variable | Dependent variable: net receivables/sales | |||
(1) | (2) | (3) | (4) | |
Index of financial institutions | Financial Market Index | |||
FDI × USMP | 1.901* | 1.685 | −0.866 | −0.753 |
| (1.724) | (1.525) | (−1.327) | (−1.154) |
FDI × USMP × fd | −6.758*** | −6.026*** | 0.280 | 0.168 |
| (−2.944) | (−2.622) | (0.187) | (0.112) |
Constant | −36.625*** | −27.398*** | −21.874*** | −16.338** |
| (−4.669) | (−3.402) | (−2.803) | (−2.072) |
Enterprise FE | yes | yes | yes | yes |
Time FE | yes | yes | yes | yes |
Control variables at the national level | no | yes | no | yes |
Obs | 16,063 | 16,063 | 16,063 | 16,063 |
R-squared | 0.711 | 0.712 | 0.710 | 0.712 |