I am having serious trouble understanding the results of my Fixed Effects panel regression. I am using two fixed effects (on year and regions) and I get a negative Adjusted R2 (i am using the plm package in R). Why? Please find a screenshot of my output below.
I think I am not prone to the usual mistake - all my variables are fairly time variant. Other than I could not find useful explanations for my problem.
Might it have something to do with the unbalancedness of the panel?
Any suggestions would be wonderful!