I am estimating the following:
proc panel data = data;
id gvkey rankyear;
model y = cera_pl_vol cera_mi_vol revi_pl_vol revi_mi_vol
/ranone noint hccme = 3 cluster;
I want to check the Hausman-Statistic to infer wether random effects are appropriate or not. I estimate this for a set of different panels.
In some cases I get a m-value. In some cases I do not get a m-value. Why is that so? How can I appropriately check wether random effects are appropriate (random effects for gvkey)?
Examples are attached below:
What is the specific SAS release you are running? You can find the exact SAS release information by submitting the following code and look in the log file:
%put Release: &sysvlong ;
Do you see any warning message in the log file indicating Hausman test is not computed? If so, what is the warning message?
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