Financial indicators of Russian manufacturers_Working capital management
收藏DataCite Commons2026-04-15 更新2026-05-04 收录
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https://data.mendeley.com/datasets/cywvjsr8k6/4
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资源简介：
Panel of 46 302 Russian manufacturing firms (2010-2024; 264 795 obs.) from SPARK (RAS).
Cleaned: non‑positive values removed; 5–95% winsorization; missing filled by industry‑year median.
Eleven indicators (ICP, APP, OC) industry‑adjusted (η² > 5%).
Dependent variable: PCA‑index (five profitability metrics) explaining 71,6% of variance.
H1 – Strategic clusters
Firms form distinct, persistent WCM clusters based on ACP/ICP/APP combinations.
H2-3 – Risk‑return profiles
H2: Conservative cluster (longest CCC) → highest absolute performance.
H3a: Aggressive cluster (shortest CCC) → highest performance growth rates.
H3b: Aggressive cluster (shortest CCC) → highest performance growth rates volatility.
H4 – Anti‑fragility in crises
Aggressive firms outperform in/post‑crisis years (2014, 2020, 2022) – not conservatives.
H5 – U‑shaped CCC–performance
Non‑linear U‑shape exists in all clusters.
提供机构：
Mendeley Data
创建时间：
2026-04-15
