Results interpretation 3 or more dummy variable

#1
Hello,
I'm trying to interpret the results of my regression but I do have some trouble. My Y is the performance of firms during 15 years
I have dummy variable with more than 2 value.
For example:
0 when the company exit before the crisis
1 when the company exit during the crisis
2 when the company exit after the crisis
The p-value is 0, so it is significant and the coefficient is -5,02, I don't know how should I interpret.

The same for a control variable industry, 0 for Financial, 1 industrial ... 8 for telecom and a coefficient of 5,7. This mean that depending on the industry the performance of companies is positively impacted ?

Please can you help me to figure this out
 

Karabiner

TS Contributor
#2
A dummy variable cannot have values from 0 to2, or from 0 to 8. Maybe you would like
to do a web search for the definition of a dummy variable and for dummy coding in regression analysis.

With kind regards

Karabiner
 

Karabiner

TS Contributor
#4
Maybe you would like to do a web search for dummy coding of categorical variables in regression.

Or you simply perform a two-factorial analysis of variance.

With kind regards

Karabiner
 

noetsi

Fortran must die
#6
Normally a dummy variable only has two levels (normally they are 0 and 1). If you have a categorical variable with 3 levels you create two dummies (with 4 levels you create 3 etc).

There are F tests, that tells you if a categorical variable made up of multiple dummies is significant on its own. This will mean of course at least one dummy should be significant.