NOTE: PROCEDURE PRINTTO used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

3    
4    
5    DM "log; clear; ";
6    DM 'odsresults; clear'; ;
7    
8    %global projectrootdirectory;
9    %let projectrootdirectory=C:/Users/hpham13/Projects/mf_activism/empirical;
10   
11   *Creates your local Libraries;
12   libname rawdata "&projectrootdirectory./0_input/original";
NOTE: Libref RAWDATA was successfully assigned as follows: 
      Engine:        V9 
      Physical Name: C:\Users\hpham13\Projects\mf_activism\empirical\0_input\original
13   libname save    "&projectrootdirectory./1_code/final_package_acceptance";
NOTE: Libref SAVE was successfully assigned as follows: 
      Engine:        V9 
      Physical Name: 
      C:\Users\hpham13\Projects\mf_activism\empirical\1_code\final_package_acceptance
14   
15   %let datadirectory= C:/Users/hpham13/data ;
16   libname lnk "&datadirectory./Linking_tables/";
NOTE: Libref LNK was successfully assigned as follows: 
      Engine:        V9 
      Physical Name: C:\Users\hpham13\data\Linking_tables
17   libname ceo "&datadirectory./ceo/";
NOTE: Libref CEO was successfully assigned as follows: 
      Engine:        V9 
      Physical Name: C:\Users\hpham13\data\ceo
18   libname activism "&datadirectory./activism/" ;
NOTE: Libref ACTIVISM was successfully assigned as follows: 
      Engine:        V9 
      Physical Name: C:\Users\hpham13\data\activism
19   libname comp "&datadirectory./compustat/funda/";
NOTE: Libref COMP was successfully assigned as follows: 
      Engine:        V9 
      Physical Name: C:\Users\hpham13\data\compustat\funda
20   libname crsp "&datadirectory./crsp/";
NOTE: Libref CRSP was successfully assigned as follows: 
      Engine:        V9 
      Physical Name: C:\Users\hpham13\data\crsp
21   libname ibes "&datadirectory./IBES";
NOTE: Libref IBES was successfully assigned as follows: 
      Engine:        V9 
      Physical Name: C:\Users\hpham13\data\IBES
22   
23   * include some macros;
24   %include "&datadirectory./utils/do_over.sas";
331  %include "&datadirectory./utils/ff48.sas";
403  %include "&datadirectory./utils/ff49.sas";
476  %include "&datadirectory./utils/ff12.sas";
515  %include "&datadirectory./utils/winsorize.sas";
603   %include "&datadirectory./utils/lags.sas";
782   
783   * load data;
784   data vote;
785       set activism.vavoteresults_12092024;
786       cusip8 = substr(cusip, 1, 8);
787   run;

NOTE: There were 787289 observations read from the data set ACTIVISM.VAVOTERESULTS_12092024.
NOTE: The data set WORK.VOTE has 787289 observations and 30 variables.
NOTE: DATA statement used (Total process time):
      real time           1.92 seconds
      cpu time            0.40 seconds
      

788   
789   * Votefor and VotedAgainst variables ;
790   data vote2;
791       set vote;
792       if VotedWithheld eq . then VotedWithheld = 0 ;
793       if votedFor+votedAgainst+votedAbstain+brokerNonVote > 0 then do;
794           IOAfor_total=votedFor/(votedFor+votedAgainst+votedAbstain);
795           IOAagainst_total= votedAgainst/(votedFor+votedAgainst+votedAbstain);
796           IOAabstain_total= votedAbstain/(votedFor+votedAgainst+votedAbstain);
797       end;
798   
799       * make the dummy ;
800       if brokerNonVote > 0 then brokerNonVote_dum = 1; else brokerNonVote_dum = 0;
801   
802       format IOAfor_total IOAagainst_total IOAabstain_total IOANonVote_total percentn8.5 ;
803       if IOAfor_total ne .  ;
804       if IOAagainst_total ne .  ;
805   run;

NOTE: Variable IOANonVote_total is uninitialized.
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=2035 Name=The New York Times Company CountryOfInc=USA ticker=NYT CUSIP=650111107
MeetingID=1120294 MeetingType=Annual Recorddate=20170221 sponsor=Management ISSAgendaItemID=M0552
ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=3 SeqNumber=11 MGMTrec=One Year
voteRequirement=0.01 MeetingDate=20170419 AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency
itemOnAgendaID=11137508 base=NA outstandingShare=161511357 votedFor=0 votedAgainst=0
votedAbstain=0 brokerNonVote=14127 VotedWithheld=0 votes1yr=763054 votes2yr=0 votes3yr=0
voteResult=One Year cusip8=65011110 IOAfor_total=. IOAagainst_total=. IOAabstain_total=.
brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=8270
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=2035 Name=The New York Times Company CountryOfInc=USA ticker=NYT CUSIP=650111107
MeetingID=1728560 MeetingType=Annual Recorddate=20230228 sponsor=Management ISSAgendaItemID=M0552
ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=5 SeqNumber=12 MGMTrec=One Year
voteRequirement=0.01 MeetingDate=20230426 AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency
itemOnAgendaID=15479915 base=NA outstandingShare=164633778 votedFor=0 votedAgainst=0
votedAbstain=0 brokerNonVote=2284 VotedWithheld=0 votes1yr=761737 votes2yr=0 votes3yr=0
voteResult=One Year cusip8=65011110 IOAfor_total=. IOAagainst_total=. IOAabstain_total=.
brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=8382
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=5450 Name=Globe Life Inc. CountryOfInc=USA ticker=GL CUSIP=37959E102 MeetingID=781668
MeetingType=Annual Recorddate=20130301 sponsor=Management ISSAgendaItemID=M0201
ItemDesc=Elect Director Wesley D. Protheroe BallotItemNumber=1.1 SeqNumber=10 MGMTrec=For
voteRequirement=0.5 MeetingDate=20130425 AgendaGeneralDesc=Elect Director itemOnAgendaID=9138835
base=F+A outstandingShare=93364198 votedFor=0 votedAgainst=0 votedAbstain=0 brokerNonVote=8151399
VotedWithheld=0 votes1yr=. votes2yr=. votes3yr=. voteResult=Withdrawn cusip8=37959E10
IOAfor_total=. IOAagainst_total=. IOAabstain_total=. brokerNonVote_dum=1 IOANonVote_total=.
_ERROR_=1 _N_=17182
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=6334 Name=TD Ameritrade Holding Corporation CountryOfInc=USA ticker=AMTD
CUSIP=87236YAD0 MeetingID=1107837 MeetingType=Annual Recorddate=20161220 sponsor=Management
ISSAgendaItemID=M0552 ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=3
SeqNumber=6 MGMTrec=One Year voteRequirement=0.01 MeetingDate=20170217
AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency itemOnAgendaID=11058592 base=NA
outstandingShare=527542678 votedFor=0 votedAgainst=0 votedAbstain=0 brokerNonVote=173274
VotedWithheld=0 votes1yr=479455168 votes2yr=2237435 votes3yr=12801121 voteResult=One Year
cusip8=87236YAD IOAfor_total=. IOAagainst_total=. IOAabstain_total=. brokerNonVote_dum=1
IOANonVote_total=. _ERROR_=1 _N_=19683
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=6850 Name=Ever-Glory International Group, Inc. CountryOfInc=USA ticker=EVK
CUSIP=299766204 MeetingID=882735 MeetingType=Annual Recorddate=20140416 sponsor=Management
ISSAgendaItemID=M0552 ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=5
SeqNumber=9 MGMTrec=Three Years voteRequirement=0.01 MeetingDate=20140530
AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency itemOnAgendaID=9699800 base=NA
outstandingShare=14781241 votedFor=0 votedAgainst=0 votedAbstain=0 brokerNonVote=961225
VotedWithheld=0 votes1yr=114306 votes2yr=15942 votes3yr=10777605 voteResult=Three Years
cusip8=29976620 IOAfor_total=. IOAagainst_total=. IOAabstain_total=. brokerNonVote_dum=1
IOANonVote_total=. _ERROR_=1 _N_=21908
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=11173 Name=BSD Medical Corp. CountryOfInc=USA ticker=PRSNQ CUSIP=055665103
MeetingID=935297 MeetingType=Annual Recorddate=20141212 sponsor=Management ISSAgendaItemID=M0201
ItemDesc=Elect Director Douglas P. Boyd BallotItemNumber=1.6 SeqNumber=6 MGMTrec=For
voteRequirement=0.01 MeetingDate=20150205 AgendaGeneralDesc=Elect Director itemOnAgendaID=9954506
base=F+A outstandingShare=39689209 votedFor=0 votedAgainst=0 votedAbstain=0
brokerNonVote=16394226 VotedWithheld=0 votes1yr=. votes2yr=. votes3yr=. voteResult=Withdrawn
cusip8=05566510 IOAfor_total=. IOAagainst_total=. IOAabstain_total=. brokerNonVote_dum=1
IOANonVote_total=. _ERROR_=1 _N_=33351
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=13540 Name=Bassett Furniture Industries, Inc. CountryOfInc=USA ticker=BSET
CUSIP=070203104 MeetingID=770033 MeetingType=Annual Recorddate=20130123 sponsor=Management
ISSAgendaItemID=M0552 ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=4
SeqNumber=13 MGMTrec=One Year voteRequirement=0.01 MeetingDate=20130306
AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency itemOnAgendaID=9089404 base=NA
outstandingShare=10844152 votedFor=0 votedAgainst=0 votedAbstain=0 brokerNonVote=2044417
VotedWithheld=0 votes1yr=6828540 votes2yr=93574 votes3yr=713126 voteResult=One Year
cusip8=07020310 IOAfor_total=. IOAagainst_total=. IOAabstain_total=. brokerNonVote_dum=1
IOANonVote_total=. _ERROR_=1 _N_=38089
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=19290 Name=Brinker International, Inc. CountryOfInc=USA ticker=EAT CUSIP=109641100
MeetingID=1177225 MeetingType=Annual Recorddate=20170918 sponsor=Management ISSAgendaItemID=M0552
ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=4 SeqNumber=12 MGMTrec=One Year
voteRequirement=0.01 MeetingDate=20171116 AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency
itemOnAgendaID=11589410 base=NA outstandingShare=48454974 votedFor=0 votedAgainst=0
votedAbstain=0 brokerNonVote=3893593 VotedWithheld=0 votes1yr=35562043 votes2yr=37973
votes3yr=4741193 voteResult=One Year cusip8=10964110 IOAfor_total=. IOAagainst_total=.
IOAabstain_total=. brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=46969
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=19290 Name=Brinker International, Inc. CountryOfInc=USA ticker=EAT CUSIP=109641100
MeetingID=1795943 MeetingType=Annual Recorddate=20230918 sponsor=Management ISSAgendaItemID=M0552
ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=4 SeqNumber=12 MGMTrec=One Year
voteRequirement=0.01 MeetingDate=20231116 AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency
itemOnAgendaID=16038858 base=NA outstandingShare=44181805 votedFor=0 votedAgainst=0
votedAbstain=0 brokerNonVote=2575120 VotedWithheld=0 votes1yr=36706921 votes2yr=16220
votes3yr=959466 voteResult=One Year cusip8=10964110 IOAfor_total=. IOAagainst_total=.
IOAabstain_total=. brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=47047
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=27126 Name=Century Aluminum Company CountryOfInc=USA ticker=CENX CUSIP=156431108
MeetingID=991997 MeetingType=Annual Recorddate=20150709 sponsor=Management ISSAgendaItemID=M0201
ItemDesc=Elect Director Andrew J. Caplan BallotItemNumber=1.3 SeqNumber=3 MGMTrec=For
voteRequirement=0.01 MeetingDate=20150901 AgendaGeneralDesc=Elect Director
itemOnAgendaID=10331240 base=F+A outstandingShare=86900952 votedFor=0 votedAgainst=0
votedAbstain=0 brokerNonVote=8421431 VotedWithheld=0 votes1yr=. votes2yr=. votes3yr=.
voteResult=Withdrawn cusip8=15643110 IOAfor_total=. IOAagainst_total=. IOAabstain_total=.
brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=63361
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=27275 Name=CPS Technologies Corp. CountryOfInc=USA ticker=CPSH CUSIP=12619F104
MeetingID=874603 MeetingType=Annual Recorddate=20140321 sponsor=Management ISSAgendaItemID=M0552
ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=5 SeqNumber=7 MGMTrec=One Year
voteRequirement=0.01 MeetingDate=20140514 AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency
itemOnAgendaID=9642709 base=NA outstandingShare=13078057 votedFor=0 votedAgainst=0 votedAbstain=0
brokerNonVote=4660536 VotedWithheld=0 votes1yr=6070373 votes2yr=0 votes3yr=0 voteResult=One Year
cusip8=12619F10 IOAfor_total=. IOAagainst_total=. IOAabstain_total=. brokerNonVote_dum=1
IOANonVote_total=. _ERROR_=1 _N_=63917
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=41398 Name=Deere & Company CountryOfInc=USA ticker=DE CUSIP=244199105 MeetingID=1108837
MeetingType=Annual Recorddate=20161230 sponsor=Management ISSAgendaItemID=M0552
ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=3 SeqNumber=14 MGMTrec=One Year
voteRequirement=0.01 MeetingDate=20170222 AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency
itemOnAgendaID=11063122 base=NA outstandingShare=318550477 votedFor=0 votedAgainst=0
votedAbstain=0 brokerNonVote=973526 VotedWithheld=0 votes1yr=206253195 votes2yr=758129
votes3yr=17794508 voteResult=One Year cusip8=24419910 IOAfor_total=. IOAagainst_total=.
IOAabstain_total=. brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=90279
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=43124 Name=Old Holdco, Inc. CountryOfInc=USA ticker=PYXSQ CUSIP=74737V106
MeetingID=1163394 MeetingType=Annual Recorddate=20170616 sponsor=Management ISSAgendaItemID=M0552
ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=4 SeqNumber=6 MGMTrec=One Year
voteRequirement=0.01 MeetingDate=20170810 AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency
itemOnAgendaID=11514244 base=NA outstandingShare=8962891 votedFor=0 votedAgainst=0 votedAbstain=0
brokerNonVote=1294812 VotedWithheld=0 votes1yr=4934389 votes2yr=2770 votes3yr=990410
voteResult=One Year cusip8=74737V10 IOAfor_total=. IOAagainst_total=. IOAabstain_total=.
brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=94289
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=43232 Name=China Green Agriculture, Inc. CountryOfInc=USA ticker=CGA CUSIP=16943W204
MeetingID=1563742 MeetingType=Annual Recorddate=20210730 sponsor=Management ISSAgendaItemID=M0552
ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=4 SeqNumber=10
MGMTrec=Three Years voteRequirement=0.01 MeetingDate=20210830
AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency itemOnAgendaID=14399604 base=NA
outstandingShare=8487629 votedFor=0 votedAgainst=0 votedAbstain=0 brokerNonVote=395198
VotedWithheld=0 votes1yr=15709 votes2yr=26994 votes3yr=4327646 voteResult=Three Years
cusip8=16943W20 IOAfor_total=. IOAagainst_total=. IOAabstain_total=. brokerNonVote_dum=1
IOANonVote_total=. _ERROR_=1 _N_=94961
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=44105 Name=Dover Corporation CountryOfInc=USA ticker=DOV CUSIP=260003108
MeetingID=1127250 MeetingType=Annual Recorddate=20170323 sponsor=Management ISSAgendaItemID=M0552
ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=4 SeqNumber=15 MGMTrec=One Year
voteRequirement=0.01 MeetingDate=20170505 AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency
itemOnAgendaID=11187061 base=NA outstandingShare=155593148 votedFor=0 votedAgainst=0
votedAbstain=0 brokerNonVote=776229 VotedWithheld=0 votes1yr=112261116 votes2yr=356802
votes3yr=12043488 voteResult=One Year cusip8=26000310 IOAfor_total=. IOAagainst_total=.
IOAabstain_total=. brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=96837
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=45334 Name=Dynasil Corporation of America CountryOfInc=USA ticker=DYSL CUSIP=268102209
MeetingID=1107946 MeetingType=Annual Recorddate=20161227 sponsor=Management ISSAgendaItemID=M0552
ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=4 SeqNumber=10 MGMTrec=None
voteRequirement=0.01 MeetingDate=20170223 AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency
itemOnAgendaID=11059063 base=NA outstandingShare=16906265 votedFor=0 votedAgainst=0
votedAbstain=0 brokerNonVote=6614716 VotedWithheld=0 votes1yr=1886870 votes2yr=101904
votes3yr=7429964 voteResult=Three Years cusip8=26810220 IOAfor_total=. IOAagainst_total=.
IOAabstain_total=. brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=99489
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=48463 Name=EMCORE Corporation CountryOfInc=USA ticker=EMKR CUSIP=290846203
MeetingID=1711104 MeetingType=Annual Recorddate=20230112 sponsor=Management ISSAgendaItemID=M0552
ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=4 SeqNumber=8 MGMTrec=One Year
voteRequirement=0.01 MeetingDate=20230310 AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency
itemOnAgendaID=15386106 base=NA outstandingShare=37910860 votedFor=0 votedAgainst=0
votedAbstain=0 brokerNonVote=8818285 VotedWithheld=0 votes1yr=15449939 votes2yr=199488
votes3yr=1246847 voteResult=One Year cusip8=29084620 IOAfor_total=. IOAagainst_total=.
IOAabstain_total=. brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=104014
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=49451 Name=Enzo Biochem, Inc. CountryOfInc=USA ticker=ENZ CUSIP=294100102
MeetingID=1614141 MeetingType=Annual Recorddate=20220225 sponsor=Management ISSAgendaItemID=M0201
ItemDesc=Elect Director Hamid Erfanian BallotItemNumber=2.1 SeqNumber=7 MGMTrec=For
voteRequirement=0.5 MeetingDate=20220408 AgendaGeneralDesc=Elect Director itemOnAgendaID=14652633
base=F+A outstandingShare=48471771 votedFor=0 votedAgainst=0 votedAbstain=0 brokerNonVote=6159602
VotedWithheld=0 votes1yr=. votes2yr=. votes3yr=. voteResult=Pass cusip8=29410010 IOAfor_total=.
IOAagainst_total=. IOAabstain_total=. brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=106041
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
CompanyID=49451 Name=Enzo Biochem, Inc. CountryOfInc=USA ticker=ENZ CUSIP=294100102
MeetingID=1614141 MeetingType=Annual Recorddate=20220225 sponsor=Management ISSAgendaItemID=M0201
ItemDesc=Elect Director Bradley L. Radoff BallotItemNumber=2.2 SeqNumber=8 MGMTrec=For
voteRequirement=0.5 MeetingDate=20220408 AgendaGeneralDesc=Elect Director itemOnAgendaID=14652634
base=F+A outstandingShare=48471771 votedFor=0 votedAgainst=0 votedAbstain=0 brokerNonVote=6159602
VotedWithheld=0 votes1yr=. votes2yr=. votes3yr=. voteResult=Pass cusip8=29410010 IOAfor_total=.
IOAagainst_total=. IOAabstain_total=. brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=106042
NOTE: Division by zero detected at line 794 column 30.
NOTE: Division by zero detected at line 795 column 39.
NOTE: Division by zero detected at line 796 column 39.
WARNING: Limit set by ERRORS= option reached.  Further errors of this type will not be printed.
CompanyID=57605 Name=FONAR Corp. CountryOfInc=USA ticker=FONR CUSIP=344437405 MeetingID=1062094
MeetingType=Annual Recorddate=20160414 sponsor=Management ISSAgendaItemID=M0552
ItemDesc=Advisory Vote on Say on Pay Frequency BallotItemNumber=3 SeqNumber=7 MGMTrec=One Year
voteRequirement=0.01 MeetingDate=20160613 AgendaGeneralDesc=Advisory Vote on Say on Pay Frequency
itemOnAgendaID=10766283 base=NA outstandingShare=15615125 votedFor=0 votedAgainst=0
votedAbstain=0 brokerNonVote=2832783 VotedWithheld=0 votes1yr=11646845 votes2yr=26993
votes3yr=86235 voteResult=One Year cusip8=34443740 IOAfor_total=. IOAagainst_total=.
IOAabstain_total=. brokerNonVote_dum=1 IOANonVote_total=. _ERROR_=1 _N_=123326
NOTE: Missing values were generated as a result of performing an operation on missing values.
      Each place is given by: (Number of times) at (Line):(Column).
      2678 at 793:16     2810 at 793:29     113662 at 793:42   
NOTE: Mathematical operations could not be performed at the following places. The results of the 
      operations have been set to missing values.
      Each place is given by: (Number of times) at (Line):(Column).
      224 at 794:30   224 at 795:39   224 at 796:39   
NOTE: There were 787289 observations read from the data set WORK.VOTE.
NOTE: The data set WORK.VOTE2 has 658500 observations and 35 variables.
NOTE: DATA statement used (Total process time):
      real time           0.65 seconds
      cpu time            0.60 seconds
      

806   
807   
808   * Identifying mangement-friendly votes ;
809   data vote2;
810       set vote2;
811       IOAfriend_total=IOAfor_total;
812       IOAnotfriend_total=IOAagainst_total+IOAabstain_total;
813   run;

NOTE: There were 658500 observations read from the data set WORK.VOTE2.
NOTE: The data set WORK.VOTE2 has 658500 observations and 37 variables.
NOTE: DATA statement used (Total process time):
      real time           0.64 seconds
      cpu time            0.62 seconds
      

814   
815   data vote2;
816       set vote2;
817       if  ISSAgendaItemID="M0201" OR ISSAgendaItemID="M0299" then do;
818           IOAfriend_total=IOAfor_total;
819           IOAnotfriend_total=IOAagainst_total+IOAabstain_total;
820       end;
821       format IOAfriend_total IOAnotfriend_total percentn8.5 ;
822   run;

NOTE: There were 658500 observations read from the data set WORK.VOTE2.
NOTE: The data set WORK.VOTE2 has 658500 observations and 37 variables.
NOTE: DATA statement used (Total process time):
      real time           0.59 seconds
      cpu time            0.56 seconds
      

823   
824   data vote2;
825       set vote2;
826       if  ISSAgendaItemID="S0299" OR ISSAgendaItemID="M0225" then do;
827           IOAnotfriend_total=IOAfor_total;
828           IOAfriend_total=IOAagainst_total+IOAabstain_total;
829       end;
830   run;

NOTE: There were 658500 observations read from the data set WORK.VOTE2.
NOTE: The data set WORK.VOTE2 has 658500 observations and 37 variables.
NOTE: DATA statement used (Total process time):
      real time           0.55 seconds
      cpu time            0.53 seconds
      

831   
832   data vote2;
833       set vote2;
834       if ISSAgendaItemID NE "M0201" OR ISSAgendaItemID NE"M0299" OR ISSAgendaItemID NE
834 ! "S0299" OR ISSAgendaItemID NE "M0225" then do;
835   
836           if  MGMTrec="For" then do;
837               IOAnotfriend_total=IOAagainst_total+IOAabstain_total;
838               IOAfriend_total=IOAfor_total;
839           end;
840           if  MGMTrec="Against" then do;
841               IOAnotfriend_total=IOAfor_total+IOAabstain_total;
842               IOAfriend_total=IOAagainst_total;
843           end;
844   
845           if MGMTrec="Abstain" OR  MGMTrec="Withhold" OR  MGMTrec="Do Not Vote" /*OR
845 ! MGMTrec="None" */ then do;
846               if  Sponsor ="Management" then do;
847                   IOAfriend_total=IOAfor_total;
848                   IOAnotfriend_total=IOAagainst_total+IOAabstain_total;
849               end;
850               if  Sponsor ="Shareholder" then do;
851                   IOAnotfriend_total=IOAfor_total;
852                   IOAfriend_total=IOAagainst_total+IOAabstain_total;
853               end;
854           end;
855       end;
856   
857       if voteresult="Pass" then mgmt_pass=1; else mgmt_pass=0;
858       if ISSAgendaItemID="S0299" AND voteresult="Pass" then mgmt_pass=0; /*opposition slate*/
859       if ISSAgendaItemID="M0225" AND voteresult="Pass" then mgmt_pass=0; /*opposition slate*/
860       if ISSAgendaItemID="S0299" AND voteresult NE "Pass" then mgmt_pass=1;
861       if ISSAgendaItemID="M0225" AND voteresult NE "Pass" then mgmt_pass=1;
862       if IOAfriend_total eq . then delete;
863   run;

NOTE: There were 658500 observations read from the data set WORK.VOTE2.
NOTE: The data set WORK.VOTE2 has 658500 observations and 38 variables.
NOTE: DATA statement used (Total process time):
      real time           0.72 seconds
      cpu time            0.65 seconds
      

864   
865   data vote2;
866       set vote2;
867       year = year(MeetingDate);
868       quarter = qtr(MeetingDate);
869   run;

NOTE: There were 658500 observations read from the data set WORK.VOTE2.
NOTE: The data set WORK.VOTE2 has 658500 observations and 40 variables.
NOTE: DATA statement used (Total process time):
      real time           0.69 seconds
      cpu time            0.68 seconds
      

870   
871   data vote2; set vote2;
872       _check = IOAfriend_total + IOAnotfriend_total;
873       format _check comma8.4 ;
874   run;

NOTE: There were 658500 observations read from the data set WORK.VOTE2.
NOTE: The data set WORK.VOTE2 has 658500 observations and 41 variables.
NOTE: DATA statement used (Total process time):
      real time           0.65 seconds
      cpu time            0.64 seconds
      

875   
876   data _checkvote;
877       set vote2;
878       if _check < 1;
879   run;

NOTE: There were 658500 observations read from the data set WORK.VOTE2.
NOTE: The data set WORK._CHECKVOTE has 1377 observations and 41 variables.
NOTE: DATA statement used (Total process time):
      real time           0.16 seconds
      cpu time            0.15 seconds
      

880   
881   * Import the Agenda Proposal type ;
882   proc import out=agenda
883      datafile = 'C:/Users/hpham13/Data/activism/Agendatype_11152021.xlsx'
884      dbms = XLSX replace;
885   run;

NOTE: One or more variables were converted because the data type is not supported by the V9 
      engine. For more details, run with options MSGLEVEL=I.
NOTE: The import data set has 101 observations and 4 variables.
NOTE: WORK.AGENDA data set was successfully created.
NOTE: PROCEDURE IMPORT used (Total process time):
      real time           0.05 seconds
      cpu time            0.06 seconds
      

886   proc sort data=agenda nodupkey; by ISSAgendaItemID ; run;

NOTE: There were 101 observations read from the data set WORK.AGENDA.
NOTE: 0 observations with duplicate key values were deleted.
NOTE: The data set WORK.AGENDA has 101 observations and 4 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.01 seconds
      

887   
888   * Merge Agenda Proposal type to Voting data ;
889   proc sql;
890       create table vote2 as
891       select a.*, b.proposal_type, b.Proposal
892       from vote2 as a left join agenda as b
893       on a.ISSAgendaItemID=b.ISSAgendaItemID;
WARNING: This CREATE TABLE statement recursively references the target table. A consequence of 
         this is a possible data integrity problem.
NOTE: Table WORK.VOTE2 created, with 658500 rows and 43 columns.

894   quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           2.21 seconds
      cpu time            2.24 seconds
      

895   
896   * merge with announce_date from activism data using CUSIP ;
897   data pilot; set activism.ca_details_95_pilot; run;

NOTE: There were 9262 observations read from the data set ACTIVISM.CA_DETAILS_95_PILOT.
NOTE: The data set WORK.PILOT has 9262 observations and 147 variables.
NOTE: DATA statement used (Total process time):
      real time           0.17 seconds
      cpu time            0.09 seconds
      

898   proc sort data=pilot nodupkey; by  gvkey CAMPAIGN_ID ; run;

NOTE: There were 9262 observations read from the data set WORK.PILOT.
NOTE: 0 observations with duplicate key values were deleted.
NOTE: The data set WORK.PILOT has 9262 observations and 147 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.19 seconds
      cpu time            0.18 seconds
      

899   
900   data pilot;
901       set pilot;
902       keep    CAMPAIGN_ID ANNOUNCE_DATE FILING_DATE END_DATE MEETING_DATE CUSIP gvkey year ;
903       if      MEETING_DATE ne . ;
904   run;

NOTE: There were 9262 observations read from the data set WORK.PILOT.
NOTE: The data set WORK.PILOT has 3443 observations and 8 variables.
NOTE: DATA statement used (Total process time):
      real time           0.08 seconds
      cpu time            0.07 seconds
      

905   
906   * merge campaign data and ISS voting data;
907   proc sql;
908       create  table vote_pilot_1 as
909       select  b.gvkey, b.CAMPAIGN_ID, b.MEETING_DATE, a.*
910       from    vote2 as a join pilot as b
911       on      a.cusip=b.cusip and b.MEETING_DATE=a.MeetingDate ;
NOTE: Table WORK.VOTE_PILOT_1 created, with 26748 rows and 46 columns.

912   quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           0.34 seconds
      cpu time            0.34 seconds
      

913   proc sort   data=vote_pilot_1 nodupkey; by gvkey MeetingDate itemOnAgendaID; run;

NOTE: There were 26748 observations read from the data set WORK.VOTE_PILOT_1.
NOTE: 6647 observations with duplicate key values were deleted.
NOTE: The data set WORK.VOTE_PILOT_1 has 20101 observations and 46 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.05 seconds
      cpu time            0.04 seconds
      

914   
915   proc sql;
916       create table vote_pilot as
917       select * from vote_pilot_1 ;
NOTE: Table WORK.VOTE_PILOT created, with 20101 rows and 46 columns.

918   quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           0.02 seconds
      cpu time            0.03 seconds
      

919   
920   proc datasets nowarn nolist nodetails;
NOTE: Writing HTML Body file: sashtml.htm
921         delete vote_pilot_1 vote_pilot_2 vote vote2 pilot ;
922   run;

NOTE: Deleting WORK.VOTE_PILOT_1 (memtype=DATA).
NOTE: Deleting WORK.VOTE (memtype=DATA).
NOTE: Deleting WORK.VOTE2 (memtype=DATA).
NOTE: Deleting WORK.PILOT (memtype=DATA).
922 !      quit;

NOTE: PROCEDURE DATASETS used (Total process time):
      real time           0.66 seconds
      cpu time            0.46 seconds
      

923   
924   * save data;
925   data save.vavote ; set vote_pilot; run;

NOTE: There were 20101 observations read from the data set WORK.VOTE_PILOT.
NOTE: The data set SAVE.VAVOTE has 20101 observations and 46 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds
      

926   
927   
928   proc printto;
929   run;

