I have a panel data (all listed companies in the US with quarterly data) in which the dependent variable is 1 if the company was recommended on a investment recommendations website, and 0 otherwise. The independent variables are several stock characteristics (e.g. ROE, P/E, sales growth, market capitalisation etc.).
I want to run a logit regression (using pglm package in R) but I'm not sure if I should resample or not. The dependent variable is 1 only in 2.3% of the cases. If I run the regression without resampling, I get significant results but also the intercept is very high (-3.95 at a t value of -134.5). How do you think I should approach this?