Hello,

I am running a fe regression on panel data and had some basic questions on how to interpret the results:
1. R-sq within group is just 0.0306 seems to be extremely small. How should I be interpreting this number?
2. There are 2 F-values i,e, F(12,1099) with value 2.89 and F(122, 1099) with value 19.64 . My understanding is that the second one is a reflection of the quality of the overall model. Would that be a correct assumption? If so, what does the first F statistic represent?

(In case my questions are too basic my apologies. Please feel free to point me to any book material where I could find the answers. Thank you.

Code:
. xtreg ROA_win05 Ln_Revenue Ln_LTDTA CoAge TPSD wGDPpc wCPI wDCF wExpgr wGDPgr wCons c.l1.G
> SD##c.l1.GSD if FOREIGNSALESTOTALSALES >10 & Year_ < YearInactive, fe 

Fixed-effects (within) regression               Number of obs     =      1,234
Group variable: n_CUSIP                         Number of groups  =        123

R-sq:                                           Obs per group:
     within  = 0.0306                                         min =          1
     between = 0.4929                                         avg =       10.0
     overall = 0.3306                                         max =         18

                                                F(12,1099)        =       2.89
corr(u_i, Xb)  = 0.3905                         Prob > F          =     0.0006

-------------------------------------------------------------------------------
    ROA_win05 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
--------------+----------------------------------------------------------------
   Ln_Revenue |   2.073987   .6697842     3.10   0.002     .7597872    3.388188
     Ln_LTDTA |  -.7476576   .1945061    -3.84   0.000    -1.129303   -.3660123
        CoAge |  -.0010398   .0901846    -0.01   0.991    -.1779934    .1759137
         TPSD |  -.9328759   .9147456    -1.02   0.308    -2.727721    .8619692
       wGDPpc |  -.0000301   .0001556    -0.19   0.847    -.0003354    .0002753
         wCPI |  -.2623995   .2668114    -0.98   0.326    -.7859167    .2611178
         wDCF |  -2.71e-14   1.20e-12    -0.02   0.982    -2.39e-12    2.33e-12
       wExpgr |   .1684812   .0990232     1.70   0.089    -.0258147    .3627772
       wGDPgr |  -.3395405   .2691567    -1.26   0.207    -.8676594    .1885785
        wCons |  -5.39e-14   4.31e-13    -0.13   0.900    -8.99e-13    7.91e-13
              |
          GSD |
          L1. |   7.670794   3.519331     2.18   0.029     .7654273    14.57616
              |
cL.GSD#cL.GSD |  -5.572459   2.683354    -2.08   0.038    -10.83754   -.3073827
              |
        _cons |  -39.89984   13.55392    -2.94   0.003    -66.49434   -13.30535
--------------+----------------------------------------------------------------
      sigma_u |  16.843882
      sigma_e |  7.0694025
          rho |  .85023217   (fraction of variance due to u_i)
-------------------------------------------------------------------------------
F test that all u_i=0: F(122, 1099) = 19.64                  Prob > F = 0.0000