Interpreting Panel data analysis

Hi there,

This is my first statistical question on this forum. I am busy with my thesis, so I think a couple more will follow in the coming months.

I have some results from a panel data analysis. My outputs are in the attachment. I have a simple question on how I have to interpret these results. As you can see in the first regression we have included year fixed effects and industry fixed effects and in the second one we have included year fixed effects and firm fixed effects. The dependent variable is either a 1 or a 0 (if the wave occurs it is 1). Between brackets are the P-values. (note: the NCTA is a natural logarithm).

How do I interpret these results? Can anyone help?

Many thanks in advance.

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