I have sample a of 138 observations (cross sectional data) and running OLS regression with 6 independent variables.

My adjusted R2 is always coming negative even if I include only 1 independent variable in the model. All the beta coefficients as well as regression models are insignificant. The value of R2 is close to zero.

My queries are:

(a) Is negative adjusted R2 possible? If yes how should I justify it in my study and any references that can be quoted to support my results.

(b) Please suggest what should I do to improve my results? It is not possible to increase the sample size and have already checked my data for any inconsistencies.

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