Dear Statalist,
I’m estimating an endogenous response model where the outcome is binary (probit). I have two endogenous regressors:
does eprobit designed for this: a probit outcome with multiple endogenous regressors, mixing a binary endogenous variable and a continuous one?
Also how we can present F statistics
I’m estimating an endogenous response model where the outcome is binary (probit). I have two endogenous regressors:
- a binary treatment (csopresence1) with a probit first stage, and
- a continuous score (CSOXWorkforceScore) with a linear first stage.
does eprobit designed for this: a probit outcome with multiple endogenous regressors, mixing a binary endogenous variable and a continuous one?
Also how we can present F statistics
HTML Code:
. asdoc eprobit (hard_final_Exact_new workforce2_w Firm_Size_w ROA_w Leverage_w Market_book_four_w Non_pension_CFO_w STD_CFO_w board_size_w female_percentage
> _w independent_percentage_w SUSTAIBILITY_COMTEE_FU community2_w productresponsibility2_w humanrights2_w environment2_w Fund_Status_w FUNDING_RATIO_w Platn_Size_w i.y
> ear i.ff_12) ,endogenous(csopresence1 = workforce2_w Firm_Size_w ROA_w Leverage_w Market_book_four_w Non_pension_CFO_w STD_CFO_w board_size_w female_percent
> age_w independent_percentage_w SUSTAIBILITY_COMTEE_FU community2_w productresponsibility2_w humanrights2_w environment2_w Fund_Status_w FUNDING_RATIO_w Platn_Size_w
> CSO_Percentage i.year i.ff_12) endogenous(CSOXWorkforceScore = workforce2_w Firm_Size_w ROA_w Leverage_w Market_book_four_w Non_pension_CFO_w STD_CFO_w board
> _size_w female_percentage_w independent_percentage_w SUSTAIBILITY_COMTEE_FU community2_w productresponsibility2_w humanrights2_w environment2_w Fund_Status_w FUNDING
> _RATIO_w Platn_Size_w secondIV i.year i.ff_12)
(File Myfile.doc already exists, option append was assumed)
Iteration 0: Log likelihood = -13694.844
Iteration 1: Log likelihood = -13602.794
Iteration 2: Log likelihood = -13594.197 (not concave)
Iteration 3: Log likelihood = -13594.187
Iteration 4: Log likelihood = -13594.04
Iteration 5: Log likelihood = -13594.032
Iteration 6: Log likelihood = -13594.032
Extended probit regression Number of obs = 3,272
Wald chi2(47) = 450.24
Log likelihood = -13594.032 Prob > chi2 = 0.0000
-------------------------------------------------------------------------------------------------------------------
| Coefficient Std. err. z P>|z| [95% conf. interval]
--------------------------------------------------+----------------------------------------------------------------
hard_final_Exact_new |
workforce2_w | .0002901 .0034584 0.08 0.933 -.0064882 .0070683
Firm_Size_w | -.0871121 .0802439 -1.09 0.278 -.2443872 .070163
ROA_w | 1.186399 1.155537 1.03 0.305 -1.078412 3.451211
Leverage_w | -.9224273 .4036034 -2.29 0.022 -1.713475 -.1313793
Market_book_four_w | -.0045042 .0060282 -0.75 0.455 -.0163194 .0073109
Non_pension_CFO_w | -2.81969 1.644034 -1.72 0.086 -6.041936 .4025571
STD_CFO_w | -3.310033 2.46476 -1.34 0.179 -8.140875 1.520809
board_size_w | -.0234905 .0205934 -1.14 0.254 -.0638527 .0168718
female_percentage_w | -.097886 .4972582 -0.20 0.844 -1.072494 .8767223
independent_percentage_w | .0638219 .5628318 0.11 0.910 -1.039308 1.166952
SUSTAIBILITY_COMTEE_FU | -.1102331 .0989353 -1.11 0.265 -.3041428 .0836766
community2_w | -.0007338 .0027296 -0.27 0.788 -.0060837 .004616
productresponsibility2_w | .0029923 .0016794 1.78 0.075 -.0002992 .0062839
humanrights2_w | .0006178 .0017632 0.35 0.726 -.0028379 .0040735
environment2_w | .0000277 .0033596 0.01 0.993 -.006557 .0066124
Fund_Status_w | -4.393861 1.647466 -2.67 0.008 -7.622835 -1.164887
FUNDING_RATIO_w | -.1397964 .3305968 -0.42 0.672 -.7877542 .5081614
Platn_Size_w | -.0990358 .0556972 -1.78 0.075 -.2082003 .0101287
|
year |
2007 | -.2245667 .3539824 -0.63 0.526 -.9183595 .4692261
2008 | .0369732 .2800052 0.13 0.895 -.5118268 .5857733
2009 | .1055018 .2810881 0.38 0.707 -.4454207 .6564243
2010 | .0040336 .2811129 0.01 0.989 -.5469376 .5550048
2011 | -.2604922 .2976809 -0.88 0.382 -.8439359 .3229516
2012 | -.2275394 .2868657 -0.79 0.428 -.7897859 .3347071
2013 | -.2378892 .2921958 -0.81 0.416 -.8105826 .3348041
2014 | -.4236912 .3080009 -1.38 0.169 -1.027362 .1799795
2015 | -.3478404 .2930502 -1.19 0.235 -.9222082 .2265274
2016 | -.467874 .2965471 -1.58 0.115 -1.049096 .1133477
2017 | -.5381708 .3056125 -1.76 0.078 -1.13716 .0608188
2018 | -.3364001 .305985 -1.10 0.272 -.9361197 .2633194
2019 | -.5309127 .3062922 -1.73 0.083 -1.131234 .0694089
2020 | -.3178195 .3190081 -1.00 0.319 -.9430638 .3074248
2021 | -.5942055 .3230958 -1.84 0.066 -1.227462 .0390506
2022 | -1.099338 .3744762 -2.94 0.003 -1.833298 -.3653783
|
ff_12 |
2 | .3460233 .2677015 1.29 0.196 -.178662 .8707085
3 | .4222693 .1993813 2.12 0.034 .0314891 .8130495
4 | .4130044 .3041464 1.36 0.174 -.1831117 1.00912
5 | .0905656 .2450341 0.37 0.712 -.3896924 .5708236
6 | .2757304 .2053907 1.34 0.179 -.126828 .6782889
7 | .3956315 .3238588 1.22 0.222 -.2391202 1.030383
8 | .4343578 .2399267 1.81 0.070 -.0358898 .9046054
9 | .6794512 .2101088 3.23 0.001 .2676455 1.091257
10 | .3739372 .182965 2.04 0.041 .0153325 .732542
11 | .7175276 .194639 3.69 0.000 .3360422 1.099013
12 | .3030569 .2638585 1.15 0.251 -.2140963 .82021
|
csopresence1 | 3.675509 .6759898 5.44 0.000 2.350594 5.000425
CSOXWorkforceScore | -.0211406 .0114654 -1.84 0.065 -.0436124 .0013312
_cons | .1633728 .8238326 0.20 0.843 -1.451309 1.778055
--------------------------------------------------+----------------------------------------------------------------
csopresence1 |
workforce2_w | .0013344 .0004204 3.17 0.002 .0005105 .0021583
Firm_Size_w | -.0260055 .0115703 -2.25 0.025 -.0486828 -.0033282
ROA_w | -.0769989 .1960413 -0.39 0.694 -.4612328 .3072351
Leverage_w | .1163007 .0633825 1.83 0.067 -.0079268 .2405281
Market_book_four_w | .0008914 .0010484 0.85 0.395 -.0011634 .0029461
Non_pension_CFO_w | -.0953092 .2443781 -0.39 0.697 -.5742815 .383663
STD_CFO_w | 1.821936 .4384616 4.16 0.000 .9625669 2.681305
board_size_w | .0123685 .0038642 3.20 0.001 .0047948 .0199423
female_percentage_w | .2067438 .0877581 2.36 0.018 .034741 .3787465
independent_percentage_w | .1755001 .094555 1.86 0.063 -.0098242 .3608245
SUSTAIBILITY_COMTEE_FU | .0727186 .0172796 4.21 0.000 .0388511 .106586
community2_w | .000384 .0004811 0.80 0.425 -.000559 .001327
productresponsibility2_w | -.0007783 .0002975 -2.62 0.009 -.0013615 -.0001952
humanrights2_w | .0007409 .0002921 2.54 0.011 .0001684 .0013134
environment2_w | .002172 .000454 4.78 0.000 .0012822 .0030618
Fund_Status_w | .6965192 .3214644 2.17 0.030 .0664605 1.326578
FUNDING_RATIO_w | .0106136 .0575547 0.18 0.854 -.1021916 .1234187
Platn_Size_w | .0531983 .0090816 5.86 0.000 .0353987 .070998
CSO_Percentage | .7005938 .0462996 15.13 0.000 .6098482 .7913394
|
year |
2007 | -.0212414 .0437606 -0.49 0.627 -.1070106 .0645277
2008 | .0033032 .0441105 0.07 0.940 -.0831518 .0897581
2009 | -.0151635 .0442708 -0.34 0.732 -.1019328 .0716057
2010 | -.0230727 .0448108 -0.51 0.607 -.1109002 .0647548
2011 | -.008098 .0452784 -0.18 0.858 -.0968421 .080646
2012 | .0118927 .0457842 0.26 0.795 -.0778426 .1016281
2013 | .0088205 .0457774 0.19 0.847 -.0809016 .0985427
2014 | .0018422 .0463168 0.04 0.968 -.0889371 .0926215
2015 | -.0338151 .0474963 -0.71 0.476 -.1269062 .0592759
2016 | -.0119155 .0480403 -0.25 0.804 -.1060727 .0822417
2017 | -.0377965 .0490035 -0.77 0.441 -.1338416 .0582485
2018 | -.0484353 .0504334 -0.96 0.337 -.147283 .0504123
2019 | -.0784114 .0521327 -1.50 0.133 -.1805895 .0237668
2020 | -.0987289 .0543481 -1.82 0.069 -.2052493 .0077915
2021 | -.1296869 .0555521 -2.33 0.020 -.238567 -.0208067
2022 | -.0538494 .0584787 -0.92 0.357 -.1684656 .0607667
|
ff_12 |
2 | -.1000944 .055811 -1.79 0.073 -.2094819 .0092931
3 | -.0927815 .0333742 -2.78 0.005 -.1581938 -.0273692
4 | -.0951221 .0450569 -2.11 0.035 -.1834321 -.0068121
5 | -.1152299 .0363664 -3.17 0.002 -.1865067 -.0439531
6 | .0052024 .0362269 0.14 0.886 -.0658011 .0762058
7 | .1104178 .062348 1.77 0.077 -.011782 .2326175
8 | -.1176349 .0348539 -3.38 0.001 -.1859473 -.0493225
9 | -.0075532 .0472383 -0.16 0.873 -.1001385 .0850322
10 | .0337835 .0372079 0.91 0.364 -.0391427 .1067098
11 | -.033197 .0401182 -0.83 0.408 -.1118272 .0454331
12 | -.0646758 .0357877 -1.81 0.071 -.1348184 .0054669
|
_cons | -.5575747 .1280951 -4.35 0.000 -.8086364 -.3065129
--------------------------------------------------+----------------------------------------------------------------
CSOXWorkforceScore |
workforce2_w | .1050009 .0324205 3.24 0.001 .041458 .1685438
Firm_Size_w | -1.619952 .860964 -1.88 0.060 -3.307411 .0675062
ROA_w | -12.49691 14.58623 -0.86 0.392 -41.0854 16.09158
Leverage_w | 9.298805 4.719928 1.97 0.049 .0479155 18.54969
Market_book_four_w | -.0186041 .0780136 -0.24 0.812 -.1715079 .1342997
Non_pension_CFO_w | 11.83764 18.18338 0.65 0.515 -23.80113 47.47641
STD_CFO_w | 124.9824 32.62324 3.83 0.000 61.04198 188.9227
board_size_w | .9668582 .2875248 3.36 0.001 .40332 1.530396
female_percentage_w | 23.1026 6.529241 3.54 0.000 10.30552 35.89968
independent_percentage_w | 7.709896 7.036731 1.10 0.273 -6.081844 21.50164
SUSTAIBILITY_COMTEE_FU | 5.041583 1.285751 3.92 0.000 2.521557 7.561609
community2_w | .0857372 .0358021 2.39 0.017 .0155665 .155908
productresponsibility2_w | -.065649 .0221388 -2.97 0.003 -.1090403 -.0222576
humanrights2_w | .056471 .0217352 2.60 0.009 .0138707 .0990713
environment2_w | .1489021 .0337877 4.41 0.000 .0826793 .2151248
Fund_Status_w | 45.09184 23.91597 1.89 0.059 -1.782599 91.96628
FUNDING_RATIO_w | 2.616812 4.282862 0.61 0.541 -5.777444 11.01107
Platn_Size_w | 3.618175 .6757844 5.35 0.000 2.293662 4.942688
secondIV | .8109468 .0342866 23.65 0.000 .7437463 .8781472
|
year |
2007 | -1.44348 3.254357 -0.44 0.657 -7.821902 4.934942
2008 | .8065856 3.274252 0.25 0.805 -5.61083 7.224001
2009 | -.95348 3.284124 -0.29 0.772 -7.390245 5.483285
2010 | -1.34497 3.320645 -0.41 0.685 -7.853313 5.163374
2011 | -.2476967 3.350255 -0.07 0.941 -6.814076 6.318683
2012 | .7847107 3.3837 0.23 0.817 -5.847219 7.41664
2013 | -.0955823 3.373479 -0.03 0.977 -6.70748 6.516315
2014 | -.1133956 3.405503 -0.03 0.973 -6.78806 6.561269
2015 | -3.72826 3.453126 -1.08 0.280 -10.49626 3.039742
2016 | -1.595088 3.474919 -0.46 0.646 -8.405805 5.215629
2017 | -3.652523 3.524364 -1.04 0.300 -10.56015 3.255104
2018 | -5.622037 3.597329 -1.56 0.118 -12.67267 1.428598
2019 | -7.565524 3.699398 -2.05 0.041 -14.81621 -.3148369
2020 | -9.57068 3.836032 -2.49 0.013 -17.08917 -2.052196
2021 | -11.98487 3.903622 -3.07 0.002 -19.63583 -4.333917
2022 | -7.95564 4.098634 -1.94 0.052 -15.98881 .0775347
|
ff_12 |
2 | -2.758679 4.1516 -0.66 0.506 -10.89567 5.378308
3 | -5.617874 2.454076 -2.29 0.022 -10.42777 -.8079743
4 | -8.513258 3.31482 -2.57 0.010 -15.01018 -2.016331
5 | -9.78016 2.699942 -3.62 0.000 -15.07195 -4.488371
6 | 4.025594 2.637835 1.53 0.127 -1.144467 9.195655
7 | 9.220683 4.620966 2.00 0.046 .1637559 18.27761
8 | -8.186068 2.556535 -3.20 0.001 -13.19678 -3.175351
9 | -1.796408 3.479473 -0.52 0.606 -8.616049 5.023233
10 | 4.841352 2.715729 1.78 0.075 -.4813783 10.16408
11 | -1.941273 2.944112 -0.66 0.510 -7.711626 3.829081
12 | -1.750711 2.610873 -0.67 0.503 -6.867928 3.366505
|
_cons | -46.83266 9.509099 -4.93 0.000 -65.47015 -28.19517
--------------------------------------------------+----------------------------------------------------------------
var(e.csopresence1)| .1547481 .0038273 .1474256 .1624343
var(e.CSOXWorkforceScore)| 856.7415 21.21086 816.1615 899.3391
--------------------------------------------------+----------------------------------------------------------------
corr(e.csopresence1,e.hard_final_Exact_new)| -.8000674 .1461942 -5.47 0.000 -.9558047 -.2937171
corr(e.CSOXWorkforceScore,e.hard_final_Exact_new)| -.7232348 .1556177 -4.65 0.000 -.9144283 -.2681589
corr(e.CSOXWorkforceScore,e.csopresence1)| .9545295 .0015559 613.47 0.000 .9513779 .9574812
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Click to Open File: Myfile.doc
.
. testnl (_b[/corr(e.csopresence1,e.hard_final_Exact_new)] = 0) (_b[/corr(e.CSOXWorkforceScore,e.hard_final_Exact_new)] = 0)
(1) _b[/corr(e.csopresence1,e.hard_final_Exact_new)] = 0
(2) _b[/corr(e.CSOXWorkforceScore,e.hard_final_Exact_new)] = 0
