Country Variable

Hi Stata Experts,

I have a question concerning an idea for my thesis. I have firm-specific data (assets, sales, income etc.) for different firms in different countries from Worldscope. Furhermore, I collected some country-specific control variables (e.g., gdp or litigation index). My idea is to examine the effect of corruption in a country on firm performance.

That means, I have a firm performance measure as dependent variable, the corruption index as independent variable of interest and some firm- and country-specific controls. My problem is that my dataset comprises only 30 countries. Hence, the variable corruption exhibits only 30 different values.

Is it possible to examine my research question when my variable of interest does only have 30 values. Assuming that my corruption coefficient is significant, would that be a valid finding?

Thank you :)