Monthly Archives: August 2019

Misusing the Chow Test: What You’re Really Testing

Posted on August 13, 2019 by Kai Chen

A Chow test is used to check for a structural change between two regressions: The null hypothesis H0 is that all coefficients in the two regressions are the same. The alternative hypothesis H1 is that at least one of the coefficients … Continue reading →

Posted in Stata | 6 Comments

SAS macro to count the number of analysts following a firm

Posted on August 8, 2019 by Kai Chen

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 description on what they do. The question is—what does “analysts … Continue reading →

Posted in SAS | 4 Comments