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→Analyis Calculations and Notes
*Year x anaic2 (2 digit acquiror naic) fixed effect indicators were created
*CARM variables (Market Model CAR) were created for the 7 day window for the figures
*Vscore variables were created for the significance tests on CARS using the RMSE from the estimation window: <math>vscore = abs \left ( | \frac{carm}{\left( \frac{rmse}{\sqrt{n}} \right)} \right)|</math>. This was done on a per group basis, using the variable names xgroupvar, where group=it or itvc or null.
*Year range variables from 1 to 6 were created for years 1985-1989, ... , 2005-2009, 2010-2011.
*In the regression analysis we clustered standard errors on acqno (the cusip-announceday pair that could have multiple acquisitions, marked with ''sameday''=1), using STATA's vce(cluster ''clustvar'') documented here: http://www.stata.com/support/faqs/stat/robust_ref.html
