In my research project I have to do a regression of the financial risk on the business risk of the year before. As a reference, I have a paper showing the results for several countries. The paper states that, for the country I am interested in, the coefficient of the regression is negative. their year span :1995-2008
I have to perform the same analysis at region level for the country I am interested in. I find a negative lagged correlation coefficient. However, the coefficient in my regression is positive and significant. My year span:2000-20014.
Should I not have a negative coefficient as in the country-level regression (paper). Thank you.