Price Denotes Day Close Price & Equity Denotes Total Common Equity - Statistics Assignment Help

Assignment Task -                 
 

Complete the tasks below: 

1. Using Capital IQ?, download data for at least 50 US firms for the period 2010-2019. 

Present a table of summary statistics for all the variables used in the project (including the components of Tobin's Q). Make sure to include: mean, standard deviation, min, max, 25% percentile, 50% percentile, 75% percentile, number of firms, number of firm-year observations. Note that it could be the case that a particular firm has data available for 10 years, whilst another firm has data available for, for example, only 5 years. As long as you have a minimum of 5 observations per firm this is ok. Label this table: Table1: Summary Statistics and include a legend at the end of the table that defines each variable; e.g. Price denotes Day Close Price; Equity denotes Total Common Equity, etc. 

2. Firm size is measured as log(Total Assets). Performance is measured with Tobin's Q 

(total assets plus market value of equity less book value of equity divided by total assets; where market value of equity equals price per share times the total number of shares outstanding)". Choose the largest and the smallest firm for which you have 10 years of data. Is average performance statistically different between these two firms? Answer yes or no and show two different ways in which you could reach this conclusion. Make sure to show all the details of your tests and present a table for each test. Label these tables: Table2A: Differences in Performance 1 and Table2B: Differences in Performance 2 (50 words max).

3. You will run a cross-sectional regression. Therefore, compute time averages for every 

variable for each firm. You will end up with 50 cross-sections. Run a simple regression analysis to assess whether larger firms are associated with better performance. Note that you should run this regression using 50 observations. Label this table: Table 3: Simple-regression.

4. Discuss whether the coefficient on size is statistically significant at the 5% level and interpret the coefficient

5. Is the beta estimator for size unbiased? Explain 

6. Using SIC codes add industry dummy variables to your regression. Label this table:

7. Add the following variables to the regression (don't forget also to include the industry dummy variables.

8. Discuss whether the variable chosen in 7a. above is statistically significant at the 5% level and interpret your result

9. Discuss whether the variable chosen in 7 b. above is statistically significant at the 5 % 

10. Using an F-test assess whether the industry dummies are jointly significant.

Notes: 

Your tables need to be incorporated using images, directly obtained through Stata or SAS. These tables are not included in your word count. If the instructions only asks you to include a table, you do not need to provide any further discussion for that task. 

You should use Times New Roman 11 point font on A4 pages with 2.5 margins from each side. An absolute maximum of 1500 words is expected but a good project could include as little as 1000 words. Include word count in the right corner of your project. 

Appendix 1 (not part of the word count) should include the names of the 50 firms you are using. References (max 250 words) should be included in Appendix 2. Only use papers published in journals ranked as 3, 4 and 4*. A list of journal rankings can be obtained from the Project folder in LEARN. 

Make sure that the names you give to your variables are consistent across tables. For example, if you refer to Log(Assets) as SIZE, then your regressions should show the coefficient for SIZE and not for Log(Assets). 

You will need to submit the file of commands and data that replicates your Tables. For example, if you are using STATA you need the do file and its corresponding dta file. These files are not part of the word count.

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