State-owned capital participation and customer concentration in private firms: Evidence from China

The empirical process consists of seven main steps, each of which corresponds to the empirical analysis in the paper in turn. Firm-level financial and corporate governance data are obtained from the CSMAR database, and macroeconomic data are sourced from the China Statistical Yearbook. All tables can be obtained by running "code.do." We have clarified all tables and figures in the do-file.本实证研究流程共包含七个核心步骤，各步骤依次对应论文中的实证分析环节。企业层面的财务与公司治理数据取自国泰安经济金融研究数据库（CSMAR），宏观经济数据来源于《中国统计年鉴》。所有表格均可通过运行`code.do`获取，我们已在该do文件中对所有表格与图形进行了明确说明。