| Total | Positive | Negative | Positive | Negative |
VARIABLES | CARs10_10 | CARs10_10 | CARs10_10 | CARs10_10 | CARs10_10 |
recession | 0.0131 | 0.000621 | −0.0170 | −0.00586 | −0.385*** |
| (0.0169) | (0.0142) | (0.0573) | (0.0156) | (0.0903) |
producing | −0.0283* | −0.00193 | −0.0330 | 0.0372 | −0.520*** |
| (0.0159) | (0.0169) | (0.0250) | (0.0390) | (0.180) |
consuming | −0.00759 | −0.0261 | 0.0247 | −0.0121 | 0.238** |
| (0.0164) | (0.0191) | (0.0209) | (0.0549) | (0.115) |
banking | 0.00911 | −0.0231 | 0.0603 | −0.0218 | 1.025*** |
| (0.0174) | (0.0185) | (0.0410) | (0.0400) | (0.355) |
Percent change | −0.0424 | −0.163 | 0.0786 | 0.0814 | −0.640*** |
| (0.143) | (0.104) | (0.197) | (0.109) | (0.126) |
prod*percent change | 0.369* | 0.632*** | 0.0251 |
|
|
| (0.195) | (0.169) | (0.299) |
|
|
consume*percent | 0.0194 | 0.145 | −0.0956 |
|
|
change | (0.196) | (0.302) | (0.167) |
|
|
Bank*percent change | −0.438** | 0.286 | −1.215*** |
|
|
(0.207) | (0.193) | (0.425) |
|
| |
prod*velocity |
|
|
| 0.0103 | −0.187*** |
(logged) |
|
|
| (0.00882) | (0.0648) |
Consume*velocity |
|
|
| 0.00464 | 0.0810* |
(logged) |
|
|
| (0.0135) | (0.0417) |
Bank*velocity |
|
|
| 0.00123 | 0.370*** |
|
|
|
| (0.00958) | (0.124) |
Variation (logged) | −0.0164 | −0.0314 | 0.0484 | −0.0311 | 0.413*** |
| (0.0231) | (0.0196) | (0.0651) | (0.0204) | (0.0928) |
Velocity (logged) | 0.00320 | −0.000185 | −0.0445 | −0.00322 | 0.0381 |
| (0.00520) | (0.00390) | (0.0295) | (0.00743) | (0.0436) |
Assets (logged) | 0.00366 | 0.00220 | 0.0110 | 0.00232 | 0.0116 |
| (0.00444) | (0.00531) | (0.00971) | (0.00535) | (0.00817) |
Debt/Equity | 0.000227 | 0.000547 | −0.00320 | 0.00361 | −0.00125 |
(logged) | (0.00602) | (0.00524) | (0.00875) | (0.00528) | (0.00727) |
RUNWAY | 0.0714* | −0.0383 | 0.0991 | −0.0640 | 0.113 |
| (0.0415) | (0.0588) | (0.0934) | (0.0635) | (0.0693) |
Constant | −0.00651 | 0.0397 | −0.362 | 0.0314 | −0.828*** |
| (0.0786) | (0.0857) | (0.244) | (0.0900) | (0.224) |
Observations | 170 | 96 | 74 | 96 | 74 |
R-squared | 0.158 | 0.244 | 0.502 | 0.164 | 0.620 |