Significance Level of Panel Data Regression

[Jakob Buschsieweke]

Hello,

I ran reghdfe over panel data with 20,300 observations and 18 variables. The results show that the independent variable is significant at 5% level although the t statistic value is greater than 2.58. Is there any plausible explanation for this? Unfortunately I did not find anything in regard to this question.

Thank your very much in advance!

Kind regards
Jakob

[Carlo Lazzaro]

Jakob:
degrees of freedom?

. di ttail(100,2.85)
.00265492

. di ttail(10,2.85)
.00862504

. di ttail(1,2.85)
.1074156

.