Regarding data structure in logit panel model

[shilpa gupta]

I am examining the micro level i.e. firm level determinants of External commercial borrowing in India by applying the logit panel model . The data set comprises of 545 firms for the years 2004-2020. I have further divided the dataset into 3 sub time periods a) 2004-2006: Pre-global financial crisis period, b) 2007-2009: Global financial crisis period and c) 2010-2020: post- global financial crisis period. While dividing the into 3 sub time periods, i encountered a problem. There are firms which have taken ECB in pre and post crisis periods but not in GFC period. Should i removed those firms from the GFC sub time period dataset ?

[shilpa gupta]

data is available since 2004 only.