Financial indicators of Russian manufacturers_Working capital management
收藏DataCite Commons2026-03-18 更新2026-05-04 收录
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https://data.mendeley.com/datasets/cywvjsr8k6/3
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资源简介：
Panel of 46302 Russian manufacturing firms (2010–2024; 264795 obs.) from SPARK (RAS).
Cleaned: non‑positive values removed; 5–95% winsorization; missing filled by industry‑year median.
11 indicators (ICP, APP, OC) industry‑adjusted (η² > 5%).
Dependent variable: PCA‑index (5 profitability metrics) explaining 71.6% of variance.
H1 – Strategic clusters
Firms form distinct, persistent WCM clusters (ACP/ICP/APP combinations).
H2 – Risk‑return profiles
H2a: Conservative cluster (longest CCC) → highest absolute performance.
H2b: Aggressive cluster (shortest CCC) → highest growth rates (higher volatility).
H3 – U‑shaped CCC‑performance
Non‑linear U‑shape exists; optimum differs across clusters.
H4 – Anti‑fragility in crises
Aggressive firms outperform in/post‑crisis (2014, 2020, 2022) – not conservatives.
H5 – Structural crisis shift
Crises alter the importance of WCM components; trade‑dependent strategies suffer, aggressive ones benefit.
提供机构：
Mendeley Data
创建时间：
2026-03-18
