Main descriptive statistics of the clusters
| Cluster | Variables | Mean | SD | Min | Max |
|---|---|---|---|---|---|
| Cluster 1 (n = 133) | Age | 35.252 | 14.021 | 2 | 112 |
| Size (n employees) | 4.197 | 0.689 | 1.386 | 6.469 | |
| Family firms | 0.526 | 0.499 | 0 | 1 | |
| Current ratio | 4.814 | 2.864 | 0.498 | 27.524 | |
| Quick ratio | 1.116 | 1.409 | 0.000 | 17.469 | |
| Debt equity | 0.430 | 0.456 | 0.023 | 7.754 | |
| Personnel | 22.715 | 11.045 | 0 | 83.716 | |
| ROA | 7.836 | 7.814 | −42.11 | 101.888 | |
| Cluster 2 (n = 236) | Age | 32.424 | 16.827 | 0 | 113 |
| Size (n employees) | 4.558 | 1.000 | 0.693 | 7.796 | |
| Family firms | 0.297 | 0.457 | 0 | 1 | |
| Current ratio | 2.257 | 0.922 | 0.340 | 13.442 | |
| Quick ratio | 0.243 | 0.378 | 0 | 10.058 | |
| Debt equity | 0.910 | 1.629 | −42.449 | 42.121 | |
| Personnel | 19.165 | 11.473 | 0 | 85.945 | |
| ROA | 7.922 | 11.859 | −278.398 | 181.094 | |
| Cluster 3 (n = 262) | Age | 30.553 | 17.927 | 0 | 102 |
| Size (n employees) | 4.812 | 1.170 | 0 | 9.580 | |
| Family firms | 0.309 | 0.462 | 0 | 1 | |
| Current ratio | 1.252 | 0.479 | 0.151 | 6.287 | |
| Quick ratio | 0.091 | 0.162 | 0 | 2.160 | |
| Debt equity | 2.804 | 9.171 | −164.632 | 133.284 | |
| Personnel | 17.503 | 10.874 | 0 | 89.633 | |
| ROA | 4.294 | 8.866 | −113.075 | 58.161 |
| Cluster | Variables | Mean | SD | Min | Max |
|---|---|---|---|---|---|
| Cluster 1 ( | Age | 35.252 | 14.021 | 2 | 112 |
| Size (n employees) | 4.197 | 0.689 | 1.386 | 6.469 | |
| Family firms | 0.526 | 0.499 | 0 | 1 | |
| Current ratio | 4.814 | 2.864 | 0.498 | 27.524 | |
| Quick ratio | 1.116 | 1.409 | 0.000 | 17.469 | |
| Debt equity | 0.430 | 0.456 | 0.023 | 7.754 | |
| Personnel | 22.715 | 11.045 | 0 | 83.716 | |
| ROA | 7.836 | 7.814 | −42.11 | 101.888 | |
| Cluster 2 ( | Age | 32.424 | 16.827 | 0 | 113 |
| Size (n employees) | 4.558 | 1.000 | 0.693 | 7.796 | |
| Family firms | 0.297 | 0.457 | 0 | 1 | |
| Current ratio | 2.257 | 0.922 | 0.340 | 13.442 | |
| Quick ratio | 0.243 | 0.378 | 0 | 10.058 | |
| Debt equity | 0.910 | 1.629 | −42.449 | 42.121 | |
| Personnel | 19.165 | 11.473 | 0 | 85.945 | |
| ROA | 7.922 | 11.859 | −278.398 | 181.094 | |
| Cluster 3 ( | Age | 30.553 | 17.927 | 0 | 102 |
| Size (n employees) | 4.812 | 1.170 | 0 | 9.580 | |
| Family firms | 0.309 | 0.462 | 0 | 1 | |
| Current ratio | 1.252 | 0.479 | 0.151 | 6.287 | |
| Quick ratio | 0.091 | 0.162 | 0 | 2.160 | |
| Debt equity | 2.804 | 9.171 | −164.632 | 133.284 | |
| Personnel | 17.503 | 10.874 | 0 | 89.633 | |
| ROA | 4.294 | 8.866 | −113.075 | 58.161 |
Source(s): Authors’ own creation