Hello,
I wanted to see the distribution of firms in the various industry areas (based on the first 2 digits of SIC codes). Here is what I've written and the error obtained:
// 1. SIC (2 digits) classification:
// we create a string variable (sic2) with the first 2 digits of sic in order to indentify the industry
gen sic2=substr(sic,1,2)
// we encode the variable so that we obtain a numeric variable instead of a string one
encode sic2, generate (SIC2)
// next we generate variable SIC_group to group the various sic into the appropriate industry
recode SIC2 (01/09=0) (10/14=1) (15/17=2) (20/39=3) (40/49=4) (50/51=5) (52/59=6) (60/67=7) (70/89=8) (91/97=9) (else=.), generate(SIC_group)
Unfortunately, when I check the variable SIC_groups, I obtain that firms with SIC 7363, so with a SIC2 of 73, are placed in group 6, which is wrong. The error occurs also in other groups and sic.
Also, do you know which command can I use later to see the number of GVKEY per industry group?
Has someone any idea what to do?
Thank you in advance
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