各位大神么,最近在做面板tobit回归,我的因变量是0-1的,逛了一遍论坛,有的说面板数据应该用xttobit回归,截面用tobit回归,还想确定下该如何选择模型?另外以下分别是我用xttobit和tobit做的分析,应该怎么分析以下结果呢,有几个自变量不显著是不是代表不能放进模型?还请各位能不吝赐教,一点小小的提醒也是很大的帮助,谢谢各位!
Random-effects tobit regression Number of obs = 2,514
Group variable: stock Number of groups = 601
Random effects u_i ~ Gaussian Obs per group:
min = 1
avg = 4.2
max = 6
Integration method: mvaghermite Integration pts. = 12
Wald chi2(28) = 654.89
Log likelihood = 1836.4554 Prob > chi2 = 0.0000
------------------------------------------------------------------------------
eff1 | Coef. Std. Err. z P>|z| [95% Conf. Interval]
-------------+----------------------------------------------------------------
lnts1 | .0497733 .0053421 9.32 0.000 .039303 .0602437
m1 | 3.791943 .7116952 5.33 0.000 2.397046 5.18684
fcf3 | .0060322 .0095683 0.63 0.528 -.0127213 .0247857
ly1 | -.1092208 .0065313 -16.72 0.000 -.1220219 -.0964196
divers | -.0019199 .0020498 -0.94 0.349 -.0059374 .0020976
state | .0369513 .0186904 1.98 0.048 .0003189 .0735838
fci | -.0045052 .0074752 -0.60 0.547 -.0191564 .010146
y2 | .0503885 .0073275 6.88 0.000 .0360269 .0647501
y3 | .0971074 .0079008 12.29 0.000 .0816221 .1125927
y4 | .1446869 .0083593 17.31 0.000 .1283031 .1610708
y5 | .1145475 .0087814 13.04 0.000 .0973362 .1317588
y6 | .1135564 .0091417 12.42 0.000 .095639 .1314738
ind2 | .0612301 .0580061 1.06 0.291 -.0524597 .1749199
ind3 | .0698937 .069228 1.01 0.313 -.0657907 .2055781
ind4 | .1765221 .0465611 3.79 0.000 .0852639 .2677802
ind5 | .1731362 .0480077 3.61 0.000 .0790428 .2672297
ind6 | .0703635 .0638137 1.10 0.270 -.054709 .1954361
ind7 | .0923405 .0363145 2.54 0.011 .0211655 .1635156
ind8 | .1584963 .0465288 3.41 0.001 .0673016 .249691
ind9 | .0349995 .0432293 0.81 0.418 -.0497284 .1197273
ind10 | .0600446 .0475038 1.26 0.206 -.0330611 .1531503
ind11 | -.0316198 .0674821 -0.47 0.639 -.1638824 .1006427
ind12 | -.0940814 .0676373 -1.39 0.164 -.2266481 .0384852
ind13 | .2404103 .0470963 5.10 0.000 .1481032 .3327173
ind14 | .0866296 .0460927 1.88 0.060 -.0037106 .1769697
ind15 | .0776879 .0364921 2.13 0.033 .0061646 .1492111
ind16 | .0373999 .0357456 1.05 0.295 -.0326601 .10746
ind17 | .0074575 .0387949 0.19 0.848 -.0685792 .0834941
_cons | -.3476785 .1126014 -3.09 0.002 -.5683732 -.1269837
-------------+----------------------------------------------------------------
/sigma_u | .0847793 .0035483 23.89 0.000 .0778248 .0917339
/sigma_e | .0861396 .001453 59.28 0.000 .0832918 .0889875
-------------+----------------------------------------------------------------
rho | .4920418 .0236349 .4458755 .538315
------------------------------------------------------------------------------
LR test of sigma_u=0: chibar2(01) = 628.79 Prob >= chibar2 = 0.000
0 left-censored observations
2,356 uncensored observations
158 right-censored observations
tobit
Tobit regression Number of obs = 2,514
LR chi2(28) = 819.06
Prob > chi2 = 0.0000
Log likelihood = 1522.0602 Pseudo R2 = -0.3681
------------------------------------------------------------------------------
eff1 | Coef. Std. Err. t P>|t| [95% Conf. Interval]
-------------+----------------------------------------------------------------
lnts1 | .041936 .0042509 9.87 0.000 .0336002 .0502717
m1 | 3.058869 .6267512 4.88 0.000 1.829861 4.287877
fcf3 | .0036258 .0117254 0.31 0.757 -.0193668 .0266183
ly1 | -.0973872 .0053511 -18.20 0.000 -.1078804 -.0868941
divers | -.0028519 .0016546 -1.72 0.085 -.0060965 .0003926
state | .0143981 .0118213 1.22 0.223 -.0087825 .0375786
fci | -.0203384 .0067499 -3.01 0.003 -.0335744 -.0071024
y2 | .0497591 .0094986 5.24 0.000 .0311332 .0683851
y3 | .094583 .009638 9.81 0.000 .0756837 .1134823
y4 | .1399957 .0095828 14.61 0.000 .1212046 .1587869
y5 | .1097019 .0093693 11.71 0.000 .0913295 .1280744
y6 | .1097365 .0091033 12.05 0.000 .0918856 .1275874
ind2 | .057195 .0313635 1.82 0.068 -.0043063 .1186963
ind3 | .0524588 .0487895 1.08 0.282 -.0432134 .148131
ind4 | .1639805 .0291723 5.62 0.000 .106776 .2211849
ind5 | .1301973 .0320434 4.06 0.000 .0673628 .1930317
ind6 | .0623804 .0346097 1.80 0.072 -.0054865 .1302473
ind7 | .0750792 .0207239 3.62 0.000 .0344414 .1157171
ind8 | .1841718 .0327465 5.62 0.000 .1199587 .248385
ind9 | .0118732 .0275982 0.43 0.667 -.0422446 .065991
ind10 | .0726788 .0300694 2.42 0.016 .013715 .1316425
ind11 | -.0225155 .0708679 -0.32 0.751 -.1614817 .1164508
ind12 | -.0221168 .0471941 -0.47 0.639 -.1146606 .0704271
ind13 | .2663088 .0277571 9.59 0.000 .2118794 .3207382
ind14 | .0905704 .0266487 3.40 0.001 .0383145 .1428262
ind15 | .0826404 .0208718 3.96 0.000 .0417125 .1235683
ind16 | .0332008 .0204289 1.63 0.104 -.0068586 .0732602
ind17 | .0119648 .0222562 0.54 0.591 -.0316778 .0556074
_cons | -.1727906 .0866516 -1.99 0.046 -.3427074 -.0028738
-------------+----------------------------------------------------------------
/sigma | .1166587 .0017303 .1132657 .1200517
------------------------------------------------------------------------------
0 left-censored observations
2,356 uncensored observations
158 right-censored observations at eff1 >= 1