** STATA Program racd5p3.do by Colin Cameron

* This program does some of the analysis for chapter 5 of
*   A.C. Cameron and Pravin K. Trivedi (1998),
*   REGRESSION ANALYSIS OF COUNT DATA,
*   Econometric Society Monograph No.30, Cambridge University Press.
 
* For more details on the data see files racd5.1st 
 
* To run this program you need files 
*    racdp5.asc in your directory

* The original analysis used Limdep.
* This Stata program does only part of chapter 5
* It gives Table 5.2 and Table 5.3 (with incorrect ML standard errors)


********** DATA DESCRIPTION
*
* The original data are from Sanjiv Jaggia and Satish Thosar, 1993,
* "Multiple Bids as a Consequence of Target Management Resistance"
* Review of Quantitative Finance and Accounting, 447-457.
* This is used e.g. in A.C.Cameron and P.K.Trivedi (1998)
* "Regression Analysis of Count Data", Cambridge University Press, pp.146-151. 
*
* 1. DOCNO     Doc No.
* 2. WEEKS     Weeks
* 3. NUMBIDS   Count (Dependent Variable)
* 4. TAKEOVER  Delta (1 if taken over)
* 5. BIDPREM   Bid Premium
* 6. INSTHOLD  Institutional Holdings
* 7. SIZE      Size measured in billions
* 8. LEGLREST  Legal Restructuring
* 9. REALREST  Real Restructuring
* 10. FINREST  Financial Restructuring
* 11. REGULATN Regulation
* 12. WHTKNGHT White Knight
* and also
* 13. SIZESQ   Size Squared
* 14. CONSTANT

********** CREATE OUTPUT FILE
log using racd5p3.out, replace
di "racd5p3.do for Cameron and Trivedi RACD chapter 5"



********** READ DATA
infile docno weeks numbids takeover bidprem insthold size leglrest /*
    */ realrest finrest regulatn whtknght sizesq constant using racd5.asc


********** DATA TRANSFORMATIONS


******** CHECK DATA: DESCRIPTIVE STATISTICS
describe
summarize

*** POISSON REGRESSION 
poisson numbids leglrest realrest finrest whtknght /*
    */  bidprem insthold size sizesq regulatn
* This gives ML standard errors which are incorrect

********** CLOSE OUTPUT
log close