I'm performing some panel regressions with time dummy variables. In the results i see the Wald test. How do i interpret its results??
 
 
Test di Wald per la significativitą congiunta delle dummy temporali
  Statistica test asintotica: Chi-quadro(3) = 75,8035
  con p-value = 2,43713e-016
 
 
Another question: my indipendent variable is the sensibility of the Black and Scholes value of stock options to the volatility of stock returns (VEGA). Should i use the log of Vega? Why?
 
Thanks very much