Table 2 Lean inventory strategy and firm... | Emerald Publishing

Table 2

Lean inventory strategy and firm profitability

	ROA			ROS
	M1	M2	M3	M4	M5	M6
Size	2.899	2.659	2.779	2.494^*	2.354^*	2.424^*
Size	(1.625)	(1.55)	(1.492)	(1.141)	(1.101)	(1.07)
Store growth	0.012	0.013	0.014	0.013	0.013	0.014
Store growth	(0.022)	(0.022)	(0.021)	(0.013)	(0.013)	(0.012)
Sales growth	0.24^**	0.198^**	0.202^**	0.157^**	0.132^**	0.135^**
Sales growth	(0.042)	(0.035)	(0.035)	(0.028)	(0.025)	(0.025)
PPE	0.581	0.602	0.795^*	1.045^**	1.057^**	1.17^**
PPE	(0.453)	(0.387)	(0.395)	(0.37)	(0.331)	(0.333)
ADVT	−0.282	−0.272	−0.275	−0.422	−0.416^*	−0.418^*
ADVT	(0.421)	(0.362)	(0.362)	(0.238)	(0.207)	(0.205)
Number of stores	−0.011	−0.004	−0.006	−0.009	−0.006	−0.007
Number of stores	(0.014)	(0.012)	(0.012)	(0.013)	(0.012)	(0.012)
IT	−0.053	−0.035	−0.057^*	−0.041^*	−0.03	−0.043^**
IT	(0.03)	(0.026)	(0.026)	(0.019)	(0.017)	(0.015)
ELI		3.066^*	2.359		1.791^*	1.376
ELI		(1.224)	(1.244)		(0.762)	(0.79)
IT × ELI			0.089^*			0.052^*
IT × ELI			(0.04)			(0.024)
Within R-squared	0.156	0.212	0.224	0.196	0.237	0.246
N	807	807	807	807	807	807

	ROA			ROS
	M1	M2	M3	M4	M5	M6
Size	2.899	2.659	2.779	2.494^*	2.354^*	2.424^*
Size	(1.625)	(1.55)	(1.492)	(1.141)	(1.101)	(1.07)
Store growth	0.012	0.013	0.014	0.013	0.013	0.014
Store growth	(0.022)	(0.022)	(0.021)	(0.013)	(0.013)	(0.012)
Sales growth	0.24^**	0.198^**	0.202^**	0.157^**	0.132^**	0.135^**
Sales growth	(0.042)	(0.035)	(0.035)	(0.028)	(0.025)	(0.025)
PPE	0.581	0.602	0.795^*	1.045^**	1.057^**	1.17^**
PPE	(0.453)	(0.387)	(0.395)	(0.37)	(0.331)	(0.333)
ADVT	−0.282	−0.272	−0.275	−0.422	−0.416^*	−0.418^*
ADVT	(0.421)	(0.362)	(0.362)	(0.238)	(0.207)	(0.205)
Number of stores	−0.011	−0.004	−0.006	−0.009	−0.006	−0.007
Number of stores	(0.014)	(0.012)	(0.012)	(0.013)	(0.012)	(0.012)
IT	−0.053	−0.035	−0.057^*	−0.041^*	−0.03	−0.043^**
IT	(0.03)	(0.026)	(0.026)	(0.019)	(0.017)	(0.015)
ELI		3.066^*	2.359		1.791^*	1.376
ELI		(1.224)	(1.244)		(0.762)	(0.79)
IT × ELI			0.089^*			0.052^*
IT × ELI			(0.04)			(0.024)
Within R-squared	0.156	0.212	0.224	0.196	0.237	0.246
N	807	807	807	807	807	807

Note(s): Standard errors are in parentheses. Cluster-robust standard errors are used. ^**p < 0.01; ^*p < 0.05

Source(s): Authors' own creation