variable | Dependent variable: net receivables/sales | |||||
(1) | (2) | (3) | (4) | (5) | (6) | |
Full sample | Excluding the financial crisis | |||||
USMP | 1.016*** | −0.129 |
| 1.001*** | −0.225 |
|
| (11.251) | (−0.718) |
| (10.849) | (−1.193) |
|
USMP × RZ |
| 0.010** | 0.010** |
| 0.012*** | 0.012*** |
|
| (2.196) | (2.259) |
| (2.686) | (2.628) |
Constant | −0.229 | −9.140 | −16.969 | 9.668 | 7.805 | −7.570 |
| (−0.035) | (−0.668) | (−1.027) | (1.395) | (0.528) | (−0.434) |
Enterprise FE | yes | yes | yes | yes | yes | yes |
Time FE | deny | deny | yes | deny | deny | yes |
Control variables at the national level | yes | yes | yes | yes | yes | yes |
Obs | 15,117 | 4856 | 4856 | 14,232 | 4249 | 4249 |
R-squared | 0.705 | 0.692 | 0.695 | 0.711 | 0.708 | 0.710 |