGT=. XCOM=. XCOMI=.
XDEPL=. XDP=. XDVRE=. XEQO=. XI=0.0000 XIDO=0.0000 XINDB=. XINDC=. XINS=. XINST=. XINT=0.0580 XINTD=. XINTOPT=0.0000 XIVI=.
XIVRE=. XLR=. XNBI=. XNF=. XNINS=. XNITB=. XOBD=. XOI=. XOPR=6.2210 XOPRAR=. XOPTD=0.0000 XOPTEPS=0.0000 XORE=. XPR=0.0000
XRD=0.0830 XRENT=. XS=. XSGA=1.5290 XSTF=. XSTFO=. XSTFWS=. XT=. XUW=. XUWLI=. XUWNLI=. XUWOI=. XUWREI=. XUWTI=. AFUDCC=.
AFUDCI=. AMC=. AOLOCH=3.4270 APALCH=. AQC=. CAPX=8.9450 CAPXV=8.9450 CDVC=. CHECH=2.2550 DEPC=. DLCCH=0.0000 DLTIS=0.0000
DLTR=0.0000 DPC=0.4580 DV=0.0000 ESUBC=0.0000 EXRE=0.0890 FIAO=13.1250 FINCF=13.1250 FOPO=0.1500 FOPOX=0.1500 FOPT=. FSRCO=.
FSRCT=. FUSEO=. FUSET=. IBC=0.0190 INTPN=. INVCH=-5.1150 ITCC=. IVACO=0.0000 IVCH=0.0000 IVNCF=-8.9450 IVSTCH=0.0000
OANCF=-2.0140 PDVC=. PRSTKC=0.0000 PRSTKCC=. PRSTKPC=. RECCH=-0.9280 SCSTKC=. SIV=0.0000 SPPE=0.0000 SPPIV=0.0000 SPSTKC=.
SSTK=0.0000 TDC=. TSAFC=. TXACH=. TXBCO=0.0000 TXBCOF=0.0000 TXDC=-0.0250 TXPD=0.1610 UAOLOCH=. UDFCC=. UFRETSD=. UNWCC=.
UOIS=. USTDNC=. UTFDOC=. UTFOSC=. UWKCAPC=. WCAPC=. WCAPCH=. XIDOC=0.0000 CSHO=44.5550 CSHPRI=44.5550 EMP=0.2140
MKVALT=311.8850 PRCC_C=7.0000 PRCC_F=7.0000 CONSOL=C INDFMT=INDL DATAFMT=STD POPsrc=D CURCD=USD COSTAT=A YEAR=1996 AAER=1
d_CA=16.57 d_CL=13.4 d_Cash=4.874 d_STD=0 lag_AT=0 TA=. _ERROR_=1 _N_=941
NOTE: Missing values were generated as a result of performing an operation on missing values.
      Each place is given by: (Number of times) at (Line):(Column).
      513 at 9:9     508 at 10:9    74 at 11:10    59 at 12:10    513 at 14:10   15 at 14:17    4 at 14:34
NOTE: Mathematical operations could not be performed at the following places. The results of the operations have been set to
      missing values.
      Each place is given by: (Number of times) at (Line):(Column).
      2 at 14:39
NOTE: There were 2104 observations read from the data set WORK.COMBINED.
NOTE: The data set WORK.TOT_ACCR has 2104 observations and 810 variables.
NOTE: DATA statement used (Total process time):
      real time           0.12 seconds
      cpu time            0.12 seconds


17
18   data mjones;
19   set tot_accr;
20
21   sic2=put(substr(sic,1,2),2.);
22
23   if AT ge 0;
24   if ACT=. then delete;
25
26   run;

NOTE: There were 2104 observations read from the data set WORK.TOT_ACCR.
NOTE: The data set WORK.MJONES has 1627 observations and 811 variables.
NOTE: DATA statement used (Total process time):
      real time           0.02 seconds
      cpu time            0.01 seconds


27   proc sort data=mjones;
28   by gvkey datadate;
29   run;

NOTE: There were 1627 observations read from the data set WORK.MJONES.
NOTE: The data set WORK.MJONES has 1627 observations and 811 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.04 seconds
      cpu time            0.04 seconds


30   data lagged_variables;
31   set mjones;
32
33   lag_Rect=lag(RECT);
34   lag_Revt=lag(REVT);
35   lag_COGS=lag(COGS);
36   lag_ACT=lag(ACT);
37   lag_DP=lag(DP);
38   lag_PPEGT=lag(PPEGT);
39   lag_LCT=lag(LCT);
40   lag_XSGA=lag(XSGA);
41   lag_DLTT=lag(DLTT);
42   lag_CH=lag(CH);
43   lag_TXP=lag(TXP);
44   lag_dlc=lag(dlc);
45
46
47   by gvkey DATADATE;
48   if first.gvkey then delete;
49   KEEP lag_Rect lag_Revt lag_COGS lag_ACT lag_AT lag_DP lag_PPEGT lag_LCT lag_XSGA lag_DLTT gvkey fyear year RECT REVT
49 ! COGS ACT AT PPEGT LCT XSGA DLTT CIK SIC lag_CH CH lag_TXP TXP DLCCH TA SIC2 lag_dlc dlc d_CA d_CL d_Cash d_STD DP;
50
51   run;

NOTE: There were 1627 observations read from the data set WORK.MJONES.
NOTE: The data set WORK.LAGGED_VARIABLES has 1404 observations and 38 variables.
NOTE: DATA statement used (Total process time):
      real time           0.02 seconds
      cpu time            0.01 seconds


52   data blank_variables;
53   set lagged_variables;
54   if lag_Rect=. then delete;
55   if lag_Revt=. then delete;
56   if lag_COGS=. then delete;
57   if lag_ACT=. then delete;
58   if lag_DP=. then delete;
59   if lag_PPEGT=. then delete;
60   if lag_LCT=. then delete;
61   if lag_XSGA=. then delete;
62   if lag_DLTT=. then delete;
63   if lag_CH=. then delete;
64   if lag_TXP=. then delete;
65   run;

NOTE: There were 1404 observations read from the data set WORK.LAGGED_VARIABLES.
NOTE: The data set WORK.BLANK_VARIABLES has 1171 observations and 38 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds


66   data Beneish_variables;
67   set blank_variables;
68
69   DRSI=(RECT/REVT)/(lag_Rect/lag_Revt);
70   GMI=((lag_Revt-lag_COGS)/lag_Revt)/((REVT-COGS)/REVT);
71   AQI=((1-(ACT+PPEGT))/AT)/((1-(lag_ACT+lag_PPEGT))/lag_AT);
72   SGI=REVT/lag_Revt;
73   DEPI=(lag_DP/(lag_DP+Lag_PPEGT))/(DP/(DP+PPEGT));
74   LVGI=((DLTT+LCT)/AT)/((lag_DLTT+lag_LCT)/lag_AT);
75   SGAI=(XSGA/REVT)/(lag_XSGA/lag_Revt);
76
77   run;

NOTE: Division by zero detected at line 69 column 17.
NOTE: Division by zero detected at line 73 column 13.
GVKEY=001084 FYEAR=2007 SIC=7370 CIK=0000029850 ACT=0.3370 AT=0.3460 CH=0.2710 DLC=0.7740 DLTT=0.0000 LCT=2.1120 PPEGT=0.0090
RECT=0.0000 TXP=0.0000 COGS=0.0570 DP=0.0000 REVT=0.0050 XSGA=0.5120 DLCCH=. YEAR=1980 d_CA=0.335 d_CL=-2.728 d_Cash=0.269
d_STD=-1.067 lag_AT=0.002 TA=863.5 sic2=73 lag_Rect=0 lag_Revt=0.002 lag_COGS=0.001 lag_ACT=0.002 lag_DP=0 lag_PPEGT=0
lag_LCT=4.84 lag_XSGA=0.051 lag_DLTT=0 lag_CH=0.002 lag_TXP=0 lag_dlc=1.841 DRSI=. GMI=-0.048076923 AQI=0.0037879227 SGI=2.5
DEPI=. LVGI=0.0025223332 SGAI=4.0156862745 _ERROR_=1 _N_=52
NOTE: Division by zero detected at line 69 column 17.
GVKEY=001084 FYEAR=2008 SIC=7370 CIK=0000029850 ACT=0.1670 AT=0.1740 CH=0.0000 DLC=0.7730 DLTT=0.0000 LCT=3.7120 PPEGT=0.0090
RECT=0.0000 TXP=0.0000 COGS=0.1990 DP=0.0020 REVT=0.0930 XSGA=0.5910 DLCCH=0.0000 YEAR=1981 d_CA=-0.17 d_CL=1.6 d_Cash=-0.271
d_STD=-0.001 lag_AT=0.346 TA=-4.341040462 sic2=73 lag_Rect=0 lag_Revt=0.005 lag_COGS=0.057 lag_ACT=0.337 lag_DP=0
lag_PPEGT=0.009 lag_LCT=2.112 lag_XSGA=0.512 lag_DLTT=0 lag_CH=0.271 lag_TXP=0 lag_dlc=0.774 DRSI=. GMI=9.1245283019
AQI=2.5053956202 SGI=18.6 DEPI=0 LVGI=3.4949494949 SGAI=0.0620589718 _ERROR_=1 _N_=53
NOTE: Division by zero detected at line 69 column 17.
GVKEY=001084 FYEAR=2009 SIC=7370 CIK=0000029915 ACT=0.0000 AT=0.0040 CH=0.0000 DLC=0.9530 DLTT=0.0000 LCT=3.8680 PPEGT=0.0110
RECT=0.0000 TXP=0.0000 COGS=0.1610 DP=0.0040 REVT=0.1010 XSGA=0.6580 DLCCH=0.1790 YEAR=1996 d_CA=-0.167 d_CL=0.156 d_Cash=0
d_STD=0.18 lag_AT=0.174 TA=-0.844827586 sic2=73 lag_Rect=0 lag_Revt=0.093 lag_COGS=0.199 lag_ACT=0.167 lag_DP=0.002
lag_PPEGT=0.009 lag_LCT=3.712 lag_XSGA=0.591 lag_DLTT=0 lag_CH=0 lag_TXP=0 lag_dlc=0.773 DRSI=. GMI=1.9186379928
AQI=52.210558252 SGI=1.0860215054 DEPI=0.6818181818 LVGI=45.328125 SGAI=1.0251796753 _ERROR_=1 _N_=54
NOTE: Division by zero detected at line 69 column 17.
GVKEY=001084 FYEAR=2010 SIC=7370 CIK=0000029915 ACT=0.4010 AT=0.4020 CH=0.4010 DLC=0.7750 DLTT=0.0000 LCT=3.6540 PPEGT=0.0110
RECT=0.0000 TXP=0.0000 COGS=0.0100 DP=0.0030 REVT=0.4160 XSGA=0.9990 DLCCH=-0.0020 YEAR=1997 d_CA=0.401 d_CL=-0.214
d_Cash=0.401 d_STD=-0.178 lag_AT=0.004 TA=8.25 sic2=73 lag_Rect=0 lag_Revt=0.101 lag_COGS=0.161 lag_ACT=0 lag_DP=0.004
lag_PPEGT=0.011 lag_LCT=3.868 lag_XSGA=0.658 lag_DLTT=0 lag_CH=0 lag_TXP=0 lag_dlc=0.953 DRSI=. GMI=-0.608691411
AQI=0.0059158203 SGI=4.1188118812 DEPI=1.2444444444 LVGI=0.0093997438 SGAI=0.3686104454 _ERROR_=1 _N_=55
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 48.
NOTE: Division by zero detected at line 75 column 11.
GVKEY=001084 FYEAR=2011 SIC=7370 CIK=0000029915 ACT=0.2790 AT=0.2790 CH=0.1530 DLC=0.7730 DLTT=0.0000 LCT=3.4380 PPEGT=0.0110
RECT=0.0430 TXP=0.0000 COGS=0.0850 DP=0.0010 REVT=0.0000 XSGA=1.6090 DLCCH=-0.0020 YEAR=1998 d_CA=-0.122 d_CL=-0.216
d_Cash=-0.248 d_STD=-0.002 lag_AT=0.402 TA=0.8432835821 sic2=73 lag_Rect=0 lag_Revt=0.416 lag_COGS=0.01 lag_ACT=0.401
lag_DP=0.003 lag_PPEGT=0.011 lag_LCT=3.654 lag_XSGA=0.999 lag_DLTT=0 lag_CH=0.401 lag_TXP=0 lag_dlc=0.775 DRSI=. GMI=.
AQI=1.7398142053 SGI=0 DEPI=2.5714285714 LVGI=1.3556862122 SGAI=. _ERROR_=1 _N_=56
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 73 column 33.
NOTE: Division by zero detected at line 75 column 11.
GVKEY=001084 FYEAR=2012 SIC=7370 CIK=0000029915 ACT=0.2300 AT=0.2370 CH=0.0950 DLC=0.7730 DLTT=0.0000 LCT=3.5250 PPEGT=0.0110
RECT=0.1350 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=1.6640 DLCCH=0.0000 YEAR=1999 d_CA=-0.049 d_CL=0.087
d_Cash=-0.058 d_STD=0 lag_AT=0.279 TA=-0.279569892 sic2=73 lag_Rect=0.043 lag_Revt=0 lag_COGS=0.085 lag_ACT=0.279
lag_DP=0.001 lag_PPEGT=0.011 lag_LCT=3.438 lag_XSGA=1.609 lag_DLTT=0 lag_CH=0.153 lag_TXP=0 lag_dlc=0.773 DRSI=. GMI=.
AQI=1.2584596185 SGI=. DEPI=. LVGI=1.2070051031 SGAI=. _ERROR_=1 _N_=57
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 73 column 37.
NOTE: Division by zero detected at line 75 column 11.
GVKEY=001084 FYEAR=2013 SIC=7370 CIK=0000029915 ACT=0.3210 AT=0.3280 CH=0.0220 DLC=1.1160 DLTT=0.0000 LCT=4.3300 PPEGT=0.0000
RECT=0.2990 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=3.9700 DLCCH=0.8000 YEAR=2000 d_CA=0.091 d_CL=0.805
d_Cash=-0.073 d_STD=0.343 lag_AT=0.237 TA=-1.257383966 sic2=73 lag_Rect=0.135 lag_Revt=0 lag_COGS=0 lag_ACT=0.23 lag_DP=0
lag_PPEGT=0.011 lag_LCT=3.525 lag_XSGA=1.664 lag_DLTT=0 lag_CH=0.095 lag_TXP=0 lag_dlc=0.773 DRSI=. GMI=. AQI=0.646401716
SGI=. DEPI=. LVGI=0.8875713544 SGAI=. _ERROR_=1 _N_=58
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 73 column 13.
NOTE: Division by zero detected at line 75 column 11.
GVKEY=001084 FYEAR=2014 SIC=7370 CIK=0000029915 ACT=0.0280 AT=0.0280 CH=0.0280 DLC=1.1100 DLTT=0.0000 LCT=4.6320 PPEGT=0.0000
RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=0.8160 DLCCH=0.1000 YEAR=2001 d_CA=-0.293 d_CL=0.302
d_Cash=0.006 d_STD=-0.006 lag_AT=0.328 TA=-1.850609756 sic2=73 lag_Rect=0.299 lag_Revt=0 lag_COGS=0 lag_ACT=0.321 lag_DP=0
lag_PPEGT=0 lag_LCT=4.33 lag_XSGA=3.97 lag_DLTT=0 lag_CH=0.022 lag_TXP=0 lag_dlc=1.116 DRSI=. GMI=. AQI=16.769198401 SGI=.
DEPI=. LVGI=12.531309799 SGAI=. _ERROR_=1 _N_=59
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 73 column 13.
NOTE: Division by zero detected at line 75 column 11.
GVKEY=001084 FYEAR=2015 SIC=7370 CIK=0000030780 ACT=0.0260 AT=0.0260 CH=0.0260 DLC=1.5830 DLTT=0.0000 LCT=5.1680 PPEGT=0.0000
RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=0.7690 DLCCH=0.4790 YEAR=1994 d_CA=-0.002 d_CL=0.536
d_Cash=-0.002 d_STD=0.473 lag_AT=0.028 TA=-2.25 sic2=73 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=0.028 lag_DP=0 lag_PPEGT=0
lag_LCT=4.632 lag_XSGA=0.816 lag_DLTT=0 lag_CH=0.028 lag_TXP=0 lag_dlc=1.11 DRSI=. GMI=. AQI=1.079138968 SGI=. DEPI=.
LVGI=1.2015411186 SGAI=. _ERROR_=1 _N_=60
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 48.
NOTE: Division by zero detected at line 75 column 11.
GVKEY=001228 FYEAR=2011 SIC=4950 CIK=0000084112 ACT=7.6090 AT=7.6160 CH=0.7830 DLC=0.0280 DLTT=0.0000 LCT=0.5810 PPEGT=0.1360
RECT=0.1500 TXP=0.0000 COGS=0.0000 DP=0.0010 REVT=0.0000 XSGA=1.3800 DLCCH=. YEAR=1984 d_CA=0.866 d_CL=-9.551 d_Cash=0.382
d_STD=-6.319 lag_AT=20.496 TA=0.181254879 sic2=49 lag_Rect=2.493 lag_Revt=14.632 lag_COGS=8.664 lag_ACT=6.743 lag_DP=0.535
lag_PPEGT=0.691 lag_LCT=10.132 lag_XSGA=7.126 lag_DLTT=0.005 lag_CH=0.401 lag_TXP=0 lag_dlc=6.347 DRSI=. GMI=.
AQI=2.8212597597 SGI=0 DEPI=59.783849918 LVGI=0.1542442073 SGAI=. _ERROR_=1 _N_=161
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 75 column 11.
GVKEY=001228 FYEAR=2012 SIC=4950 CIK=0000084112 ACT=4.3830 AT=8.1080 CH=0.2840 DLC=0.2280 DLTT=0.0000 LCT=0.9090 PPEGT=3.5680
RECT=0.2670 TXP=0.0000 COGS=0.0000 DP=0.0030 REVT=0.0000 XSGA=1.0460 DLCCH=-0.8000 YEAR=1985 d_CA=-3.226 d_CL=0.328
d_Cash=-0.499 d_STD=0.2 lag_AT=7.616 TA=-0.375262605 sic2=49 lag_Rect=0.15 lag_Revt=0 lag_COGS=0 lag_ACT=7.609 lag_DP=0.001
lag_PPEGT=0.136 lag_LCT=0.581 lag_XSGA=1.38 lag_DLTT=0 lag_CH=0.783 lag_TXP=0 lag_dlc=0.028 DRSI=. GMI=. AQI=0.9680070713
SGI=. DEPI=8.6885644769 LVGI=1.4696061008 SGAI=. _ERROR_=1 _N_=162
NOTE: Division by zero detected at line 69 column 27.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 75 column 27.
GVKEY=001228 FYEAR=2013 SIC=4950 CIK=0000084112 ACT=2.7970 AT=7.2170 CH=0.6960 DLC=0.0000 DLTT=0.0000 LCT=0.2710 PPEGT=4.5300
RECT=0.4170 TXP=0.0000 COGS=0.2180 DP=0.1840 REVT=0.3910 XSGA=1.5330 DLCCH=-0.2280 YEAR=1982 d_CA=-1.586 d_CL=-0.638
d_Cash=0.412 d_STD=-0.228 lag_AT=8.108 TA=-0.218549581 sic2=49 lag_Rect=0.267 lag_Revt=0 lag_COGS=0 lag_ACT=4.383
lag_DP=0.003 lag_PPEGT=3.568 lag_LCT=0.909 lag_XSGA=1.046 lag_DLTT=0 lag_CH=0.284 lag_TXP=0 lag_dlc=0.228 DRSI=. GMI=.
AQI=1.0226042202 SGI=. DEPI=0.0215230175 LVGI=0.3349364727 SGAI=. _ERROR_=1 _N_=163
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 75 column 11.
GVKEY=001259 FYEAR=2008 SIC=2836 CIK=0000101788 ACT=4.8270 AT=5.3200 CH=4.6620 DLC=0.0030 DLTT=0.0170 LCT=2.8800 PPEGT=0.4850
RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0510 REVT=0.0000 XSGA=14.2490 DLCCH=. YEAR=1979 d_CA=-2.291 d_CL=1.05 d_Cash=-2.306
d_STD=0.003 lag_AT=7.82 TA=-0.138491049 sic2=28 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=7.118 lag_DP=0.039 lag_PPEGT=0.427
lag_LCT=1.83 lag_XSGA=9.597 lag_DLTT=0 lag_CH=6.968 lag_TXP=0 lag_dlc=0 DRSI=. GMI=. AQI=0.9684210526 SGI=. DEPI=0.8795758647
LVGI=2.3269793336 SGAI=. _ERROR_=1 _N_=197
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 75 column 11.
GVKEY=001259 FYEAR=2009 SIC=2836 CIK=0000101788 ACT=0.1840 AT=0.5570 CH=0.1290 DLC=0.0040 DLTT=0.0130 LCT=1.4320 PPEGT=0.4850
RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0350 REVT=0.0000 XSGA=5.6640 DLCCH=. YEAR=1980 d_CA=-4.643 d_CL=-1.448 d_Cash=-4.533
d_STD=0.001 lag_AT=5.32 TA=0.245112782 sic2=28 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=4.827 lag_DP=0.051 lag_PPEGT=0.485
lag_LCT=2.88 lag_XSGA=14.249 lag_DLTT=0.017 lag_CH=4.662 lag_TXP=0 lag_dlc=0.003 DRSI=. GMI=. AQI=-0.733171676 SGI=.
DEPI=1.4136460554 LVGI=4.7640442754 SGAI=. _ERROR_=1 _N_=198
NOTE: Division by zero detected at line 69 column 27.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 75 column 27.
GVKEY=001259 FYEAR=2010 SIC=2836 CIK=0000101788 ACT=2.0270 AT=2.2420 CH=0.3210 DLC=0.0050 DLTT=0.8440 LCT=16.9990
PPEGT=0.4110 RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0780 REVT=0.0190 XSGA=2.1430 DLCCH=. YEAR=1981 d_CA=1.843 d_CL=15.567
d_Cash=0.192 d_STD=0.001 lag_AT=0.557 TA=-25.12208259 sic2=28 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=0.184 lag_DP=0.035
lag_PPEGT=0.485 lag_LCT=1.432 lag_XSGA=5.664 lag_DLTT=0.013 lag_CH=0.129 lag_TXP=0 lag_dlc=0.004 DRSI=. GMI=.
AQI=-1.079320632 SGI=. DEPI=0.4219674556 LVGI=3.0677475314 SGAI=. _ERROR_=1 _N_=199
NOTE: Division by zero detected at line 69 column 17.
GVKEY=001259 FYEAR=2011 SIC=2836 CIK=0000102379 ACT=0.3990 AT=0.5220 CH=0.3540 DLC=0.0000 DLTT=1.9090 LCT=5.7480 PPEGT=0.3870
RECT=0.0000 TXP=0.0000 COGS=0.5890 DP=0.0250 REVT=5.2000 XSGA=. DLCCH=. YEAR=1987 d_CA=-1.628 d_CL=-11.251 d_Cash=0.033
d_STD=-0.005 lag_AT=2.242 TA=4.2640499554 sic2=28 lag_Rect=0 lag_Revt=0.019 lag_COGS=0 lag_ACT=2.027 lag_DP=0.078
lag_PPEGT=0.411 lag_LCT=16.999 lag_XSGA=2.143 lag_DLTT=0.844 lag_CH=0.321 lag_TXP=0 lag_dlc=0.005 DRSI=. GMI=1.1277380178
AQI=-0.639175313 SGI=273.68421053 DEPI=2.6287116564 LVGI=1.8431296131 SGAI=. _ERROR_=1 _N_=200
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 73 column 33.
NOTE: Division by zero detected at line 75 column 11.
GVKEY=001367 FYEAR=2007 SIC=9995 CIK=0000320193 ACT=0.0000 AT=5.0070 CH=0.0000 DLC=0.0000 DLTT=0.0000 LCT=0.2200 PPEGT=5.0070
RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=0.1030 DLCCH=0.0000 YEAR=2002 d_CA=0 d_CL=0.102 d_Cash=0
d_STD=0 lag_AT=5.007 TA=-0.02037148 sic2=99 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=0 lag_DP=0 lag_PPEGT=5.007 lag_LCT=0.118
lag_XSGA=0.107 lag_DLTT=0 lag_CH=0 lag_TXP=0 lag_dlc=0 DRSI=. GMI=. AQI=1 SGI=. DEPI=. LVGI=1.8644067797 SGAI=. _ERROR_=1
_N_=256
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 75 column 11.
GVKEY=001367 FYEAR=2008 SIC=9995 CIK=0000320568 ACT=0.0000 AT=1.4960 CH=0.0000 DLC=0.0000 DLTT=0.0000 LCT=0.3310 PPEGT=1.4960
RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=3.5110 REVT=0.0000 XSGA=0.1100 DLCCH=0.0000 YEAR=1985 d_CA=0 d_CL=0.111 d_Cash=0
d_STD=0 lag_AT=5.007 TA=-0.723387258 sic2=99 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=0 lag_DP=0 lag_PPEGT=5.007 lag_LCT=0.22
lag_XSGA=0.103 lag_DLTT=0 lag_CH=0 lag_TXP=0 lag_dlc=0 DRSI=. GMI=. AQI=0.4142937026 SGI=. DEPI=0 LVGI=5.0356009966 SGAI=.
_ERROR_=1 _N_=257
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 73 column 37.
NOTE: Division by zero detected at line 75 column 11.
GVKEY=001367 FYEAR=2009 SIC=9995 CIK=0000320568 ACT=1.0700 AT=1.0700 CH=1.0700 DLC=0.0000 DLTT=0.0000 LCT=0.0090 PPEGT=0.0000
RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=0.1050 DLCCH=0.0000 YEAR=1986 d_CA=1.07 d_CL=-0.322 d_Cash=1.07
d_STD=0 lag_AT=1.496 TA=0.2152406417 sic2=99 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=0 lag_DP=3.511 lag_PPEGT=1.496
lag_LCT=0.331 lag_XSGA=0.11 lag_DLTT=0 lag_CH=0 lag_TXP=0 lag_dlc=0 DRSI=. GMI=. AQI=0.1973168526 SGI=. DEPI=.
LVGI=0.0380156422 SGAI=. _ERROR_=1 _N_=258
NOTE: Division by zero detected at line 69 column 11.
NOTE: Division by zero detected at line 70 column 25.
NOTE: Division by zero detected at line 72 column 9.
NOTE: Division by zero detected at line 73 column 13.
NOTE: Division by zero detected at line 75 column 11.
WARNING: Limit set by ERRORS= option reached.  Further errors of this type will not be printed.
GVKEY=001367 FYEAR=2010 SIC=9995 CIK=0000320573 ACT=0.9760 AT=0.9760 CH=0.9760 DLC=0.0000 DLTT=0.0000 LCT=0.0120 PPEGT=0.0000
RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=0.1020 DLCCH=0.0000 YEAR=1996 d_CA=-0.094 d_CL=0.003
d_Cash=-0.094 d_STD=0 lag_AT=1.07 TA=-0.002803738 sic2=99 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=1.07 lag_DP=0 lag_PPEGT=0
lag_LCT=0.009 lag_XSGA=0.105 lag_DLTT=0 lag_CH=1.07 lag_TXP=0 lag_dlc=0 DRSI=. GMI=. AQI=-0.37587822 SGI=. DEPI=.
LVGI=1.4617486339 SGAI=. _ERROR_=1 _N_=259
NOTE: Missing values were generated as a result of performing an operation on missing values.
      Each place is given by: (Number of times) at (Line):(Column).
      8 at 69:11    8 at 70:42    4 at 71:13    3 at 71:50    6 at 73:41    1 at 74:12    3 at 74:41    14 at 75:11
NOTE: Mathematical operations could not be performed at the following places. The results of the operations have been set to
      missing values.
      Each place is given by: (Number of times) at (Line):(Column).
      26 at 69:11   11 at 69:17   4 at 69:27    23 at 70:25   7 at 70:48    1 at 71:21    1 at 71:50    23 at 72:9
      14 at 73:13   6 at 73:33    2 at 73:37    1 at 74:17    1 at 74:41    26 at 75:11   4 at 75:27
NOTE: There were 1171 observations read from the data set WORK.BLANK_VARIABLES.
NOTE: The data set WORK.BENEISH_VARIABLES has 1171 observations and 45 variables.
NOTE: DATA statement used (Total process time):
      real time           0.10 seconds
      cpu time            0.06 seconds


78   data Creating_key;
79   set Beneish_variables;
80   key =cats(fyear,SIC2);
81   if CIK =. then delete;
82
83   Run;

NOTE: Character values have been converted to numeric values at the places given by: (Line):(Column).
      81:4
NOTE: There were 1171 observations read from the data set WORK.BENEISH_VARIABLES.
NOTE: The data set WORK.CREATING_KEY has 1171 observations and 46 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds


84   proc sort data= creating_key; by gvkey datadate; run;
ERROR: Variable DATADATE not found.

NOTE: The SAS System stopped processing this step because of errors.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds



85   proc sql;
86   create table beneish_m as select
87   creating_key.*, aaer_combined.*
88   from work.creating_key as a LEFT JOIN fsa.aaer_combined as b
89   on a.cik=b.cik
90   and a.fyear=b.year;
WARNING: Variable CIK already exists on file WORK.BENEISH_M.
WARNING: Variable YEAR already exists on file WORK.BENEISH_M.
NOTE: Table WORK.BENEISH_M created, with 1171 rows and 47 columns.

91   run;
NOTE: PROC SQL statements are executed immediately; The RUN statement has no effect.
92   quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           0.08 seconds
      cpu time            0.09 seconds


93   proc sort data=beneish_m; by gvkey datadate; run;
ERROR: Variable DATADATE not found.

NOTE: The SAS System stopped processing this step because of errors.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds



94   data beneish_index;
95   set beneish_m;
96   key_ind=1;
97   keep key;
98   run;

NOTE: There were 1171 observations read from the data set WORK.BENEISH_M.
NOTE: The data set WORK.BENEISH_INDEX has 1171 observations and 1 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds


99   proc sort data=beneish_index nodup; by key; run;

NOTE: There were 1171 observations read from the data set WORK.BENEISH_INDEX.
NOTE: 855 duplicate observations were deleted.
NOTE: The data set WORK.BENEISH_INDEX has 316 observations and 1 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds


100  proc sql;
101  create table merge_back as select
102  beneish_index.*, beneish_m.*
103  from work.beneish_m as a LEFT JOIN work.beneish_index as b
104  on a.key=b.key;
WARNING: Variable key already exists on file WORK.MERGE_BACK.
NOTE: Table WORK.MERGE_BACK created, with 1171 rows and 47 columns.

105
106  run;
NOTE: PROC SQL statements are executed immediately; The RUN statement has no effect.
107  quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           0.05 seconds
      cpu time            0.04 seconds


108  proc contents data=Fsa.compustat_short;run;
NOTE: Writing HTML Body file: sashtml.htm

NOTE: PROCEDURE CONTENTS used (Total process time):
      real time           0.46 seconds
      cpu time            0.40 seconds


109  Data Work.combined;
110  Set fsa.compustat_short;
111  Set fsa.aaer_combined;
112  Run;

NOTE: There were 2105 observations read from the data set FSA.COMPUSTAT_SHORT.
NOTE: There were 2104 observations read from the data set FSA.AAER_COMBINED.
NOTE: The data set WORK.COMBINED has 2104 observations and 804 variables.
NOTE: DATA statement used (Total process time):
      real time           0.10 seconds
      cpu time            0.03 seconds


113  proc sort data=Work.combined; by gvkey datadate; run;

NOTE: There were 2104 observations read from the data set WORK.COMBINED.
NOTE: The data set WORK.COMBINED has 2104 observations and 804 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.04 seconds
      cpu time            0.04 seconds


114  data tot_accr;
115  set combined;
116
117  d_CA=ACT-lag(ACT);
118  d_CL=LCT-lag(LCT);
119  d_Cash=CH-lag(CH);
120  d_STD=DLC-lag(DLC);
121  lag_AT=lag(AT);
122  TA=(d_CA - d_CL - d_Cash + d_STD - DP)/lag_AT;
123
124  run;

NOTE: Division by zero detected at line 122 column 39.
GVKEY=001681 DATADATE=20080331 FYEAR=2007 TIC=ASOE GGROUP=1510 GIND=151040 GSECTOR=15 NAICS=331410 SIC=3330
CONM=APOLLO SOLAR ENERGY INC CUSIP=037637105 CIK=0000819479 EXCHG=19 FYR=3 FIC=USA ACCO=. ACDO=0.0000 ACO=0.0000 ACODO=0.0000
ACOMINC=0.0000 ACOX=0.0000 ACOXAR=. ACT=0.0000 AEDI=. ALDO=0.0000 AO=0.0000 AOCIDERGL=0.0000 AOCIOTHER=0.0000 AOCIPEN=0.0000
AOCISECGL=0.0000 AODO=0.0000 AOX=0.0000 AP=0.0090 APB=. APC=. APOFS=. ARB=. ARC=. ARTFS=. AT=0.0000 BAST=0.0000
BKVLPS=-0.0270 CA=. CAPS=1.2090 CB=. CEQ=-0.0150 CEQL=-0.0150 CEQT=-0.0150 CH=0.0000 CHE=0.0000 CHS=. CLD2=0.0000 CLD3=0.0000
CLD4=0.0000 CLD5=0.0000 CLFC=. CLFX=. CLG=. CLIS=. CLL=. CLLC=. CLO=. CLRLL=. CLT=. CMP=. CRV=. CRVNLI=. CSTK=0.0010
DC=0.0000 DCLO=0.0000 DCOM=0.0000 DCPSTK=0.0000 DCS=0.0000 DCVSR=0.0000 DCVSUB=0.0000 DCVT=0.0000 DD=0.0000 DD1=0.0000
DD2=0.0000 DD3=0.0000 DD4=0.0000 DD5=0.0000 DFPAC=. DFS=0.0000 DLC=0.0000 DLTO=0.0000 DLTP=0.0000 DLTSUB=. DLTT=0.0000
DM=0.0000 DN=0.0000 DPACB=. DPACC=. DPACLI=. DPACLS=. DPACME=. DPACNR=. DPACO=. DPACRE=. DPACT=0.0000 DPDC=. DPLTB=. DPSC=.
DPSTB=. DPTB=. DPTC=. DPTIC=. DPVIEB=0.0000 DPVIO=. DPVIR=. DRC=0.0000 DRCI=. DRLT=0.0000 DS=0.0000 DUDD=0.0000 DVPA=0.0000
DVPIBB=. DXD2=0.0000 DXD3=0.0000 DXD4=0.0000 DXD5=0.0000 EA=. ESOPCT=0.0000 ESOPDLT=0.0000 ESOPNR=0.0000 ESOPR=0.0000
ESOPT=0.0000 EXCADJ=. FATB=0.0000 FATC=0.0000 FATE=0.0000 FATL=0.0000 FATN=0.0000 FATO=0.0000 FATP=0.0000 FDFR=. FEA=. FEL=.
FFS=. GDWL=0.0000 GEQRV=. GOVGR=. IAEQ=. IAEQCI=. IAEQMI=. IAFICI=. IAFXI=. IAFXMI=. IALI=. IALOI=. IALTI=. IAMLI=. IAOI=.
IAPLI=. IAREI=. IASCI=. IASMI=. IASSI=. IASTI=. IATCI=. IATI=. IATMI=. IAUI=. ICAPT=-0.0150 INTAN=0.0000 INTANO=0.0000
INVFG=0.0000 INVO=0.0000 INVOFS=. INVREH=. INVREI=. INVRES=. INVRM=0.0000 INVT=0.0000 INVWIP=0.0000 IP=. IPC=. IPV=. ISEQ=.
ISEQC=. ISEQM=. ISFI=. ISFXC=. ISFXM=. ISLG=. ISLGC=. ISLGM=. ISLT=. ISNG=. ISNGC=. ISNGM=. ISOTC=. ISOTH=. ISOTM=. ISSC=.
ISSM=. ISSU=. IST=. ISTC=. ISTM=. ISUT=. ITCB=0.0000 IVAEQ=0.0000 IVAO=0.0000 IVGOD=. IVPT=. IVST=0.0000 LCABG=. LCACL=.
LCACR=. LCAG=. LCAL=. LCALT=. LCAM=. LCAO=. LCAST=. LCAT=. LCO=0.0060 LCOX=0.0060 LCOXAR=. LCOXDR=0.0060 LCT=0.0150 LCUACU=.
LIF=. LIFR=0.0000 LLOML=. LLOO=. LLOT=. LO=0.0000 LOXDR=0.0000 LRV=. LS=. LSE=0.0000 LT=0.0150 MIB=0.0000 MRC1=. MRC2=.
MRC3=. MRC4=. MRC5=. MRCT=. MRCTA=. MSA=0.0000 MSVRV=. MTL=. NAT=. NP=0.0000 NPANL=. NPAORE=. NPARL=. NPAT=. OB=. OPTPRCCA=.
OPTPRCEX=. OPTPRCEY=. OPTPRCGR=. OPTPRCWA=. PPEGT=0.0000 PPENB=. PPENC=. PPENLI=. PPENLS=. PPENME=. PPENNR=. PPENO=.
PPENT=0.0000 PPEVBB=. PPEVEB=0.0000 PPEVO=. PPEVR=. PRC=. PRODV=. PRVT=. PSTK=0.0000 PSTKC=0.0000 PSTKL=0.0000 PSTKN=0.0000
PSTKR=0.0000 PSTKRV=0.0000 PVCL=. PVPL=. PVT=. RADP=. RAGR=. RARI=. RATI=. RCL=. RDP=. RE=-1.2240 REA=0.0000 REAJO=0.0000
RECCO=0.0000 RECD=0.0000 RECT=0.0000 RECTA=0.0000 RECTR=0.0000 RECUB=0.0000 RET=. REUNA=-1.2240 REUNR=. RLL=. RLO=. RLP=.
RLRI=. RLT=. RPAG=. RREPS=. RVBCI=. RVBPI=. RVBTI=. RVDO=. RVDT=. RVEQT=. RVLRV=. RVNO=. RVNT=. RVRI=. RVSI=. RVTI=. RVTXR=.
RVUPI=. RVUTX=. SAA=. SAL=. SBDC=. SC=. SCO=. SECU=. SEQ=-0.0150 SEQO=0.0000 SRT=. SSNP=. STBO=. STIO=. TDSCD=. TDSCE=.
TDSLG=. TDSMM=. TDSNG=. TDSO=. TDSS=. TDST=. TLCF=1.2000 TRANSA=. TSA=. TSO=. TSTK=0.0010 TSTKC=0.0010 TSTKME=. TSTKP=0.0000
TXDB=0.0000 TXDBA=0.0000 TXDBCA=0.0000 TXDBCL=0.0000 TXDITC=0.0000 TXNDB=0.0000 TXNDBA=0.0000 TXNDBL=0.0000 TXNDBR=0.0000
TXP=0.0000 TXR=0.0000 UAOX=. UAPT=. UCAPS=. UCCONS=. UCEQ=. UCUSTAD=. UDCOPRES=. UDD=. UDMB=. UDOLT=. UDPCO=. UI=. UINVT=.
ULCM=. ULCO=. UNL=. UNNP=. UNNPL=. UOPRES=. UPMCSTK=. UPMPF=. UPMPFS=. UPMSUBP=. UPSTK=. UPSTKC=. UPSTKSF=. URECT=. URECTR=.
UREVUB=. USUBPSTK=. VPAC=. VPO=. WCAP=-0.0150 XACC=. XPP=0.0000 ACCHG=0.0000 ADPAC=. AM=0.0000 AMDC=. AMGW=. AQA=. AQD=.
AQEPS=. AQI=0.0000 AQP=. AQS=0.0000 ARCE=. ARCED=. ARCEEPS=. AUTXR=. BALR=. BANLR=. BATR=. BCEF=. BCLR=. BCLTBL=. BCNLR=.
BCRBL=. BCT=. BCTBL=. BCTR=. BLTBL=. CBI=. CDPAC=. CFBD=. CFERE=. CFO=. CFPDO=. CGA=. CGRI=. CGTI=. CGUI=. CIBEGNI=-0.0270
CICURR=0.0000 CIDERGL=0.0000 CIOTHER=0.0000 CIPEN=0.0000 CISECGL=0.0000 CITOTAL=-0.0270 CNLTBL=. COGS=0.0000 CPCBL=. CPDOI=.
CPNLI=. CPPBL=. CPREI=. CSTKE=0.0000 DBI=. DFXA=. DILADJ=0.0000 DILAVX=-0.0270 DO=0.0000 DONR=0.0000 DP=0.0000 DPRET=. DTEA=.
DTED=. DTEEPS=. DTEP=. DVC=0.0000 DVDNP=. DVP=0.0000 DVPD=. DVPDP=. DVRPIV=. DVRRE=. DVSCO=. DVT=0.0000 EBIT=-0.0270
EBITDA=-0.0270 EIEA=. EMOL=. EPSFI=-0.0500 EPSFX=-0.0500 EPSPI=-0.0500 EPSPX=-0.0500 ESUB=0.0000 FATD=. FCA=. FFO=. GBBL=.
GDWLAM=. GDWLIA=. GDWLID=. GDWLIEPS=. GDWLIP=. GLA=. GLCEA=. GLCED=. GLCEEPS=. GLCEP=. GLD=. GLEPS=. GLP=. GP=0.0000 GPHBL=.
GPLBL=. GPOBL=. GPRBL=. GPTBL=. GWO=. HEDGEGL=. IB=-0.0270 IBADJ=-0.0270 IBBL=. IBCOM=-0.0270 IBKI=. IDIIS=. IDILB=. IDILC=.
IDIS=. IDIST=. IDIT=0.0000 IDITS=. IIRE=. INITB=. INTC=0.0000 IOBD=. IOI=. IORE=. IPABL=. IPHBL=. IPLBL=. IPOBL=. IPTBL=.
IPTI=. IREI=. IRENT=. IRII=. IRLI=. IRNLI=. IRSI=. ISGR=. ISGT=. ISGU=. ITCI=0.0000 IVI=. LI=. LLRCI=. LLRCR=. LLWOCI=.
LLWOCR=. LST=. MII=0.0000 NCO=. NFSR=. NI=-0.0270 NIADJ=-0.0270 NIECI=. NIINT=. NIIT=. NIM=. NIO=. NIT=. NITS=. NOPI=0.0000
NOPIO=0.0000 NRTXT=. NRTXTD=. NRTXTEPS=. OIADP=-0.0270 OIBDP=-0.0270 OPEPS=-0.0500 OPILI=. OPINCAR=. OPINI=. OPIOI=. OPIRI=.
OPITI=. OPREPSX=-0.0500 PALR=. PANLR=. PATR=. PCL=. PCLR=. PCNLR=. PCTR=. PI=-0.0270 PIDOM=. PIFO=. PLL=. PLTBL=. PNCA=0.0000
PNCAD=0.0000 PNCAEPS=0.0000 PNCIA=0.0000 PNCID=0.0000 PNCIEPS=0.0000 PNCIP=0.0000 PNCWIA=0.0000 PNCWID=0.0000 PNCWIEPS=0.0000
PNCWIP=0.0000 PNLBL=. PNLI=. POBL=. PPCBL=. PPPABL=. PPPHBL=. PPPOBL=. PPPTBL=. PRCA=0.0000 PRCAD=0.0000 PRCAEPS=0.0000
PREBL=. PRI=. PTBL=. PTRAN=. PVO=. PVON=. PWOI=. RCA=. RCD=. RCEPS=. RCP=. RDIP=0.0000 RDIPA=0.0000 RDIPD=0.0000
RDIPEPS=0.0000 REVT=0.0000 RIS=. RMUM=. RRA=. RRD=. RRP=. SALE=0.0000 SETA=. SETD=. SETEPS=. SETP=. SPCE=-0.0270
SPCED=-0.0500 SPCEEPS=-0.0500 SPI=0.0000 SPID=. SPIEPS=. SPIOA=. SPIOP=. SRET=. STKCO=. STKCPA=. TDSG=. TF=. TIE=. TII=.
TXC=0.0000 TXDFED=0.0000 TXDFO=0.0000 TXDI=0.0000 TXDS=0.0000 TXEQA=. TXEQII=. TXFED=0.0000 TXFO=0.0000 TXO=0.0000 TXS=0.0000
TXT=0.0000 TXVA=. TXW=0.0000 UDPFA=. UDVP=. UGI=. UNIAMI=. UNOPINC=. UOPI=. UPDVP=. USPI=. USUBDVP=. UTME=. UTXFED=. UXINST=.
UXINTD=. WDA=. WDD=. WDEPS=. WDP=. XAD=. XAGO=. XAGT=. XCOM=. XCOMI=. XDEPL=. XDP=. XDVRE=. XEQO=. XI=0.0000 XIDO=0.0000
XINDB=. XINDC=. XINS=. XINST=. XINT=0.0000 XINTD=0.0000 XINTOPT=. XIVI=. XIVRE=. XLR=. XNBI=. XNF=. XNINS=. XNITB=. XOBD=.
XOI=. XOPR=0.0270 XOPRAR=. XOPTD=. XOPTEPS=. XORE=. XPR=0.0000 XRD=. XRENT=. XS=. XSGA=0.0270 XSTF=. XSTFO=. XSTFWS=. XT=.
XUW=. XUWLI=. XUWNLI=. XUWOI=. XUWREI=. XUWTI=. AFUDCC=. AFUDCI=. AMC=. AOLOCH=0.0210 APALCH=0.0060 AQC=0.0000 CAPX=0.0000
CAPXV=0.0000 CDVC=. CHECH=0.0000 DEPC=. DLCCH=0.0000 DLTIS=0.0000 DLTR=0.0000 DPC=0.0000 DV=0.0000 ESUBC=0.0000 EXRE=0.0000
FIAO=0.0000 FINCF=0.0000 FOPO=0.0000 FOPOX=0.0000 FOPT=. FSRCO=. FSRCT=. FUSEO=. FUSET=. IBC=-0.0270 INTPN=. INVCH=0.0000
ITCC=. IVACO=0.0000 IVCH=0.0000 IVNCF=0.0000 IVSTCH=0.0000 OANCF=0.0000 PDVC=. PRSTKC=0.0000 PRSTKCC=. PRSTKPC=. RECCH=0.0000
SCSTKC=. SIV=0.0000 SPPE=0.0000 SPPIV=0.0000 SPSTKC=. SSTK=0.0000 TDC=. TSAFC=. TXACH=0.0000 TXBCO=0.0000 TXBCOF=0.0000
TXDC=0.0000 TXPD=. UAOLOCH=. UDFCC=. UFRETSD=. UNWCC=. UOIS=. USTDNC=. UTFDOC=. UTFOSC=. UWKCAPC=. WCAPC=. WCAPCH=.
XIDOC=0.0000 CSHO=0.5550 CSHPRI=0.5550 EMP=0.0000 MKVALT=2.2200 PRCC_C=0.3600 PRCC_F=4.0000 CONSOL=C INDFMT=INDL DATAFMT=STD
POPsrc=D CURCD=USD COSTAT=A YEAR=1993 AAER=1 d_CA=0 d_CL=0.011 d_Cash=0 d_STD=0 lag_AT=0 TA=. _ERROR_=1 _N_=940
NOTE: Division by zero detected at line 122 column 39.
GVKEY=001681 DATADATE=20081231 FYEAR=2008 TIC=ASOE GGROUP=1510 GIND=151040 GSECTOR=15 NAICS=331410 SIC=3330
CONM=APOLLO SOLAR ENERGY INC CUSIP=037637105 CIK=0000819479 EXCHG=19 FYR=12 FIC=USA ACCO=. ACDO=0.0000 ACO=0.9250
ACODO=0.9250 ACOMINC=1.2990 ACOX=0.9250 ACOXAR=. ACT=16.5700 AEDI=. ALDO=0.0000 AO=0.0000 AOCIDERGL=0.0000 AOCIOTHER=0.0000
AOCIPEN=0.0000 AOCISECGL=0.0000 AODO=0.0000 AOX=0.0000 AP=0.8760 APB=. APC=. APOFS=. ARB=. ARC=. ARTFS=. AT=36.1200 BAST=.
BKVLPS=0.4109 CA=. CAPS=17.3470 CB=. CEQ=18.3080 CEQL=18.3080 CEQT=18.3080 CH=4.8740 CHE=4.8740 CHS=. CLD2=0.0000 CLD3=0.0000
CLD4=0.0000 CLD5=0.0000 CLFC=. CLFX=. CLG=. CLIS=. CLL=. CLLC=. CLO=. CLRLL=. CLT=. CMP=. CRV=. CRVNLI=. CSTK=0.0450
DC=0.0000 DCLO=0.0000 DCOM=0.0000 DCPSTK=0.0000 DCS=. DCVSR=0.0000 DCVSUB=0.0000 DCVT=0.0000 DD=0.0000 DD1=0.0000 DD2=4.3970
DD3=0.0000 DD4=0.0000 DD5=0.0000 DFPAC=. DFS=0.0000 DLC=0.0000 DLTO=0.0000 DLTP=0.0000 DLTSUB=. DLTT=4.3970 DM=0.0000
DN=4.3970 DPACB=. DPACC=. DPACLI=. DPACLS=. DPACME=. DPACNR=. DPACO=. DPACRE=. DPACT=1.2540 DPDC=. DPLTB=. DPSC=. DPSTB=.
DPTB=. DPTC=. DPTIC=. DPVIEB=1.2540 DPVIO=. DPVIR=. DRC=0.0000 DRCI=. DRLT=0.0000 DS=0.0000 DUDD=0.0000 DVPA=0.0000 DVPIBB=.
DXD2=4.3970 DXD3=0.0000 DXD4=0.0000 DXD5=0.0000 EA=. ESOPCT=0.0000 ESOPDLT=0.0000 ESOPNR=0.0000 ESOPR=0.0000 ESOPT=0.0000
EXCADJ=. FATB=13.3490 FATC=2.6310 FATE=4.1810 FATL=0.0000 FATN=0.0000 FATO=0.6430 FATP=0.0000 FDFR=. FEA=. FEL=. FFS=.
GDWL=0.0000 GEQRV=. GOVGR=. IAEQ=. IAEQCI=. IAEQMI=. IAFICI=. IAFXI=. IAFXMI=. IALI=. IALOI=. IALTI=. IAMLI=. IAOI=. IAPLI=.
IAREI=. IASCI=. IASMI=. IASSI=. IASTI=. IATCI=. IATI=. IATMI=. IAUI=. ICAPT=22.7050 INTAN=0.0000 INTANO=0.0000 INVFG=2.0650
INVO=0.0000 INVOFS=. INVREH=. INVREI=. INVRES=. INVRM=4.3510 INVT=7.4960 INVWIP=1.0800 IP=. IPC=. IPV=. ISEQ=. ISEQC=.
ISEQM=. ISFI=. ISFXC=. ISFXM=. ISLG=. ISLGC=. ISLGM=. ISLT=. ISNG=. ISNGC=. ISNGM=. ISOTC=. ISOTH=. ISOTM=. ISSC=. ISSM=.
ISSU=. IST=. ISTC=. ISTM=. ISUT=. ITCB=0.0000 IVAEQ=0.0000 IVAO=0.0000 IVGOD=. IVPT=. IVST=0.0000 LCABG=. LCACL=. LCACR=.
LCAG=. LCAL=. LCALT=. LCAM=. LCAO=. LCAST=. LCAT=. LCO=12.4540 LCOX=11.5800 LCOXAR=. LCOXDR=11.5800 LCT=13.4150 LCUACU=.
LIF=. LIFR=0.0000 LLOML=. LLOO=. LLOT=. LO=0.0000 LOXDR=0.0000 LRV=. LS=. LSE=36.1200 LT=17.8120 MIB=0.0000 MRC1=. MRC2=.
MRC3=. MRC4=. MRC5=. MRCT=. MRCTA=. MSA=0.0000 MSVRV=. MTL=. NAT=. NP=0.0000 NPANL=. NPAORE=. NPARL=. NPAT=. OB=. OPTPRCCA=.
OPTPRCEX=. OPTPRCEY=. OPTPRCGR=. OPTPRCWA=. PPEGT=20.8040 PPENB=. PPENC=. PPENLI=. PPENLS=. PPENME=. PPENNR=. PPENO=.
PPENT=19.5500 PPEVBB=. PPEVEB=20.8040 PPEVO=. PPEVR=. PRC=. PRODV=. PRVT=. PSTK=0.0000 PSTKC=0.0000 PSTKL=0.0000 PSTKN=0.0000
PSTKR=0.0000 PSTKRV=0.0000 PVCL=. PVPL=. PVT=. RADP=. RAGR=. RARI=. RATI=. RCL=. RDP=. RE=0.9160 REA=. REAJO=0.0000
RECCO=2.8070 RECD=0.0150 RECT=3.2750 RECTA=1.2990 RECTR=0.4680 RECUB=. RET=. REUNA=-0.3830 REUNR=. RLL=. RLO=. RLP=. RLRI=.
RLT=. RPAG=. RREPS=. RVBCI=. RVBPI=. RVBTI=. RVDO=. RVDT=. RVEQT=. RVLRV=. RVNO=. RVNT=. RVRI=. RVSI=. RVTI=. RVTXR=. RVUPI=.
RVUTX=. SAA=. SAL=. SBDC=. SC=. SCO=. SECU=. SEQ=18.3080 SEQO=0.0000 SRT=. SSNP=. STBO=. STIO=. TDSCD=. TDSCE=. TDSLG=.
TDSMM=. TDSNG=. TDSO=. TDSS=. TDST=. TLCF=. TRANSA=. TSA=. TSO=. TSTK=0.0000 TSTKC=0.0000 TSTKME=. TSTKP=0.0000 TXDB=0.0000
TXDBA=0.0000 TXDBCA=0.0260 TXDBCL=0.0000 TXDITC=0.0000 TXNDB=0.0260 TXNDBA=0.0410 TXNDBL=0.0150 TXNDBR=0.0000 TXP=0.0850
TXR=0.0000 UAOX=. UAPT=. UCAPS=. UCCONS=. UCEQ=. UCUSTAD=. UDCOPRES=. UDD=. UDMB=. UDOLT=. UDPCO=. UI=. UINVT=. ULCM=. ULCO=.
UNL=. UNNP=. UNNPL=. UOPRES=. UPMCSTK=. UPMPF=. UPMPFS=. UPMSUBP=. UPSTK=. UPSTKC=. UPSTKSF=. URECT=. URECTR=. UREVUB=.
USUBPSTK=. VPAC=. VPO=. WCAP=3.1550 XACC=0.8740 XPP=. ACCHG=0.0000 ADPAC=. AM=0.0000 AMDC=. AMGW=. AQA=. AQD=. AQEPS=. AQI=.
AQP=. AQS=. ARCE=. ARCED=. ARCEEPS=. AUTXR=. BALR=. BANLR=. BATR=. BCEF=. BCLR=. BCLTBL=. BCNLR=. BCRBL=. BCT=. BCTBL=.
BCTR=. BLTBL=. CBI=. CDPAC=. CFBD=. CFERE=. CFO=. CFPDO=. CGA=. CGRI=. CGTI=. CGUI=. CIBEGNI=0.0190 CICURR=1.0930
CIDERGL=0.0000 CIOTHER=0.0000 CIPEN=0.0000 CISECGL=0.0000 CITOTAL=1.1120 CNLTBL=. COGS=4.6920 CPCBL=. CPDOI=. CPNLI=. CPPBL=.
CPREI=. CSTKE=0.0000 DBI=. DFXA=. DILADJ=0.0000 DILAVX=0.0190 DO=0.0000 DONR=0.0000 DP=0.4580 DPRET=. DTEA=. DTED=. DTEEPS=.
DTEP=. DVC=0.0000 DVDNP=. DVP=0.0000 DVPD=. DVPDP=. DVRPIV=. DVRRE=. DVSCO=. DVT=0.0000 EBIT=0.2890 EBITDA=0.7470 EIEA=.
EMOL=. EPSFI=0.0000 EPSFX=0.0000 EPSPI=0.0000 EPSPX=0.0000 ESUB=0.0000 FATD=. FCA=. FFO=. GBBL=. GDWLAM=. GDWLIA=. GDWLID=.
GDWLIEPS=. GDWLIP=. GLA=. GLCEA=. GLCED=. GLCEEPS=. GLCEP=. GLD=. GLEPS=. GLP=. GP=2.2760 GPHBL=. GPLBL=. GPOBL=. GPRBL=.
GPTBL=. GWO=. HEDGEGL=. IB=0.0190 IBADJ=0.0190 IBBL=. IBCOM=0.0190 IBKI=. IDIIS=. IDILB=. IDILC=. IDIS=. IDIST=. IDIT=0.0000
IDITS=. IIRE=. INITB=. INTC=0.0000 IOBD=. IOI=. IORE=. IPABL=. IPHBL=. IPLBL=. IPOBL=. IPTBL=. IPTI=. IREI=. IRENT=. IRII=.
IRLI=. IRNLI=. IRSI=. ISGR=. ISGT=. ISGU=. ITCI=0.0000 IVI=. LI=. LLRCI=. LLRCR=. LLWOCI=. LLWOCR=. LST=. MII=0.0000 NCO=.
NFSR=. NI=0.0190 NIADJ=0.0190 NIECI=. NIINT=. NIIT=. NIM=. NIO=. NIT=. NITS=. NOPI=0.0000 NOPIO=0.0000 NRTXT=. NRTXTD=.
NRTXTEPS=. OIADP=0.2890 OIBDP=0.7470 OPEPS=0.0000 OPILI=. OPINCAR=. OPINI=. OPIOI=. OPIRI=. OPITI=. OPREPSX=0.0000 PALR=.
PANLR=. PATR=. PCL=. PCLR=. PCNLR=. PCTR=. PI=0.2310 PIDOM=. PIFO=. PLL=. PLTBL=. PNCA=0.0000 PNCAD=0.0000 PNCAEPS=0.0000
PNCIA=0.0000 PNCID=0.0000 PNCIEPS=0.0000 PNCIP=0.0000 PNCWIA=0.0000 PNCWID=0.0000 PNCWIEPS=0.0000 PNCWIP=0.0000 PNLBL=.
PNLI=. POBL=. PPCBL=. PPPABL=. PPPHBL=. PPPOBL=. PPPTBL=. PRCA=0.0000 PRCAD=0.0000 PRCAEPS=0.0000 PREBL=. PRI=. PTBL=.
PTRAN=. PVO=. PVON=. PWOI=. RCA=. RCD=. RCEPS=. RCP=. RDIP=0.0000 RDIPA=0.0000 RDIPD=0.0000 RDIPEPS=0.0000 REVT=6.9680 RIS=.
RMUM=. RRA=. RRD=. RRP=. SALE=6.9680 SETA=. SETD=. SETEPS=. SETP=. SPCE=0.0190 SPCED=0.0000 SPCEEPS=0.0000 SPI=0.0000 SPID=.
SPIEPS=. SPIOA=. SPIOP=. SRET=. STKCO=0.0000 STKCPA=. TDSG=. TF=. TIE=. TII=. TXC=. TXDFED=. TXDFO=. TXDI=-0.0250 TXDS=.
TXEQA=. TXEQII=. TXFED=. TXFO=. TXO=0.0000 TXS=. TXT=0.2120 TXVA=. TXW=0.0000 UDPFA=. UDVP=. UGI=. UNIAMI=. UNOPINC=. UOPI=.
UPDVP=. USPI=. USUBDVP=. UTME=. UTXFED=. UXINST=. UXINTD=. WDA=. WDD=. WDEPS=. WDP=. XAD=. XAGO=. XAGT=. XCOM=. XCOMI=.
XDEPL=. XDP=. XDVRE=. XEQO=. XI=0.0000 XIDO=0.0000 XINDB=. XINDC=. XINS=. XINST=. XINT=0.0580 XINTD=. XINTOPT=0.0000 XIVI=.
XIVRE=. XLR=. XNBI=. XNF=. XNINS=. XNITB=. XOBD=. XOI=. XOPR=6.2210 XOPRAR=. XOPTD=0.0000 XOPTEPS=0.0000 XORE=. XPR=0.0000
XRD=0.0830 XRENT=. XS=. XSGA=1.5290 XSTF=. XSTFO=. XSTFWS=. XT=. XUW=. XUWLI=. XUWNLI=. XUWOI=. XUWREI=. XUWTI=. AFUDCC=.
AFUDCI=. AMC=. AOLOCH=3.4270 APALCH=. AQC=. CAPX=8.9450 CAPXV=8.9450 CDVC=. CHECH=2.2550 DEPC=. DLCCH=0.0000 DLTIS=0.0000
DLTR=0.0000 DPC=0.4580 DV=0.0000 ESUBC=0.0000 EXRE=0.0890 FIAO=13.1250 FINCF=13.1250 FOPO=0.1500 FOPOX=0.1500 FOPT=. FSRCO=.
FSRCT=. FUSEO=. FUSET=. IBC=0.0190 INTPN=. INVCH=-5.1150 ITCC=. IVACO=0.0000 IVCH=0.0000 IVNCF=-8.9450 IVSTCH=0.0000
OANCF=-2.0140 PDVC=. PRSTKC=0.0000 PRSTKCC=. PRSTKPC=. RECCH=-0.9280 SCSTKC=. SIV=0.0000 SPPE=0.0000 SPPIV=0.0000 SPSTKC=.
SSTK=0.0000 TDC=. TSAFC=. TXACH=. TXBCO=0.0000 TXBCOF=0.0000 TXDC=-0.0250 TXPD=0.1610 UAOLOCH=. UDFCC=. UFRETSD=. UNWCC=.
UOIS=. USTDNC=. UTFDOC=. UTFOSC=. UWKCAPC=. WCAPC=. WCAPCH=. XIDOC=0.0000 CSHO=44.5550 CSHPRI=44.5550 EMP=0.2140
MKVALT=311.8850 PRCC_C=7.0000 PRCC_F=7.0000 CONSOL=C INDFMT=INDL DATAFMT=STD POPsrc=D CURCD=USD COSTAT=A YEAR=1996 AAER=1
d_CA=16.57 d_CL=13.4 d_Cash=4.874 d_STD=0 lag_AT=0 TA=. _ERROR_=1 _N_=941
NOTE: Missing values were generated as a result of performing an operation on missing values.
      Each place is given by: (Number of times) at (Line):(Column).
      513 at 117:9    508 at 118:9    74 at 119:10    59 at 120:10    513 at 122:10   15 at 122:17    4 at 122:34
NOTE: Mathematical operations could not be performed at the following places. The results of the operations have been set to
      missing values.
      Each place is given by: (Number of times) at (Line):(Column).
      2 at 122:39
NOTE: There were 2104 observations read from the data set WORK.COMBINED.
NOTE: The data set WORK.TOT_ACCR has 2104 observations and 810 variables.
NOTE: DATA statement used (Total process time):
      real time           0.07 seconds
      cpu time            0.06 seconds


125
126  data mjones;
127  set tot_accr;
128
129  sic2=put(substr(sic,1,2),2.);
130
131  if AT ge 0;
132  if ACT=. then delete;
133
134  run;

NOTE: There were 2104 observations read from the data set WORK.TOT_ACCR.
NOTE: The data set WORK.MJONES has 1627 observations and 811 variables.
NOTE: DATA statement used (Total process time):
      real time           0.02 seconds
      cpu time            0.01 seconds


135  proc sort data=mjones;
136  by gvkey datadate;
137  run;

NOTE: There were 1627 observations read from the data set WORK.MJONES.
NOTE: The data set WORK.MJONES has 1627 observations and 811 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.02 seconds
      cpu time            0.03 seconds


138  data lagged_variables;
139  set mjones;
140
141  lag_Rect=lag(RECT);
142  lag_Revt=lag(REVT);
143  lag_COGS=lag(COGS);
144  lag_ACT=lag(ACT);
145  lag_DP=lag(DP);
146  lag_PPEGT=lag(PPEGT);
147  lag_LCT=lag(LCT);
148  lag_XSGA=lag(XSGA);
149  lag_DLTT=lag(DLTT);
150  lag_CH=lag(CH);
151  lag_TXP=lag(TXP);
152  lag_dlc=lag(dlc);
153
154
155  by gvkey DATADATE;
156  if first.gvkey then delete;
157  KEEP lag_Rect lag_Revt lag_COGS lag_ACT lag_AT lag_DP lag_PPEGT lag_LCT lag_XSGA lag_DLTT gvkey fyear year RECT REVT
157! COGS ACT AT PPEGT LCT XSGA DLTT CIK SIC lag_CH CH lag_TXP TXP DLCCH TA SIC2 lag_dlc dlc d_CA d_CL d_Cash d_STD DP
157! datadate;
158
159  run;

NOTE: There were 1627 observations read from the data set WORK.MJONES.
NOTE: The data set WORK.LAGGED_VARIABLES has 1404 observations and 39 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds


160  data blank_variables;
161  set lagged_variables;
162  if lag_Rect=. then delete;
163  if lag_Revt=. then delete;
164  if lag_COGS=. then delete;
165  if lag_ACT=. then delete;
166  if lag_DP=. then delete;
167  if lag_PPEGT=. then delete;
168  if lag_LCT=. then delete;
169  if lag_XSGA=. then delete;
170  if lag_DLTT=. then delete;
171  if lag_CH=. then delete;
172  if lag_TXP=. then delete;
173  run;

NOTE: There were 1404 observations read from the data set WORK.LAGGED_VARIABLES.
NOTE: The data set WORK.BLANK_VARIABLES has 1171 observations and 39 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds


174  data Beneish_variables;
175  set blank_variables;
176
177  DRSI=(RECT/REVT)/(lag_Rect/lag_Revt);
178  GMI=((lag_Revt-lag_COGS)/lag_Revt)/((REVT-COGS)/REVT);
179  AQI=((1-(ACT+PPEGT))/AT)/((1-(lag_ACT+lag_PPEGT))/lag_AT);
180  SGI=REVT/lag_Revt;
181  DEPI=(lag_DP/(lag_DP+Lag_PPEGT))/(DP/(DP+PPEGT));
182  LVGI=((DLTT+LCT)/AT)/((lag_DLTT+lag_LCT)/lag_AT);
183  SGAI=(XSGA/REVT)/(lag_XSGA/lag_Revt);
184
185  run;

NOTE: Division by zero detected at line 177 column 17.
NOTE: Division by zero detected at line 181 column 13.
GVKEY=001084 DATADATE=20071231 FYEAR=2007 SIC=7370 CIK=0000029850 ACT=0.3370 AT=0.3460 CH=0.2710 DLC=0.7740 DLTT=0.0000
LCT=2.1120 PPEGT=0.0090 RECT=0.0000 TXP=0.0000 COGS=0.0570 DP=0.0000 REVT=0.0050 XSGA=0.5120 DLCCH=. YEAR=1980 d_CA=0.335
d_CL=-2.728 d_Cash=0.269 d_STD=-1.067 lag_AT=0.002 TA=863.5 sic2=73 lag_Rect=0 lag_Revt=0.002 lag_COGS=0.001 lag_ACT=0.002
lag_DP=0 lag_PPEGT=0 lag_LCT=4.84 lag_XSGA=0.051 lag_DLTT=0 lag_CH=0.002 lag_TXP=0 lag_dlc=1.841 DRSI=. GMI=-0.048076923
AQI=0.0037879227 SGI=2.5 DEPI=. LVGI=0.0025223332 SGAI=4.0156862745 _ERROR_=1 _N_=52
NOTE: Division by zero detected at line 177 column 17.
GVKEY=001084 DATADATE=20081231 FYEAR=2008 SIC=7370 CIK=0000029850 ACT=0.1670 AT=0.1740 CH=0.0000 DLC=0.7730 DLTT=0.0000
LCT=3.7120 PPEGT=0.0090 RECT=0.0000 TXP=0.0000 COGS=0.1990 DP=0.0020 REVT=0.0930 XSGA=0.5910 DLCCH=0.0000 YEAR=1981
d_CA=-0.17 d_CL=1.6 d_Cash=-0.271 d_STD=-0.001 lag_AT=0.346 TA=-4.341040462 sic2=73 lag_Rect=0 lag_Revt=0.005 lag_COGS=0.057
lag_ACT=0.337 lag_DP=0 lag_PPEGT=0.009 lag_LCT=2.112 lag_XSGA=0.512 lag_DLTT=0 lag_CH=0.271 lag_TXP=0 lag_dlc=0.774 DRSI=.
GMI=9.1245283019 AQI=2.5053956202 SGI=18.6 DEPI=0 LVGI=3.4949494949 SGAI=0.0620589718 _ERROR_=1 _N_=53
NOTE: Division by zero detected at line 177 column 17.
GVKEY=001084 DATADATE=20091231 FYEAR=2009 SIC=7370 CIK=0000029915 ACT=0.0000 AT=0.0040 CH=0.0000 DLC=0.9530 DLTT=0.0000
LCT=3.8680 PPEGT=0.0110 RECT=0.0000 TXP=0.0000 COGS=0.1610 DP=0.0040 REVT=0.1010 XSGA=0.6580 DLCCH=0.1790 YEAR=1996
d_CA=-0.167 d_CL=0.156 d_Cash=0 d_STD=0.18 lag_AT=0.174 TA=-0.844827586 sic2=73 lag_Rect=0 lag_Revt=0.093 lag_COGS=0.199
lag_ACT=0.167 lag_DP=0.002 lag_PPEGT=0.009 lag_LCT=3.712 lag_XSGA=0.591 lag_DLTT=0 lag_CH=0 lag_TXP=0 lag_dlc=0.773 DRSI=.
GMI=1.9186379928 AQI=52.210558252 SGI=1.0860215054 DEPI=0.6818181818 LVGI=45.328125 SGAI=1.0251796753 _ERROR_=1 _N_=54
NOTE: Division by zero detected at line 177 column 17.
GVKEY=001084 DATADATE=20101231 FYEAR=2010 SIC=7370 CIK=0000029915 ACT=0.4010 AT=0.4020 CH=0.4010 DLC=0.7750 DLTT=0.0000
LCT=3.6540 PPEGT=0.0110 RECT=0.0000 TXP=0.0000 COGS=0.0100 DP=0.0030 REVT=0.4160 XSGA=0.9990 DLCCH=-0.0020 YEAR=1997
d_CA=0.401 d_CL=-0.214 d_Cash=0.401 d_STD=-0.178 lag_AT=0.004 TA=8.25 sic2=73 lag_Rect=0 lag_Revt=0.101 lag_COGS=0.161
lag_ACT=0 lag_DP=0.004 lag_PPEGT=0.011 lag_LCT=3.868 lag_XSGA=0.658 lag_DLTT=0 lag_CH=0 lag_TXP=0 lag_dlc=0.953 DRSI=.
GMI=-0.608691411 AQI=0.0059158203 SGI=4.1188118812 DEPI=1.2444444444 LVGI=0.0093997438 SGAI=0.3686104454 _ERROR_=1 _N_=55
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 48.
NOTE: Division by zero detected at line 183 column 11.
GVKEY=001084 DATADATE=20111231 FYEAR=2011 SIC=7370 CIK=0000029915 ACT=0.2790 AT=0.2790 CH=0.1530 DLC=0.7730 DLTT=0.0000
LCT=3.4380 PPEGT=0.0110 RECT=0.0430 TXP=0.0000 COGS=0.0850 DP=0.0010 REVT=0.0000 XSGA=1.6090 DLCCH=-0.0020 YEAR=1998
d_CA=-0.122 d_CL=-0.216 d_Cash=-0.248 d_STD=-0.002 lag_AT=0.402 TA=0.8432835821 sic2=73 lag_Rect=0 lag_Revt=0.416
lag_COGS=0.01 lag_ACT=0.401 lag_DP=0.003 lag_PPEGT=0.011 lag_LCT=3.654 lag_XSGA=0.999 lag_DLTT=0 lag_CH=0.401 lag_TXP=0
lag_dlc=0.775 DRSI=. GMI=. AQI=1.7398142053 SGI=0 DEPI=2.5714285714 LVGI=1.3556862122 SGAI=. _ERROR_=1 _N_=56
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 181 column 33.
NOTE: Division by zero detected at line 183 column 11.
GVKEY=001084 DATADATE=20121231 FYEAR=2012 SIC=7370 CIK=0000029915 ACT=0.2300 AT=0.2370 CH=0.0950 DLC=0.7730 DLTT=0.0000
LCT=3.5250 PPEGT=0.0110 RECT=0.1350 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=1.6640 DLCCH=0.0000 YEAR=1999
d_CA=-0.049 d_CL=0.087 d_Cash=-0.058 d_STD=0 lag_AT=0.279 TA=-0.279569892 sic2=73 lag_Rect=0.043 lag_Revt=0 lag_COGS=0.085
lag_ACT=0.279 lag_DP=0.001 lag_PPEGT=0.011 lag_LCT=3.438 lag_XSGA=1.609 lag_DLTT=0 lag_CH=0.153 lag_TXP=0 lag_dlc=0.773
DRSI=. GMI=. AQI=1.2584596185 SGI=. DEPI=. LVGI=1.2070051031 SGAI=. _ERROR_=1 _N_=57
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 181 column 37.
NOTE: Division by zero detected at line 183 column 11.
GVKEY=001084 DATADATE=20131231 FYEAR=2013 SIC=7370 CIK=0000029915 ACT=0.3210 AT=0.3280 CH=0.0220 DLC=1.1160 DLTT=0.0000
LCT=4.3300 PPEGT=0.0000 RECT=0.2990 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=3.9700 DLCCH=0.8000 YEAR=2000
d_CA=0.091 d_CL=0.805 d_Cash=-0.073 d_STD=0.343 lag_AT=0.237 TA=-1.257383966 sic2=73 lag_Rect=0.135 lag_Revt=0 lag_COGS=0
lag_ACT=0.23 lag_DP=0 lag_PPEGT=0.011 lag_LCT=3.525 lag_XSGA=1.664 lag_DLTT=0 lag_CH=0.095 lag_TXP=0 lag_dlc=0.773 DRSI=.
GMI=. AQI=0.646401716 SGI=. DEPI=. LVGI=0.8875713544 SGAI=. _ERROR_=1 _N_=58
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 181 column 13.
NOTE: Division by zero detected at line 183 column 11.
GVKEY=001084 DATADATE=20141231 FYEAR=2014 SIC=7370 CIK=0000029915 ACT=0.0280 AT=0.0280 CH=0.0280 DLC=1.1100 DLTT=0.0000
LCT=4.6320 PPEGT=0.0000 RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=0.8160 DLCCH=0.1000 YEAR=2001
d_CA=-0.293 d_CL=0.302 d_Cash=0.006 d_STD=-0.006 lag_AT=0.328 TA=-1.850609756 sic2=73 lag_Rect=0.299 lag_Revt=0 lag_COGS=0
lag_ACT=0.321 lag_DP=0 lag_PPEGT=0 lag_LCT=4.33 lag_XSGA=3.97 lag_DLTT=0 lag_CH=0.022 lag_TXP=0 lag_dlc=1.116 DRSI=. GMI=.
AQI=16.769198401 SGI=. DEPI=. LVGI=12.531309799 SGAI=. _ERROR_=1 _N_=59
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 181 column 13.
NOTE: Division by zero detected at line 183 column 11.
GVKEY=001084 DATADATE=20151231 FYEAR=2015 SIC=7370 CIK=0000030780 ACT=0.0260 AT=0.0260 CH=0.0260 DLC=1.5830 DLTT=0.0000
LCT=5.1680 PPEGT=0.0000 RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=0.7690 DLCCH=0.4790 YEAR=1994
d_CA=-0.002 d_CL=0.536 d_Cash=-0.002 d_STD=0.473 lag_AT=0.028 TA=-2.25 sic2=73 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=0.028
lag_DP=0 lag_PPEGT=0 lag_LCT=4.632 lag_XSGA=0.816 lag_DLTT=0 lag_CH=0.028 lag_TXP=0 lag_dlc=1.11 DRSI=. GMI=. AQI=1.079138968
SGI=. DEPI=. LVGI=1.2015411186 SGAI=. _ERROR_=1 _N_=60
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 48.
NOTE: Division by zero detected at line 183 column 11.
GVKEY=001228 DATADATE=20110630 FYEAR=2011 SIC=4950 CIK=0000084112 ACT=7.6090 AT=7.6160 CH=0.7830 DLC=0.0280 DLTT=0.0000
LCT=0.5810 PPEGT=0.1360 RECT=0.1500 TXP=0.0000 COGS=0.0000 DP=0.0010 REVT=0.0000 XSGA=1.3800 DLCCH=. YEAR=1984 d_CA=0.866
d_CL=-9.551 d_Cash=0.382 d_STD=-6.319 lag_AT=20.496 TA=0.181254879 sic2=49 lag_Rect=2.493 lag_Revt=14.632 lag_COGS=8.664
lag_ACT=6.743 lag_DP=0.535 lag_PPEGT=0.691 lag_LCT=10.132 lag_XSGA=7.126 lag_DLTT=0.005 lag_CH=0.401 lag_TXP=0 lag_dlc=6.347
DRSI=. GMI=. AQI=2.8212597597 SGI=0 DEPI=59.783849918 LVGI=0.1542442073 SGAI=. _ERROR_=1 _N_=161
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 183 column 11.
GVKEY=001228 DATADATE=20120630 FYEAR=2012 SIC=4950 CIK=0000084112 ACT=4.3830 AT=8.1080 CH=0.2840 DLC=0.2280 DLTT=0.0000
LCT=0.9090 PPEGT=3.5680 RECT=0.2670 TXP=0.0000 COGS=0.0000 DP=0.0030 REVT=0.0000 XSGA=1.0460 DLCCH=-0.8000 YEAR=1985
d_CA=-3.226 d_CL=0.328 d_Cash=-0.499 d_STD=0.2 lag_AT=7.616 TA=-0.375262605 sic2=49 lag_Rect=0.15 lag_Revt=0 lag_COGS=0
lag_ACT=7.609 lag_DP=0.001 lag_PPEGT=0.136 lag_LCT=0.581 lag_XSGA=1.38 lag_DLTT=0 lag_CH=0.783 lag_TXP=0 lag_dlc=0.028 DRSI=.
GMI=. AQI=0.9680070713 SGI=. DEPI=8.6885644769 LVGI=1.4696061008 SGAI=. _ERROR_=1 _N_=162
NOTE: Division by zero detected at line 177 column 27.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 183 column 27.
GVKEY=001228 DATADATE=20130630 FYEAR=2013 SIC=4950 CIK=0000084112 ACT=2.7970 AT=7.2170 CH=0.6960 DLC=0.0000 DLTT=0.0000
LCT=0.2710 PPEGT=4.5300 RECT=0.4170 TXP=0.0000 COGS=0.2180 DP=0.1840 REVT=0.3910 XSGA=1.5330 DLCCH=-0.2280 YEAR=1982
d_CA=-1.586 d_CL=-0.638 d_Cash=0.412 d_STD=-0.228 lag_AT=8.108 TA=-0.218549581 sic2=49 lag_Rect=0.267 lag_Revt=0 lag_COGS=0
lag_ACT=4.383 lag_DP=0.003 lag_PPEGT=3.568 lag_LCT=0.909 lag_XSGA=1.046 lag_DLTT=0 lag_CH=0.284 lag_TXP=0 lag_dlc=0.228
DRSI=. GMI=. AQI=1.0226042202 SGI=. DEPI=0.0215230175 LVGI=0.3349364727 SGAI=. _ERROR_=1 _N_=163
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 183 column 11.
GVKEY=001259 DATADATE=20080731 FYEAR=2008 SIC=2836 CIK=0000101788 ACT=4.8270 AT=5.3200 CH=4.6620 DLC=0.0030 DLTT=0.0170
LCT=2.8800 PPEGT=0.4850 RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0510 REVT=0.0000 XSGA=14.2490 DLCCH=. YEAR=1979 d_CA=-2.291
d_CL=1.05 d_Cash=-2.306 d_STD=0.003 lag_AT=7.82 TA=-0.138491049 sic2=28 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=7.118
lag_DP=0.039 lag_PPEGT=0.427 lag_LCT=1.83 lag_XSGA=9.597 lag_DLTT=0 lag_CH=6.968 lag_TXP=0 lag_dlc=0 DRSI=. GMI=.
AQI=0.9684210526 SGI=. DEPI=0.8795758647 LVGI=2.3269793336 SGAI=. _ERROR_=1 _N_=197
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 183 column 11.
GVKEY=001259 DATADATE=20090731 FYEAR=2009 SIC=2836 CIK=0000101788 ACT=0.1840 AT=0.5570 CH=0.1290 DLC=0.0040 DLTT=0.0130
LCT=1.4320 PPEGT=0.4850 RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0350 REVT=0.0000 XSGA=5.6640 DLCCH=. YEAR=1980 d_CA=-4.643
d_CL=-1.448 d_Cash=-4.533 d_STD=0.001 lag_AT=5.32 TA=0.245112782 sic2=28 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=4.827
lag_DP=0.051 lag_PPEGT=0.485 lag_LCT=2.88 lag_XSGA=14.249 lag_DLTT=0.017 lag_CH=4.662 lag_TXP=0 lag_dlc=0.003 DRSI=. GMI=.
AQI=-0.733171676 SGI=. DEPI=1.4136460554 LVGI=4.7640442754 SGAI=. _ERROR_=1 _N_=198
NOTE: Division by zero detected at line 177 column 27.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 183 column 27.
GVKEY=001259 DATADATE=20100731 FYEAR=2010 SIC=2836 CIK=0000101788 ACT=2.0270 AT=2.2420 CH=0.3210 DLC=0.0050 DLTT=0.8440
LCT=16.9990 PPEGT=0.4110 RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0780 REVT=0.0190 XSGA=2.1430 DLCCH=. YEAR=1981 d_CA=1.843
d_CL=15.567 d_Cash=0.192 d_STD=0.001 lag_AT=0.557 TA=-25.12208259 sic2=28 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=0.184
lag_DP=0.035 lag_PPEGT=0.485 lag_LCT=1.432 lag_XSGA=5.664 lag_DLTT=0.013 lag_CH=0.129 lag_TXP=0 lag_dlc=0.004 DRSI=. GMI=.
AQI=-1.079320632 SGI=. DEPI=0.4219674556 LVGI=3.0677475314 SGAI=. _ERROR_=1 _N_=199
NOTE: Division by zero detected at line 177 column 17.
GVKEY=001259 DATADATE=20110731 FYEAR=2011 SIC=2836 CIK=0000102379 ACT=0.3990 AT=0.5220 CH=0.3540 DLC=0.0000 DLTT=1.9090
LCT=5.7480 PPEGT=0.3870 RECT=0.0000 TXP=0.0000 COGS=0.5890 DP=0.0250 REVT=5.2000 XSGA=. DLCCH=. YEAR=1987 d_CA=-1.628
d_CL=-11.251 d_Cash=0.033 d_STD=-0.005 lag_AT=2.242 TA=4.2640499554 sic2=28 lag_Rect=0 lag_Revt=0.019 lag_COGS=0
lag_ACT=2.027 lag_DP=0.078 lag_PPEGT=0.411 lag_LCT=16.999 lag_XSGA=2.143 lag_DLTT=0.844 lag_CH=0.321 lag_TXP=0 lag_dlc=0.005
DRSI=. GMI=1.1277380178 AQI=-0.639175313 SGI=273.68421053 DEPI=2.6287116564 LVGI=1.8431296131 SGAI=. _ERROR_=1 _N_=200
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 181 column 33.
NOTE: Division by zero detected at line 183 column 11.
GVKEY=001367 DATADATE=20071231 FYEAR=2007 SIC=9995 CIK=0000320193 ACT=0.0000 AT=5.0070 CH=0.0000 DLC=0.0000 DLTT=0.0000
LCT=0.2200 PPEGT=5.0070 RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=0.1030 DLCCH=0.0000 YEAR=2002 d_CA=0
d_CL=0.102 d_Cash=0 d_STD=0 lag_AT=5.007 TA=-0.02037148 sic2=99 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=0 lag_DP=0
lag_PPEGT=5.007 lag_LCT=0.118 lag_XSGA=0.107 lag_DLTT=0 lag_CH=0 lag_TXP=0 lag_dlc=0 DRSI=. GMI=. AQI=1 SGI=. DEPI=.
LVGI=1.8644067797 SGAI=. _ERROR_=1 _N_=256
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 183 column 11.
GVKEY=001367 DATADATE=20081231 FYEAR=2008 SIC=9995 CIK=0000320568 ACT=0.0000 AT=1.4960 CH=0.0000 DLC=0.0000 DLTT=0.0000
LCT=0.3310 PPEGT=1.4960 RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=3.5110 REVT=0.0000 XSGA=0.1100 DLCCH=0.0000 YEAR=1985 d_CA=0
d_CL=0.111 d_Cash=0 d_STD=0 lag_AT=5.007 TA=-0.723387258 sic2=99 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=0 lag_DP=0
lag_PPEGT=5.007 lag_LCT=0.22 lag_XSGA=0.103 lag_DLTT=0 lag_CH=0 lag_TXP=0 lag_dlc=0 DRSI=. GMI=. AQI=0.4142937026 SGI=.
DEPI=0 LVGI=5.0356009966 SGAI=. _ERROR_=1 _N_=257
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 181 column 37.
NOTE: Division by zero detected at line 183 column 11.
GVKEY=001367 DATADATE=20091231 FYEAR=2009 SIC=9995 CIK=0000320568 ACT=1.0700 AT=1.0700 CH=1.0700 DLC=0.0000 DLTT=0.0000
LCT=0.0090 PPEGT=0.0000 RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=0.1050 DLCCH=0.0000 YEAR=1986 d_CA=1.07
d_CL=-0.322 d_Cash=1.07 d_STD=0 lag_AT=1.496 TA=0.2152406417 sic2=99 lag_Rect=0 lag_Revt=0 lag_COGS=0 lag_ACT=0 lag_DP=3.511
lag_PPEGT=1.496 lag_LCT=0.331 lag_XSGA=0.11 lag_DLTT=0 lag_CH=0 lag_TXP=0 lag_dlc=0 DRSI=. GMI=. AQI=0.1973168526 SGI=.
DEPI=. LVGI=0.0380156422 SGAI=. _ERROR_=1 _N_=258
NOTE: Division by zero detected at line 177 column 11.
NOTE: Division by zero detected at line 178 column 25.
NOTE: Division by zero detected at line 180 column 9.
NOTE: Division by zero detected at line 181 column 13.
NOTE: Division by zero detected at line 183 column 11.
WARNING: Limit set by ERRORS= option reached.  Further errors of this type will not be printed.
GVKEY=001367 DATADATE=20101231 FYEAR=2010 SIC=9995 CIK=0000320573 ACT=0.9760 AT=0.9760 CH=0.9760 DLC=0.0000 DLTT=0.0000
LCT=0.0120 PPEGT=0.0000 RECT=0.0000 TXP=0.0000 COGS=0.0000 DP=0.0000 REVT=0.0000 XSGA=0.1020 DLCCH=0.0000 YEAR=1996
d_CA=-0.094 d_CL=0.003 d_Cash=-0.094 d_STD=0 lag_AT=1.07 TA=-0.002803738 sic2=99 lag_Rect=0 lag_Revt=0 lag_COGS=0
lag_ACT=1.07 lag_DP=0 lag_PPEGT=0 lag_LCT=0.009 lag_XSGA=0.105 lag_DLTT=0 lag_CH=1.07 lag_TXP=0 lag_dlc=0 DRSI=. GMI=.
AQI=-0.37587822 SGI=. DEPI=. LVGI=1.4617486339 SGAI=. _ERROR_=1 _N_=259
NOTE: Missing values were generated as a result of performing an operation on missing values.
      Each place is given by: (Number of times) at (Line):(Column).
      8 at 177:11    8 at 178:42    4 at 179:13    3 at 179:50    6 at 181:41    1 at 182:12    3 at 182:41    14 at 183:11
NOTE: Mathematical operations could not be performed at the following places. The results of the operations have been set to
      missing values.
      Each place is given by: (Number of times) at (Line):(Column).
      26 at 177:11   11 at 177:17   4 at 177:27    23 at 178:25   7 at 178:48    1 at 179:21    1 at 179:50    23 at 180:9
      14 at 181:13   6 at 181:33    2 at 181:37    1 at 182:17    1 at 182:41    26 at 183:11   4 at 183:27
NOTE: There were 1171 observations read from the data set WORK.BLANK_VARIABLES.
NOTE: The data set WORK.BENEISH_VARIABLES has 1171 observations and 46 variables.
NOTE: DATA statement used (Total process time):
      real time           0.02 seconds
      cpu time            0.03 seconds


186  data Creating_key;
187  set Beneish_variables;
188  key =cats(fyear,SIC2);
189  if CIK =. then delete;
190
191  Run;

NOTE: Character values have been converted to numeric values at the places given by: (Line):(Column).
      189:4
NOTE: There were 1171 observations read from the data set WORK.BENEISH_VARIABLES.
NOTE: The data set WORK.CREATING_KEY has 1171 observations and 47 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds


192  proc sort data= creating_key; by gvkey datadate; run;

NOTE: There were 1171 observations read from the data set WORK.CREATING_KEY.
NOTE: The data set WORK.CREATING_KEY has 1171 observations and 47 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds


193  proc sql;
194  create table beneish_m as select
195  creating_key.*, aaer_combined.*
196  from work.creating_key as a LEFT JOIN fsa.aaer_combined as b
197  on a.cik=b.cik
198  and a.fyear=b.year;
WARNING: Variable CIK already exists on file WORK.BENEISH_M.
WARNING: Variable YEAR already exists on file WORK.BENEISH_M.
NOTE: Table WORK.BENEISH_M created, with 1171 rows and 48 columns.

199  run;
NOTE: PROC SQL statements are executed immediately; The RUN statement has no effect.
200  quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           0.05 seconds
      cpu time            0.04 seconds


201  proc sort data=beneish_m; by gvkey datadate; run;

NOTE: There were 1171 observations read from the data set WORK.BENEISH_M.
NOTE: The data set WORK.BENEISH_M has 1171 observations and 48 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds



202  proc sort data=beneish_index nodup; by key; run;

NOTE: Input data set is already sorted, no sorting done.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds


203  proc sql;
204  create table merge_back as select
205  beneish_index.*, beneish_m.*
206  from work.beneish_m as a LEFT JOIN work.beneish_index as b
207  on a.key=b.key;
WARNING: Variable key already exists on file WORK.MERGE_BACK.
NOTE: Table WORK.MERGE_BACK created, with 1171 rows and 48 columns.

208
209  run;
NOTE: PROC SQL statements are executed immediately; The RUN statement has no effect.
210  quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           0.04 seconds
      cpu time            0.03 seconds


211  proc sort data=beneish_index nodup; by key; run;

NOTE: Input data set is already sorted, no sorting done.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds


212  proc sql;
213  create table merge_back as select
214  beneish_index.*, beneish_m.*
215  from work.beneish_index as a LEFT JOIN work.beneish_m as b
216  on a.key=b.key;
WARNING: Variable key already exists on file WORK.MERGE_BACK.
NOTE: Table WORK.MERGE_BACK created, with 1171 rows and 48 columns.

217
218  run;
NOTE: PROC SQL statements are executed immediately; The RUN statement has no effect.
219  quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           0.04 seconds
      cpu time            0.03 seconds


220  data beneish_index;
221  set beneish_m;
222  key_ind=1;
223  keep key key_ind;
224  run;

NOTE: There were 1171 observations read from the data set WORK.BENEISH_M.
NOTE: The data set WORK.BENEISH_INDEX has 1171 observations and 2 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds


225  proc sort data=beneish_index nodup; by key; run;

NOTE: There were 1171 observations read from the data set WORK.BENEISH_INDEX.
NOTE: 855 duplicate observations were deleted.
NOTE: The data set WORK.BENEISH_INDEX has 316 observations and 2 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds


226  proc sql;
227  create table merge_back as select
228  beneish_index.*, beneish_m.*
229  from work.beneish_index as a LEFT JOIN work.beneish_m as b
230  on a.key=b.key;
WARNING: Variable key already exists on file WORK.MERGE_BACK.
NOTE: Table WORK.MERGE_BACK created, with 1171 rows and 49 columns.

231
232  run;
NOTE: PROC SQL statements are executed immediately; The RUN statement has no effect.
233  quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           0.04 seconds
      cpu time            0.04 seconds


234  proc sort data=beneish_index nodup; by key; run;

NOTE: Input data set is already sorted, no sorting done.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds


235  proc sql;
236  create table merge_back as select
237  beneish_index.*, beneish_m.*
238  from work.beneish_index as a LEFT JOIN work.beneish_m as b
239  on a.key=b.key;
WARNING: Variable key already exists on file WORK.MERGE_BACK.
NOTE: Table WORK.MERGE_BACK created, with 1171 rows and 49 columns.

240
241  run;
NOTE: PROC SQL statements are executed immediately; The RUN statement has no effect.
242  quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           0.04 seconds
      cpu time            0.04 seconds


243  proc sort data=beneish_m; by gvkey datadate; run;

NOTE: Input data set is already sorted, no sorting done.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds


244  data beneish_index;
245  set beneish_m;
246  key_ind=1;
247  keep key;
248  run;

NOTE: There were 1171 observations read from the data set WORK.BENEISH_M.
NOTE: The data set WORK.BENEISH_INDEX has 1171 observations and 1 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds


249  proc sort data=beneish_index nodup; by key; run;

NOTE: There were 1171 observations read from the data set WORK.BENEISH_INDEX.
NOTE: 855 duplicate observations were deleted.
NOTE: The data set WORK.BENEISH_INDEX has 316 observations and 1 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds


250  proc sql;
251  create table merge_back as select
252  beneish_index.*, beneish_m.*
253  from work.beneish_index as a LEFT JOIN work.beneish_m as b
254  on a.key=b.key;
WARNING: Variable key already exists on file WORK.MERGE_BACK.
NOTE: Table WORK.MERGE_BACK created, with 1171 rows and 48 columns.

255
256  run;
NOTE: PROC SQL statements are executed immediately; The RUN statement has no effect.
257  quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           0.04 seconds
      cpu time            0.06 seconds

Here is the log. I solved the first problem of the proc sort not continuing into the first left join. Now the problem is still that the 2nd left join is bringing over all duplicates key instead of just the unique ones. It gives the warning that
"WARNING: Variable key already exists on file WORK.MERGE_BACK." which I dont totally understand because i am creating the work.merge_back by joining them on the variable key. Let me know if you need anything else.

PaigeMiller · Posted 02-14-2025 04:25 PM

"WARNING: Variable key already exists on file WORK.MERGE_BACK."

You are joining two tables, and variable KEY exists in both. So both cannot be in the resulting data set, you can only have one variable named KEY in the resulting data set.

Now the problem is still that the 2nd left join is bringing over all duplicates key instead of just the unique ones.

What I see is that you eliminate duplicates from beneish_index. So the duplicates can't be coming from there. However, I don't see where you eliminate duplicates from work.beneish_m, unless I missed it somewhere, so the duplicates can be coming from there.

--
Paige Miller

Kurt_Bremser · Posted 02-14-2025 05:23 PM

One of your PROC SORTs does not work because variable datadate is not in the dataset. You forgot it in the KEEP in line 49.

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Tom · Posted 02-15-2025 03:47 PM

This statement makes no sense:

sic2=put(substr(sic,1,2),2.);

Because SUBSTR() function always returns a character string SAS will assume you wanted to use the $2. format instead of the 2. format with the PUT() function call. So the end result is the same as just doing:

sic2=substr(sic,1,2);

So why do you have the PUT() function there?

Tom · Posted 02-15-2025 03:54 PM

Don't try to compare character variables to numeric constants.

81   if CIK =. then delete;
82
83   Run;

NOTE: Character values have been converted to numeric values at the places given by: (Line):(Column).
      81:4

You can use the MISSING() function. It will work for both numeric and character variables. For numeric variables it will also detect cases with special missing values.

if missing(cik) then delete;

Tom · Posted 02-14-2025 04:11 PM

I didn't make it past the first data step. It is very rare that you would want to combine datasets in this way.

data combined;
  set fsa.compustat_short;
  set fsa.aaer_combined;
run;

Normally there is some key variable that you can use to MERGE the two datasets.

data combined;
  merge fsa.compustat_short fsa.aaer_combined;
  by id;
run;

Or if they have the same structure then you can concatenate the datasets.

data combined;
  set fsa.compustat_short fsa.aaer_combined;
run;

Or if they are sorted by some key variable interleave them to preserve the sort order.

data combined;
  set fsa.compustat_short fsa.aaer_combined;
  by id;
run;

When you do that double SET statement trick you get a dataset with the minimum number of observations between the two datasets. Which is reflected in your LOG.

NOTE: There were 2105 observations read from the data set FSA.COMPUSTAT_SHORT.
NOTE: There were 2104 observations read from the data set FSA.AAER_COMBINED.
NOTE: The data set WORK.COMBINED has 2104 observations and 804 variables.

So there were 2,104 observations in FSA.AAER_COMBINED so on the 2,105th iteration the data step stopped when that SET statement tried to read past the end. So although FSA.COMPUSTAT_SHORT has at least 2,105 (and who knows how many more) only the the first 2,104 observations are used. And if ANY of the variables in FSA.COMPUSTAT_SHORT also exist in FSA.AAER_COMBINED then the values from FSA.COMPUSTAT_SHORT will be overwritten (and hence lost).

Try an example to see what would happen if the two datasets had the same set of variables:

1    data males females;
2      set sashelp.class;
3      if sex='M' then output males;
4      else output females;
5    run;

NOTE: There were 19 observations read from the data set SASHELP.CLASS.
NOTE: The data set WORK.MALES has 10 observations and 5 variables.
NOTE: The data set WORK.FEMALES has 9 observations and 5 variables.
NOTE: DATA statement used (Total process time):
      real time           0.06 seconds
      cpu time            0.03 seconds


6
7    data want;
8      set males;
9      set females;
10   run;

NOTE: There were 10 observations read from the data set WORK.MALES.
NOTE: There were 9 observations read from the data set WORK.FEMALES.
NOTE: The data set WORK.WANT has 9 observations and 5 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds

What do you think that WANT looks like in this case?

Spoiler

Tom · Posted 02-15-2025 06:56 PM

Can you explain more what you are trying to do?

If you want to "join" the dataset on exact matches and at least one of the datasets does not have duplicate keys then it is going to be much easier to use a normal data step MERGE instead of trying to debug what SQL is doing. You can use the IN= dataset option to if you want to ignore observations that are not in one of the datasets.

data want;
  merge left(in=in1) right(in=in2);
  by key;
  if in1;
run;

Help with left join not continuing proc sort by key and deleting duplicates

Re: Help with left join not continuing proc sort by key and deleting duplicates

Re: Help with left join not continuing proc sort by key and deleting duplicates

Re: Help with left join not continuing proc sort by key and deleting duplicates

Re: Help with left join not continuing proc sort by key and deleting duplicates

Re: Help with left join not continuing proc sort by key and deleting duplicates

Re: Help with left join not continuing proc sort by key and deleting duplicates

Re: Help with left join not continuing proc sort by key and deleting duplicates

Re: Help with left join not continuing proc sort by key and deleting duplicates

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