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A dataset containing a balanced panel data of annual observations over the period 1973-1987 (15 years) for 560 US firms for the variables described below.

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A tibble with 7840 rows and 20 variables:

- cusip
Committee on Uniform Security Identication Procedures firm code number, the first 6 digits (CNUM)

- year
2-digit year of the data

- inva
investment to assets ratio

- dt_75
dummy variable for 1975

- dt_76
dummy variable for 1976

- dt_77
dummy variable for 1977

- dt_78
dummy variable for 1978

- dt_79
dummy variable for 1979

- dt_80
dummy variable for 1980

- dt_81
dummy variable for 1981

- dt_82
dummy variable for 1982

- dt_83
dummy variable for 1983

- dt_84
dummy variable for 1984

- dt_85
dummy variable for 1985

- dt_86
dummy variable for 1986

- dt_87
dummy variable for 1987

- vala
lagged total market value to assets ratio ("Tobin's Q")

- debta
lagged long term debt to assets ratio

- cfa
lagged cash flow to assets ratio

- sales
lagged sales during the year (million USD)

The structure of the dataset is such that the time index runs “fast”, while the firm index runs “slow”; that is, first all 14 observations for the first firm are given, then the 14 observations for the second firm, etc.

Since we used one year lagged variables of "vala", "debta", "cfa" and "cfa" as regressors, the records in 1973 are skipped.

All values are nominal and millions of dollars except where otherwise noted. Stocks are end of year.

http://www.ssc.wisc.edu/~bhansen/progs/joe_99.html

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