Hello everyone, I am currently in my thesis about Sustainability Reporting Quality. Basically i want to know that if specific characteristics of the board are really have a significant impact on SRQ. In my research, board charateristics represented by Board Age, BODMeeting, BOCMeeting, Board Ethnicity, Independent Comissionaire, ExGovoff, CurGovOff, Board Size, Board Female Director, and Firm Age. This research is basically a panel data research with time period is 2014-2018. So after coding the data, i try to run the regression, OLS, RE, and Fixed Effects. After I run Fixed Effect, I found that Board Ethnicity is ommited because of collinearity. My guess is that happened because Board Ethnicity showed that Board Ethnicity is invariant time variable in my observation because the coding show that the company here have heterogenistic ethnic board (arround 98%). My question is, should I drop this variable before doing the hausman test or just let them be ? Thank you for your attention.
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