Table 2: MNP Correlation Matrix Fraction FinancialLeverage Downgrade Cashflow_assets Collateral BookToMKT Blockownership IntraIndustry ln_size Num_analysts Private_Public Rel_dealsize Runup Upgrade of cash 1.000 Fraction of cash FinancialLeverage -0.244 1.000 -0.091 0.090 1.000 Downgrade Cashflow_assets 0.379 0.056 0.000 1.000 -0.127 0.348 0.167 0.073 1.000 Collateral BookToMKT -0.095 -0.246 0.191 -0.414 0.099 1.000 -0.215 0.190 0.201 -0.089 0.126 0.199 1.000 Blockownership IntraIndustry -0.179 0.142 0.084 -0.090 0.072 0.079 0.135 1.000 Ln_size 0.167 -0.345 -0.168 0.097 -0.236 -0.103 -0.423 -0.087 1.000 -0.205 -0.031 -0.008 -0.050 -0.011 0.054 -0.024 0.044 -0.043 1.000 Num_analysts Private_Public -0.021 0.017 0.112 -0.072 -0.046 -0.045 -0.061 0.198 -0.281 -0.169 1.000 -0.205 0.351 0.050 -0.040 0.210 -0.089 0.228 -0.004 -0.324 0.224 -0.143 1.000 Rel_dealsize Runup -0.023 0.189 0.107 -0.097 0.611 0.163 0.101 -0.067 -0.156 -0.066 -0.007 0.233 1.000 Upgrade -0.052 -0.097 -0.317 0.089 -0.140 -0.069 -0.142 0.051 0.191 0.090 -0.082 -0.085 -0.229 1.000
Table 2: MNP Correlation Matrix Fraction of cash FinancialLeverage Downgrade Cashflow_assets Collateral BookToMKT Blockownership IntraIndustry ln_size Num_analysts Private_Public Rel_dealsize Runup Upgrade Fraction of cash 1.000 FinancialLeverage -0.244 1.000 Downgrade -0.091 0.090 1.000 Cashflow_assets 0.379 0.056 0.000 1.000 Collateral -0.127 0.348 0.167 0.073 1.000 BookToMKT -0.095 -0.246 0.191 -0.414 0.099 1.000 Blockownership -0.215 0.190 0.201 -0.089 0.126 0.199 1.000 IntraIndustry -0.179 0.142 0.084 -0.090 0.072 0.079 0.135 1.000 Ln_size 0.167 -0.345 -0.168 0.097 -0.236 -0.103 -0.423 -0.087 1.000 Num_analysts -0.205 -0.031 -0.008 -0.050 -0.011 0.054 -0.024 0.044 -0.043 1.000 Private_Public -0.021 0.017 0.112 -0.072 -0.046 -0.045 -0.061 0.198 -0.281 -0.169 1.000 Rel_dealsize -0.205 0.351 0.050 -0.040 0.210 -0.089 0.228 -0.004 -0.324 0.224 -0.143 1.000 Runup -0.023 0.189 0.107 -0.097 0.611 0.163 0.101 -0.067 -0.156 -0.066 -0.007 0.233 1.000 Upgrade -0.052 -0.097 -0.317 0.089 -0.140 -0.069 -0.142 0.051 0.191 0.090 -0.082 -0.085 -0.229 1.000
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