I am conducting a cross-sectional study on UK firms and aim to find (if any) a relationship between performance measures e.g ROA and board diversity while controlling for firm and board characteristics by industry. I have created dummy variables for each industry category. I want to know how I can regress my performance measures against the diversity of each industry category. Would this require creating new variables for the average of each diversity measure for each industry?
I am also unsure of what to infer from the coefficients in the following regression
Where fsize bsize and age are my control variables, roa is my dependent variable, and div is the independent variable with the coefficient of interest.
I am unsure as to what exactly the coefficients represent in the attached photo below
I am also unsure of what to infer from the coefficients in the following regression
Code:
reg roa div fsize bsize age i.industry, robust
I am unsure as to what exactly the coefficients represent in the attached photo below
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