最近在写本科毕业论文,第一次接触stata,所以分析结果不是很看的懂,希望高手们帮我分析一下,谢谢!
先介绍一下我的模型:LnPAY=α+β1ROA+β2New+β3ROA·New+β4LnSize+β5LEV+β6MB+β7CR+β8SI+β9IND+β10Year+ε
LnPay为被解释变量
ROA、New为解释变量,New是指新准则实施的虚拟变量,2007年后为1,2007年前为0
LnSize LEV MB CR SI IND Year都是控制变量,其中IND是行业控制变量,一共13个行业;Year是样本年份,2002-2012共十一年。
在stata中我输的代码是:reg lnpay roa new roa_new lnsize lev mb cr si i.year i.ind
结果如下:
Source | SS df MS Number of obs = 15945
-------------+------------------------------ F( 27, 15917) = 435.12
Model | 5484.6541 27 203.135337 Prob > F = 0.0000
Residual | 7430.8025 15917 .466846925 R-squared = 0.4247
-------------+------------------------------ Adj R-squared = 0.4237
Total | 12915.4566 15944 .810051217 Root MSE = .68326
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lnpay | Coef. Std. Err. t P>|t| [95% Conf. Interval]
-------------+----------------------------------------------------------------
roa | 7.49e-09 1.25e-09 6.02 0.000 5.05e-09 9.94e-09
new | 1.00357 .0254608 39.42 0.000 .9536637 1.053476
roa_new | -5.91e-09 1.26e-09 -4.70 0.000 -8.38e-09 -3.45e-09
lnsize | .3251275 .0052173 62.32 0.000 .314901 .3353541
lev | .0016577 .0007395 2.24 0.025 .0002083 .0031072
mb | -.3672638 .0233934 -15.70 0.000 -.4131175 -.3214101
cr | -.0019444 .0003652 -5.32 0.000 -.0026603 -.0012286
si | .146523 .0113765 12.88 0.000 .1242237 .1688222
|
year |
2004 | .2147602 .0272584 7.88 0.000 .1613306 .2681898
2005 | .2790047 .0273754 10.19 0.000 .2253458 .3326635
2006 | .3394539 .0270154 12.57 0.000 .2865008 .3924071
2007 | -.5702304 .0242934 -23.47 0.000 -.6178482 -.5226126
2008 | -.3349358 .0231148 -14.49 0.000 -.3802435 -.2896282
2009 | -.3832094 .0237468 -16.14 0.000 -.4297559 -.336663
2010 | -.2477623 .0229336 -10.80 0.000 -.2927146 -.2028099
2011 | -.0998221 .0217067 -4.60 0.000 -.1423697 -.0572744
2012 | 0 (omitted)
|
ind |
2 | .2061185 .0525923 3.92 0.000 .1030317 .3092053
3 | .2875214 .0376873 7.63 0.000 .21365 .3613929
4 | .2281474 .046315 4.93 0.000 .1373649 .31893
5 | .3105454 .0520037 5.97 0.000 .2086122 .4124785
6 | .3663712 .0460757 7.95 0.000 .2760577 .4566848
7 | .6021685 .0428005 14.07 0.000 .5182747 .6860623
8 | .516608 .0431778 11.96 0.000 .4319747 .6012413
10 | .5562789 .0441342 12.60 0.000 .4697709 .642787
11 | .6096537 .0486199 12.54 0.000 .5143533 .7049542
12 | .6057256 .0690523 8.77 0.000 .4703752 .7410759
13 | .3960834 .0444866 8.90 0.000 .3088846 .4832821
|
_cons | 5.857542 .1073418 54.57 0.000 5.64714 6.067944
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我想要看控制这几个变量的情况下,新准则实施后(即2007年后),ROA是不是显著增强?有没有受到行业的限制等等。。。不知道系数上怎么看出来。。也不知道怎么进行年份和行业的比较。。希望大家帮助一下我这个菜鸟,谢谢!