Constant in a Fixed Effects Model

[zaineb belkhiria]

Hello everyone.
I have questions and I hope you could assist me.
while estimating with a fixed effects model, I noticed that the output contains a term "_cons".
Code :
xtreg LEVERAGE GD BI BoardSize DUALITY FIRMSIZE ROA TANGIBLEASSETS GROWTHOPPORTNITIES LIQUIDITYRATIO , fe i( i ) vce(r)

If I understood correctly this term : it presents the sum of the two terms ; intercept + average of the individual fixed effects. The term "_cons" is then the estimate of the intercept knowing that the average of the individual fixed effects is null
what I have already understood is correct ?
if not, please do not hesitate to give me the right and correct information.
Thank you for your time and help.

[Carlo Lazzaro]

Zaineb:
the usual source rekated to this topic is: https://stats.oarc.ucla.edu/stata/fa...d-by-xtreg-fe/

[zaineb belkhiria]

Thank you Sir

[Carlo Lazzaro]

Zaineb:
Carlo is enough. Thanks!