| Total | Positive | Negative | Positive | Negative | |
VARIABLES | CARs10_10 | CARs10_10 | CARs10_10 | CARs10_10 | CARs10_10 | |
producing | −0.0324** | −0.0227 | −0.0131 | 0.0371 | −0.528*** | |
| (0.0137) | (0.0195) | (0.0137) | (0.0454) | (0.137) | |
consuming | −0.0234* | −0.0332 | −0.00403 | −0.0112 | 0.116 | |
| (0.0139) | (0.0202) | (0.0127) | (0.0588) | (0.133) | |
banking | −0.0151 | −0.00722 | −0.0321*** | −0.00187 | 0.105 | |
| (0.0150) | (0.0194) | (0.0101) | (0.0458) | (0.109) | |
Percent change | −0.109 | −0.155 | −0.140 | 0.0705 | −0.513*** | |
| (0.117) | (0.110) | (0.117) | (0.108) | (0.110) | |
prod*percent change | 0.261 | 0.718*** | −0.418** |
|
| |
| (0.167) | (0.194) | (0.189) |
|
| |
consume*percent | 0.134 | 0.128 | 0.114 |
|
| |
change | (0.164) | (0.317) | (0.151) |
|
| |
Bank*percent change | 0.172 | 0.194 | 0.328** |
|
| |
(0.180) | (0.212) | (0.133) |
|
| ||
prod*velocity |
|
|
| 0.0122 | −0.185*** | |
(logged) |
|
|
| (0.00933) | (0.0491) | |
consume*velocity |
|
|
| 0.00643 | 0.0428 | |
(logged) |
|
|
| (0.0135) | (0.0472) | |
Bank*velocity |
|
|
| 0.00170 | 0.0468 | |
(logged) |
|
|
| (0.0101) | (0.0422) | |
Variation (logged) | −0.0276 | −0.0240 | 0.129** | −0.0266 | 0.355*** | |
| (0.0192) | (0.0193) | (0.0521) | (0.0206) | (0.0647) | |
Velocity (logged) | −0.000662 | −5.95e−05 | −0.0275 | −0.00392 | 0.0599* | |
| (0.00401) | (0.00405) | (0.0189) | (0.00755) | (0.0347) | |
Assets (logged) | 0.000488 | −0.00118 | 0.00484 | −0.00126 | 0.00526** | |
| (0.00364) | (0.00597) | (0.00321) | (0.00617) | (0.00224) | |
Debt/Equity | 0.00682 | 0.00393 | 0.00462 | 0.00820 | 0.00397 | |
(logged) | (0.00509) | (0.00561) | (0.00623) | (0.00550) | (0.00591) | |
RUNWAY | 0.0188 | −0.0130 | 0.0914 | −0.0420 | 0.0702 | |
| 0.000488 | −0.00118 | 0.00484 | −0.00126 | 0.00526** | |
Constant | 0.0545 | 0.0703 | −0.376** | 0.0638 | −0.566*** | |
| (0.0625) | (0.0909) | (0.155) | (0.0971) | (0.134) | |
Observations | 123 | 66 | 57 | 66 | 57 | |
R-squared | 0.115 | 0.287 | 0.493 | 0.165 | 0.658 |