I am using estudy for an event study. I have less than 1500 firms in the data. However, when I use estudy, I received the below message. The same code runs fine for a sample with only 200 firms. Why are there more than 8000 variables when I only have less than 1500 firms?
Event study with common event date
no room to add more variables
Up to 8,000 variables are currently allowed, although you could reset the
maximum using set maxvar; see help memory.
Code:
estudy ret*, datevar(date) evdate(`date') indexlist(index) dateformat(DMY) lb1(0) ub1(0) eswlb(-250) eswub(-30) decimal(4) suppress(ind)
no room to add more variables
Up to 8,000 variables are currently allowed, although you could reset the
maximum using set maxvar; see help memory.
