Working Capital Management, Corporate Performance, and Strategic Choices of the Wholesale and Retail Industry in China

Table 9

Margin effects of working capital on performance in different strategies and in the whole industry.

	The whole industry	Hybrid strategy	Terminal market strategy	Middle market strategy
Margin	0.012	0.014	0.013	0.032
Intercept	0.055	0.065	0.063	0.048