Table 2. Industry distribution Group SIC...

Table 2.

Industry distribution

Group	SIC code	Industry	n	% of n
1	A1 to A4	Agriculture	345	1.51
2	A5; B06 to B11; C13	Mining	830	3.64
3	C14 to C15	Food manufacturing	530	2.33
4	C17 to C24	Machine manufacturing	1,215	5.33
5	C25 to C28	Chemical manufacturing	3,544	15.55
6	C29 to C43	Metal and non-metal	9,593	42.09
7	D44 to D46	Utility	721	3.16
8	E47 to E50	Construction	598	2.62
9	F51 to F52	Retailing	1,145	5.03
10	G53 to G60	Transport	623	2.73
11	H61 to H62	Hotel	90	0.40
12	I63 to I65	IT	1,544	6.77
13	K70; L71	Real estate	995	4.37
14	L72; M73 to M75	Business and research service	450	1.97
15	N77 to N78; O79 to O81	Other service	309	1.36
16	Q83	Health service	48	0.21
17	R85 to R86	Press	212	0.93
Total			22,792	100

Group	SIC code	Industry	n	% of n
1	A1 to A4	Agriculture	345	1.51
2	A5; B06 to B11; C13	Mining	830	3.64
3	C14 to C15	Food manufacturing	530	2.33
4	C17 to C24	Machine manufacturing	1,215	5.33
5	C25 to C28	Chemical manufacturing	3,544	15.55
6	C29 to C43	Metal and non-metal	9,593	42.09
7	D44 to D46	Utility	721	3.16
8	E47 to E50	Construction	598	2.62
9	F51 to F52	Retailing	1,145	5.03
10	G53 to G60	Transport	623	2.73
11	H61 to H62	Hotel	90	0.40
12	I63 to I65	IT	1,544	6.77
13	K70; L71	Real estate	995	4.37
14	L72; M73 to M75	Business and research service	450	1.97
15	N77 to N78; O79 to O81	Other service	309	1.36
16	Q83	Health service	48	0.21
17	R85 to R86	Press	212	0.93
Total			22,792	100

Note(s):

The CSMAR database contains a total of three industry classification coding methods: Industry Code A (six industry categories), Industry Code B (271 industry categories) and Industry Code C (83 industry categories). Following Xie et al. (2021), the industry classification method adopted by this study for Chinese-listed firms is based on Industry Code C (Including: A01-A05, B06-B11, C13-C15, C17-C42, D44-D46, E47 -E50, F51-F52, G53-G56, G58-G60, H61-H62, I63-I65, J66-J69, K70, L71-L72, M73-M75, N77-N78, O80, P82, Q83, R85-R88, S90)

Source(s): Authors’ calculations

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