Table 1.
The variable definition and description.
Table 2.
Descriptive statistics of the main variables.
Table 3.
The impact of mixed-ownership reform on the strategy choice of SOEs.
Table 4.
The regression results of two-stage 2SLS.
Fig 1.
Before matching.
Fig 2.
After matching.
Table 5.
The regression results after PSM matching.
Table 6.
The regression results of multiple-period forwarded explained variable.
Table 7.
Alternative measures of explained variable.
Table 8.
Alternative measures of explanatory variables.
Table 9.
Alternative empirical model.
Table 10.
The test of the balance effect mechanism.
Table 11.
The test of the synergy effect mechanism.
Table 12.
The group inspection results of external supervision.
Table 13.
The group inspection results of industry competition.
Table 14.
The group inspection results of administrative level.