The R Square value from my panel data regression is very high, is this true or is there a problem in it?

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Mochammad Raihan Hibatullah

FEM with GLS

Onipe Adabenege Yahaya

the r square is 0.995887, and this is the result of multicollinearity test

Chuck A Arize

A very high R-squared in panel data regression indicates that the independent variables explain a large portion of the variation in the dependent variable, which is generally good. However, it could also suggest overfitting or issues with data quality or model complexity. Further analysis is needed to ensure the robustness and validity of the results.