Eventus on SAS showing some error message

[liangyue1]

Hi i am running an event study in SAS using Eventus. but it showed me this. i already have uploaded file but the Eventus command is not working. 

31   Eventus fff=ff.factors_daily page=wide;
     -------
     180

ERROR 180-322: Statement is not valid or it is used out of proper order.

32       Request autodate Est=-30 estlen=255;
         -------
         180

ERROR 180-322: Statement is not valid or it is used out of proper order.

33       Windows
         -------
         180
33 ! (-3,0)(-3,1)
33 ! ;

ERROR 180-322: Statement is not valid or it is used out of proper order.

34       EVTSTUDY OutWin=work.ev_dws OutParam=ev_dium pre=8 post=8  famafrench
         --------
         180
34 ! momentum tail=2 twostep   ranktest cda wsr both PVALUE
ERROR 180-322: Statement is not valid or it is used out of proper order.
35           package=1 OUTSAS=work.prodresults;

36   x 'rm demorequest.txt'
36 !                       ;
NOTE: Remote submit to WRDS complete.

[Kurt_Bremser]

Please show the complete log so we know which procedure you are using.

[Kurt_Bremser]

After further research, it looks like you are trying this in an environment where Eventus is not installed/available.

[liangyue1]

but i do have access to Eventus under my WRDS acccount

[mkeintz]

When WRDS first added Eventus to its SAS-accessible software package, it chose to allow users to call the eventus macros without use of the leading % that is almost universally required for macro calls.

This requirement is controlled by the IMPLMAC and CMDMAC options, which typically default to require the leading percent sign, as here:

2256  proc options option=(cmdmac implmac);run;

    SAS (r) Proprietary Software Release 9.4  TS1M6

 NOCMDMAC          Does not check window environment commands for command-style macros.
 NOIMPLMAC         Does not check for statement-style macros.

I don't recall whether EVENTUS needed both of these to be reset, but I recommend you insert this statement before your EVENTUS code, 

options cmdmac implmac ;

See if that works.

You can go back to defaults options later in the program by

options nocmdmac noimplmac ;

One can probably use the EVENTUS macros with a leading"%", but I think you'd have to change how you specify the parameters,

[liangyue1]

Hi, i tried to add 

options cmdmac implmac ;

before the Eventus code and remain others the same but still got the same error message. Is it because i used Mac book pro to install windows and SAS? i run the original code at my friend's computer which is a windows system and it works.  

[mkeintz]

Installing SAS does NOT mean you have included Eventus, which is a third-party proprietary product.

I presume it is still was composed of SAS macro for financial event analysis (I used it a long time ago).  It looks like @Kurt_Bremser is correct - you just don't have those macros.   You can take a look at http://www.eventstudy.com/index.html to see whether it is worth your while to get.

[liangyue1]

I actuallly have access to Eventus. I tried to add %include '/wrds/eventus/pgm/evinit.sas'; before my Eventus command and it gave me this:

13 %include '/wrds/eventus/pgm/evinit.sas';
NOTE: Libref CRLCMACR was successfully assigned as follows:
Engine: V9
Physical Name: /wrds/eventus/pgm/crlcmacr
NOTE: Libref VOLINDEX was successfully assigned as follows:
Engine: V9
Physical Name: /wrds/eventus/sasdata
43 Eventus fff=ff.factors_daily page=wide;

Eventus (R)
Software for Event Studies and Financial Market Research
Copyright (c) 1989-2023 Cowan Research, L.C.

This software is licensed and not sold. All use of the software
is subject to the license. Please remember the investment of time
and effort that went into this product and respect our copyright.
As with any software product, errors are possible despite care-
ful testing. Results are believed accurate but not guaranteed
except as expressly stated in the software license.

---------------------------------------------------------------
Eventus is the product of Cowan Research, L.C.
Ask Eventus questions and get code samples at
http://support.eventstudy.com/
---------------------------------------------------------------

For use by current Eventus subscriber entities and their authorized users only.
WARNING: Eventus license will expire on November 14, 2023 .
This Eventus run started November 12, 2023 01:45:33 AM.
NOTE: DATA statement used (Total process time):
real time 0.01 seconds
cpu time 0.00 seconds

NOTE: Remaining Eventus software statements will be skipped.
NOTE: DATA statement used (Total process time):
real time 0.00 seconds
cpu time 0.00 seconds

WARNING: Eventus is stopping SAS here because of the above error.

NOTE: SAS Institute Inc., SAS Campus Drive, Cary, NC USA 27513-2414
NOTE: The SAS System used:
real time 5:34.32
cpu time 0.22 seconds

NOTE: Remote submit to WRDS complete.

[Kurt_Bremser]

So something is happening within Eventus itself which keeps it from properly starting up. You should get into contact with the WRDS people, they should be able to diagnose the problem.

Note that all calls to Eventus have to be made within an RSUBMIT to WRDS.