【Appendix】Value-Added tax credit refund, firm innovation, and labor skill premiums

The appendix contains tables that could not be presented in the main text due to length constraints, including Table 1 Descriptive Statistics of Variables, Figure 1 Parallel Trend Test, Figure 2 Placebo Test, Table 2 PSM-DID, Continuous DID and Staggered DID, Table 3 Alternative Measures of the Explained Variable, Table 4 Elimination of Alternative Explanations, and Table 5 Other Robustness Tests.