I am currently conducting research using a panel data - fixed effect regression model with approximately 15,000 data observations before data cleansing. However, for one of the variables (an independent variable with continuous data type), there are quite a few data points with a value of 0 (around 6,000 observations). These zero values are not missing values.

Can I still proceed with the analysis using panel data - fixed effect?

Are there any specific steps I should take to address this issue?

Thanks.

Note: I would greatly appreciate it if there is any reference literature discussing this issue