Panel A: Sample Restriction
Firms   Firm-Days
Description    Obs.   Obs.
Observations from 10 January to 31 March 2020 with CSMAR and RESSET data   3635  187,030
Less: financial companies   −108  −5522
Less: missing data for measuring variables   −52  −2703
Final sample   3475  178,805
Panel B: Distribution by Month
Firm-Days   CIPHT = 0   CIPHT = 1
Month   Obs.   Obs.   Obs.
January  34,147  33,910  237
February  68,645  21,675  46,970
March  76,013  58,875  17,138
Total  178,805  114,460  64,345
Panel C: Distribution by Industry
Firm-Days   CIPHT = 0   CIPHT = 1
Industry   Obs.   Obs.   Obs.
Accommodation and food  468  300  168
Comprehensive  1092  706  386
Construction  4775  2787  1988
Culture, sports, and entertainment  2953  1808  1145
Education  416  236  180
Farming, forestry, animal husbandry, and fishery  2027  1464  563
Health and social work  572  353  219
Information transmission, software, and information technology services  14,413  8582  5831
Leasing and business services  2688  1514  1174
Manufacturing  115,676  74,983  40,693
Mining  3578  2516  1062
Production and supply of electricity, heat, gas, and water  5344  3573  1771
Real estate  5903  3559  2344
Resident services, repair, and other services  52  27  25
Scientific research and technical services  2798  1747  1051
Transportation, warehousing and postal services  5248  3405  1843
Water conservancy, environment, and public institution management  2648  1769  879
Wholesale and retail trade  8154  5131  3023
Total  178,805  114,460  64,345