Durbin-Watson (DW) tests for first order autocorrelation showed nearly all of the price series studied had strong autocorrelation necessitating the

generalized least squares procedure.

Table 2 Model Coefficient Estimates for the Sample of 234 Corporations for the Years 1977 through 1994 using the Random Effects

Generalized Least squares (Regression) Estimator Variable Coefficient t-statistic p-value Size of Free Cash Flow 0.

All of these articles use an application of the

generalized least squares (GLS) method first described by Parks (1967), a method designed to deal with some common problems that occur in TSCS data.

TABLE 3

Generalized Least Squares Estimates Country [[phi].

10 level, thereby providing evidence of heteroskedasticity relative to the weighting variable and indicating that the use of

generalized least squares is appropriate.

We use two techniques to measure Andrew's impact on insurance stocks: a

generalized least squares (GLS) estimation technique based on Zellner's (1962) seemingly unrelated regression model and the standard event study cumulative abnormal returns (CAR) tests adjusted for cross-sectional dependence.

The Parks method uses feasible

generalized least squares (FGLS) for dealing with this error process.

We use

generalized least squares to test the relationship between the number of patents issued to U.

Generalized least squares were used to obtain efficient estimates under the assumptions of cross-sectional heteroskedasticity and a common autoregressive process.

Through the use of a transformed

generalized least squares regression model, allowance is made for: no-fault, population density, state-specific price-level, and automobile safety/fatality differences.

Once the model is defined, data from the National Science Foundation are incorporated so this process can be explored using a

generalized least squares method.