HQICHannan-Quinn Information Criterion (statistics)
HQICHelmut Quirxtner International Consulting (Austria)
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When the researchers apply the AIC, SBIC and HQIC techniques, the parameter estimates and the general model output are selected on the basis of lower values of information criteria; thus, reducing standard errors.
According to Hurrich and Tsai (1989), the model specification methods related to the SBIC and HQIC techniques are order consistent and they are not asymptotically efficient like the AIC.
The results of the AIC, SBIC and HQIC approaches to identify determinates of IPO underpricing over the first month of trading indicate similar findings, which illustrates that their model specifications are more or less same.
Hurrich and Tsai (1989) pointed out using SBIC and HQIC techniques for model specifications are order consistent and not appropriate like the AIC.
Table 4 Comparison of the EBA Technique with other Traditional Econometric Methods Regression AIC SBIC HQIC Constant -0.
The HQIC suggested that the model with three classes was probably the best fit, whereas the AIC suggested the model with four classes was favorable.
En funcion de sus propiedades asintoticas los IC pueden ser clasificados en dos categorias: (a) criterios eficientes, tales como AIC o AICC y (b) criterios consistentes, tales como BIC, CAIC o HQIC.
Por consiguiente, el presente trabajo tiene como objetivo determinar cuan efectivos son los criterios AIC, AICC, BIC, CAIC y HQIC para descubrir el verdadero PGD en una familia de modelos anidados.
Prueba de seleccion de rezagos VAR (dlnhom, dlnccol) Lag LL LR Df P FPE AIC HQIC SBIC 0 -63,61 1 -55,14 16,93 * 4,00 0,00 0,03 * 2,30 * 2,39 2,53 2 -51,47 7,35 4,00 0,12 0,03 2,31 2,46 2,69 3 -51,09 0,74 4,00 0,95 0,04 2,45 2,65 2,97 Nota.