The effects of sales surprise on inventory turnover: An empirical study

Figures & data

Table 1. Absolute error rates (source: authors)

	Mean	Median	Std. Dev.	Freq.
Abs(ESLF)	0.142	0.103	0.137	1022
Abs(ESCH)	0.183	0.125	0.179	1016
Abs(ESG)	0.206	0.160	0.194	995
Abs(ESRW)	0.113	0.071	0.130	1002
Average	0.161	0.114	0.160	998

Table 2. Descriptive statistics of the chosen variables

stats	lnITO	lnGMN	lnCI	lnSSLF	lnSSRW	lnITOlag	YEARDUM
Mean	1.188	−1.024	−0.523	−0.051	0.050	1.208	0.5
Median	1.204	−0.970	−0.446	0.010	0.027	1.235	0.5
Min	−0.471	−1.802	−1.952	−10.731	−1.051	−0.414	0
Max	2.614	−0.350	−0.080	2.002	2.019	2.614	1
S.D.	0.553	0.296	0.336	1.023	0.300	0.554	0.501
Skewness	−0.210	−0.403	−1.733	−8.520	2.789	−0.218	0
Kurtosis	3.084	2.652	6.779	84.666	22.308	3.161	1
N	676	660	672	670	672	674	676

Table 3. Correlation coefficient

	lnITO	lnGMN	lnCI	lnSSLF	lnSSRW	lnITOlag	YEARDUM	VIF
lnITO	1
lnGMN	−0.236*	1						1.16
lnCI	0.443*	0.117	1					1.28
lnSSLF	−0.019	0.051	−0.032	1				1.03
lnSSRW	0.157*	0.031	0.07	−0.006	1			1.02
lnITOlag	0.931*	−0.269*	0.404*	−0.065	0.054	1		1.37
YEARDUM	−0.008	0.022	0.009	−0.145*	−0.103	−0.028	1	1.04

Note: *denote p < 0.05.

Figure 1. Robustness test for Model 1.

Table 4. Results of the fixed-effect model

	Model 1	Model 2	Model 3	Model 4
lnGMN	−0.144 (0.088)	−0.175*** (0.084)	−0.288*** (0.084)	−0.281*** (0.084)
lnCI	0.968*** (0.174)	0.942*** (0.165)	1.082*** (0.158)	1.049*** (0.158)
lnSSLF	0.011 (0.009)	0.007 (0.009)
lnSSRW			0.282*** (0.057)	0.236*** (0.062)
lnITOlag		−0.199*** (0.060)		−0.108* (0.061)
YEARDUM	−0.009 (0.015)	−0.016 (0.014)	0.006 (0.014)	−0.000 (0.014)
Constant	1.553*** (−0.12)	1.752*** (−0.129)	1.443*** (−0.11)	1.568*** (−0.131)
No. of obs.	672	660	664	668
Prob > F	0.000	0.000	0.000	0.000
Fit statistics
R^2	0.253	0.330	0.394	0.412
AIC	−483.157	−503.204	−525.484	−529.914
BIC	−466.567	−483.295	−508.894	−510.005

Note: Standard errors are in parentheses; P-values denote *p<0.1, **p<0.05, ***p<0.01.

Data availability statement

The data that support the findings of this study are available at the Albertina database homepage, www.bisnode.cz/produkty/albertina/