What do I use

Economics, finance and accounting

Firm performance, market studies, policy evaluation, organisational research.

The usual order: Assemble the panel - choose the specification with a test, not an assertion - check the residuals - report the diagnostics.

Your question, and what answers it

The Hausman test decides, alongside the poolability F and the Breusch-Pagan LM. Report all three.

In ZStat: open your study, go to Analysis, and choose panel regression.

What goes wrong in economics, finance and accounting

Adopting fixed effects with no Hausman statistic. That asserts a modelling decision rather than making one.
Durbin-Watson computed across the boundary between one firm and the next, which measures the sort order rather than autocorrelation.
Judging a cross-sectional model by R-squared. A value of .10 can accompany a coefficient that matters.

ZStat runs these checks whether or not you ask, and stops the analysis when one of them would make the result misleading. You do not have to remember this list.

Other fields

Medicine and clinical research Public health and epidemiology Psychology and behavioural science Education Agriculture and food science Urban planning, estate management and architecture Engineering, manufacturing and quality Sociology, development and social work

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