If you have 20 parameters, you should probably compare the effect sizes first. If there are no outliers, p=0.05 or p=0.001 can't make the result important.
> no p-value can reveal the plausibility, presence, truth, or importance of an association or effect. Therefore, a label of statistical significance does not mean or imply that an association or effect is highly probable, real, true, or important. Nor does a label of statistical nonsignificance lead to the association or effect being improbable, absent, false, or unimportant. Yet the dichotomization into “significant” and “not significant” is taken as an imprimatur of authority on these characteristics. In a world without bright lines, on the other hand, it becomes untenable to assert dramatic differences in interpretation from inconsequential differences in estimates. As Gelman and Stern (2006 Gelman, A., and Stern, H. (2006), “The Difference Between ‘Significant’ and ‘Not Significant’ Is Not Itself Statistically Significant,” The American Statistician, 60, 328–331. DOI: 10.1198/000313006X152649. ) famously observed, the difference between “significant” and “not significant” is not itself statistically significant.
https://www.tandfonline.com/doi/full/10.1080/00031305.2019.1...
> no p-value can reveal the plausibility, presence, truth, or importance of an association or effect. Therefore, a label of statistical significance does not mean or imply that an association or effect is highly probable, real, true, or important. Nor does a label of statistical nonsignificance lead to the association or effect being improbable, absent, false, or unimportant. Yet the dichotomization into “significant” and “not significant” is taken as an imprimatur of authority on these characteristics. In a world without bright lines, on the other hand, it becomes untenable to assert dramatic differences in interpretation from inconsequential differences in estimates. As Gelman and Stern (2006 Gelman, A., and Stern, H. (2006), “The Difference Between ‘Significant’ and ‘Not Significant’ Is Not Itself Statistically Significant,” The American Statistician, 60, 328–331. DOI: 10.1198/000313006X152649. ) famously observed, the difference between “significant” and “not significant” is not itself statistically significant.