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Table A1. 
Variable List and Definitions
VariableDefinition
Firm-level Variables 
PCM (Value added − payroll)/Value added 
Market share Sales by firm i/Total domestic sales of industry j at the 4-digit industry level 
Capital intensity Log(Capital stock/Total number of employees) 
Relative TFP TFP for firm i/Average TFP in industry j at the 4-digit industry level 
Export intensity Export/Total sales 
R&D intensity R&D expenditure/Total sales 
Skill share Number of S&T personnel/Total number of employees 
Firm size Log (Real total sales) 
Industry-level Variables 
FDI penetration Sales by foreign firms/Total domestic sales at the 4-digit industry level 
Herfindahl index (H) Sum of squared firm-level (domestic) market shares at the 4-digit industry level 
VariableDefinition
Firm-level Variables 
PCM (Value added − payroll)/Value added 
Market share Sales by firm i/Total domestic sales of industry j at the 4-digit industry level 
Capital intensity Log(Capital stock/Total number of employees) 
Relative TFP TFP for firm i/Average TFP in industry j at the 4-digit industry level 
Export intensity Export/Total sales 
R&D intensity R&D expenditure/Total sales 
Skill share Number of S&T personnel/Total number of employees 
Firm size Log (Real total sales) 
Industry-level Variables 
FDI penetration Sales by foreign firms/Total domestic sales at the 4-digit industry level 
Herfindahl index (H) Sum of squared firm-level (domestic) market shares at the 4-digit industry level 
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