Swap variable names: rename (v1 v2) (v2 v1) Lowercase (or uppercase, or propercase) groups of variable names: rename V1 V2, lower or rename *, lower Add suffix _old to variables…
Both FactSet and CRSP offer identifier files that contain primary identifiers at the entity level and security level (note: an entity may issue multiple securities). These files provide a mapping…
I ran a test on Stata running speed on my newest MacBook Pro (14-inch, 2021) and two old Macs—iMac (27-inch, 2019) and MacBook Pro (16-inch, 2019). Technical specifications: MacBook Pro…
There is a temptation for accounting PhD students to invest in learning Python. However, I would recommend that accounting PhD students focus more on SAS + Stata than on Python…
Most propensity score matching (PSM) examples typically use cross-sectional data rather than panel data. However, in accounting research, panel data (observations with two subscripts i and t, e.g., firm-years) are…
WRDS provides an excellent manual (link) and SAS code (link) for cleaning up the raw TRACE Enhanced bond transaction data, primarily based on the work done by Dick‐Nielsen, Jens, How…
A Chow test is simply a test of whether the coefficients estimated over one group of the data are equal to the coefficients estimated over another. I find two useful…
This macro is used to count the number of analysts who followed a specific firm. Although this is a commonly used measure in literature, prior studies often give a vague…
Stata is a case-sensitive application, which can sometimes cause trouble. Therefore, we might want to convert all variable names or the values of all string variables to lowercase before further…
tabulate varname command is handy in Stata, but sometimes it returns a too long result, if varname contains too many unique values. The third-party command, groups, will solve the problem…
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