Panel data interpretation

[tboy ani]

Hi , for my dissertation I am looking at how ESG scores leads to increases in Corporate financial performance.My data is composed of 50 firms in 8 years

1.) i Set my data to panel data
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2) I then ran fixed effects and random effects followed by the hausman test and got the following results


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The results suggest that random effects model is suitable , am i Correct ?


3.) my fixed effects results as follows





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4) Then to account for heteroskedasticity , i use clustered robust standard errors

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But now my ESG score variable has decreased significantly , I am not sure what implication this has on my hypothesis that ESG scores affect Tobinsq measure ?

are you able to advise thank you very much

[Carlo Lazzaro]

Toby:
please use CODE delimiters to share what you typed and what Stata gave you back (see the FAQ on this ant other posting-related topics). Thanks.