The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Variable | DM | DK | DG | DJ | DL | DA |
---|---|---|---|---|---|---|

Size of the enterprise | 6.94 (1.22)^{b} | 8.14 (0.61)^{b} | 7.20 (0.94)^{b} | 6.35 (0.59)^{b} | 7.44 (0.97)^{b} | 5.69 (0.47)^{b} |

Fixed assets share | − 0.56 (0.65) | − 1.31 (0.37)^{b} | − 0.90 (0.39) | − 1.54 (0.32)^{b} | − 2.12 (0.50)^{b} | − 1.10 (0.22)^{b} |

Current liquidity ratio | 3.56 (3.63) | − 0.12 (1.46) | − 0.09 (0.09) | − 1.62 (0.70) | − 0.22 (0.11) | 0.16 (0.20) |

Gross profitability of sales | 6.65 (1.10)^{b} | 5.70 (0.39)^{b} | 4.70 (0.53)^{b} | 5.12 (0.55)^{b} | 4.74 (0.51)^{b} | 4.91 (0.37)^{b} |

Share of borrowed capital | − 4.59 (1.06)^{b} | − 5.95 (0.55)^{b} | − 5.84 (0.58)^{b} | − 5.59 (0.48)^{b} | − 6.20 (0.56)^{b} | − 6.76 (0.42)^{b} |

Average interest rates | − 1.36 (0.21)^{b} | − 0.58 (0.10)^{b} | − 0.32 (0.13) | − 0.77 (0.11)^{b} | − 0.48 (0.12)^{b} | − 0.44 (0.08)^{b} |

Average annual exchange rate | 0.71 (0.23)^{a} | − 0.04 (0.11) | 0.26 (0.15) | 0.08 (0.12) | − 0.23 (0.13) | − 0.12 (0.09) |

Gross profitability of sales * ShareFO | − 1.22 (0.26)^{b} | − 0.39 (0.14)^{a} | − 0.46 (0.16)^{a} | − 0.61 (0.14)^{b} | − 0.43 (0.17) | − 0.49 (0.10)^{b} |

Share of borrowed capital * ShareFO | 0.05 (0.60) | − 1.64 (0.44)^{b} | − 2.09 (0.71)^{a} | − 0.65 (0.46) | 0.84 (0.44) | − 0.61 (0.38) |

Share of borrowed capital * ShareFO * Ruble’s depreciation | − 1.47 (0.22)^{b} | − 0..80 (0.23)^{b} | − 0.94 (0.18)^{b} | − 0.85 (0.15)^{b} | − 1.14 (0.26)^{b} | − 0.43 (0.17) |

Average interest rates * ShareFO | 2.61 (0.85)^{a} | − 0.01 (0.48) | − 0.63 (0.66) | − 0.42 (0.46) | 1.84 (0.49)^{b} | − 0.42 (0.34) |

Average annual exchange rate * ShareFO | 1.00 (0.25)^{b} | 0.58(0.15)^{b} | 0.49 (0.16)^{a} | 0.38 (0.15) | 0.30 (0.19) | 0.08 (0.12) |

Intercept | 4.39 (0.64)^{b} | 7.49 (0.21)^{b} | 5.01 (0.35)^{b} | 6.93 (0.20)^{b} | 6.17 (0.22)^{b} | 5.41 (0.10)^{b} |

Model 1 R^{2} | 0.097 | 0.120 | 0.062 | 0.080 | 0.084 | 0.040 |

Model 2 R^{2} | 0.277 | 0.238 | 0.146 | 0.198 | 0.158 | 0.111 |

Model 3 R^{2} | 0.330 | 0.327 | 0.248 | 0.284 | 0.2.44 | 0.234 |

Model 4 R^{2} | 0.369 | 0.332 | 0.252 | 0.292 | 0.251 | 0.238 |

Model 5 R^{2} | 0.403 | 0.334 | 0.256 | 0.297 | 0.253 | 0.243 |

Model 6 R^{2} | 0.468 | 0.354 | 0.292 | 0.313 | 0.281 | 0.247 |

Model 7 R^{2} | 0.508 | 0.358 | 0.298 | 0.315 | 0.288 | 0.247 |

∆R^{2} of production efficiency^{a} | 0.214 | 0.12 | 0.088 | 0.123 | 0.076 | 0.076 |

∆R^{2} of financial factors^{b} | 0.197 | 0.118 | 0.148 | 0.112 | 0.128 | 0.131 |

Including—internal | 0.118 | 0.109 | 0.138 | 0.102 | 0.114 | 0.127 |

External | 0.079 | 0.009 | 0.01 | 0.01 | 0.014 | 0.004 |

Number of enterprises | ||||||

Total | 303 | 1070 | 728 | 1113 | 869 | 2051 |

FO | 56 | 78 | 87 | 73 | 52 | 124 |

JO | 25 | 51 | 44 | 58 | 43 | 73 |

RO | 222 | 941 | 597 | 982 | 774 | 1854 |