Financial Shared Services Empower the Real Economy: The Evidence from China

Table 3

Timing and industry of financial shared service implementation in sample companies.

	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	Total
Manufacturing	8	12	13	17	18	20	26	29	44	56	243
Wholesale and retail trade	1	1	1	3	5	5	5	6	9	14	50
Information transmission, software, and information technology services	0	1	1	1	2	3	4	6	8	12	38
Construction	0	0	0	0	1	2	2	3	5	7	20
Transportation, storage, and postal services	0	0	0	0	1	1	2	2	3	4	13
Real estate	0	0	0	1	1	1	2	2	2	4	13
Mining	0	0	0	0	0	0	0	0	3	4	7
Electricity, heat, gas, and water production and supply industry	0	0	0	0	0	0	0	1	3	2	6
Culture, sports, and entertainment	0	0	0	0	0	0	0	1	2	2	5
Leasing and business services	0	0	0	0	0	0	1	1	1	1	4
General industry	0	0	0	0	0	0	0	0	1	1	2
Water, environment, and public facilities management industry	0	0	0	0	0	0	0	0	0	1	1
Health and social work	0	0	0	0	0	0	0	0	0	1	1
Agriculture, forestry, animal husbandry, and fishery	0	0	0	0	0	0	0	0	0	1	1
Total	9	14	15	22	28	32	42	51	81	110	404