《Table 1:Definitions of Matching Variables》

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《An Empirical Research on Mixed-Ownership Reform and SOE Innovation: Evidence from China's Industrial Enterprises》

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In equation（5），P is the probability of SOE ownership reform，i.e.propensity score.Based on this equation，we may obtain the propensity score P value of each and every SOE i for mixed-ownership reform，and then perform matching between treatment-group and control-group firms according to the similarity of P values.Where，is matching variables or covariates，i.e.factors affecting both the reform and corporate innovation activities.Based on existing studies，we select following primary variables as matching variables（refer to Table 1 for variable meanings）:Corporate productivity，sales revenue，fixed asset ratio，capital intensity，profit-to-assets ratio，and debt-to-assets ratio.