Hi everyone
This is my first day on the forum. Found it very useful. I am here with a question. Following are the results of xtregar. I am facing difficulty in the interpretation of Bhargava et al. Durbin-Watson and Baltagi-Wu LBI. Kindly if somebody can help.
Regards
Ajid ur Rehman
PhD Scholar at DUFE P.R China
RE GLS regression with AR(1) disturbances Number of obs = 8478
Group variable: code Number of groups = 1374
R-sq: within = 0.0834 Obs per group: min = 1
between = 0.4119 avg = 6.2
overall = 0.3712 max = 12
Wald chi2(12) = 1007.50
corr(u_i, Xb) = 0 (assumed) Prob > chi2 = 0.0000
------------------- theta --------------------
min 5% median 95% max
0.3110 0.3634 0.4920 0.5056 0.5056
---------------------------------------------------------------------------------
nwc2 | Coef. Std. Err. z P>|z| [95% Conf. Interval]
----------------+----------------------------------------------------------------
w_salesgrowth~e | 7.95e-07 4.20e-07 1.89 0.058 -2.76e-08 1.62e-06
age | .0013413 .0007105 1.89 0.059 -.0000512 .0027338
asminfo | -.0046511 .0009177 -5.07 0.000 -.0064498 -.0028524
tang | -.2290547 .0087822 -26.08 0.000 -.2462675 -.211842
roe1 | .0270138 .0076593 3.53 0.000 .0120019 .0420258
quickratio | -.0317348 .0016567 -19.16 0.000 -.0349819 -.0284877
size1 | -.0097543 .0017352 -5.62 0.000 -.0131552 -.0063533
gdpchange | -.0158509 .0050135 -3.16 0.002 -.0256773 -.0060246
numberofdirec~m | -.000534 .0002685 -1.99 0.047 -.0010602 -7.83e-06
numberofindep~h | -.0003174 .0005567 -0.57 0.569 -.0014086 .0007738
lever | -.0021141 .0026342 -0.80 0.422 -.007277 .0030489
_cons | .4797831 .0421132 11.39 0.000 .3972427 .5623234
----------------+----------------------------------------------------------------
rho_ar | .71972202 (estimated autocorrelation coefficient)
sigma_u | .09996985
sigma_e | .06597533
rho_fov | .69660343 (fraction of variance due to u_i)
---------------------------------------------------------------------------------
modified Bhargava et al. Durbin-Watson = .72234767
Baltagi-Wu LBI = 1.2792451
This is my first day on the forum. Found it very useful. I am here with a question. Following are the results of xtregar. I am facing difficulty in the interpretation of Bhargava et al. Durbin-Watson and Baltagi-Wu LBI. Kindly if somebody can help.
Regards
Ajid ur Rehman
PhD Scholar at DUFE P.R China
RE GLS regression with AR(1) disturbances Number of obs = 8478
Group variable: code Number of groups = 1374
R-sq: within = 0.0834 Obs per group: min = 1
between = 0.4119 avg = 6.2
overall = 0.3712 max = 12
Wald chi2(12) = 1007.50
corr(u_i, Xb) = 0 (assumed) Prob > chi2 = 0.0000
------------------- theta --------------------
min 5% median 95% max
0.3110 0.3634 0.4920 0.5056 0.5056
---------------------------------------------------------------------------------
nwc2 | Coef. Std. Err. z P>|z| [95% Conf. Interval]
----------------+----------------------------------------------------------------
w_salesgrowth~e | 7.95e-07 4.20e-07 1.89 0.058 -2.76e-08 1.62e-06
age | .0013413 .0007105 1.89 0.059 -.0000512 .0027338
asminfo | -.0046511 .0009177 -5.07 0.000 -.0064498 -.0028524
tang | -.2290547 .0087822 -26.08 0.000 -.2462675 -.211842
roe1 | .0270138 .0076593 3.53 0.000 .0120019 .0420258
quickratio | -.0317348 .0016567 -19.16 0.000 -.0349819 -.0284877
size1 | -.0097543 .0017352 -5.62 0.000 -.0131552 -.0063533
gdpchange | -.0158509 .0050135 -3.16 0.002 -.0256773 -.0060246
numberofdirec~m | -.000534 .0002685 -1.99 0.047 -.0010602 -7.83e-06
numberofindep~h | -.0003174 .0005567 -0.57 0.569 -.0014086 .0007738
lever | -.0021141 .0026342 -0.80 0.422 -.007277 .0030489
_cons | .4797831 .0421132 11.39 0.000 .3972427 .5623234
----------------+----------------------------------------------------------------
rho_ar | .71972202 (estimated autocorrelation coefficient)
sigma_u | .09996985
sigma_e | .06597533
rho_fov | .69660343 (fraction of variance due to u_i)
---------------------------------------------------------------------------------
modified Bhargava et al. Durbin-Watson = .72234767
Baltagi-Wu LBI = 1.2792451
