variable | Dependent variable: net receivables/sales | |||
(1) | (2) | (3) | (4) | |
Benchmark regression | Eliminate the financial crisis | |||
FDI × USMP | −0.983*** | −0.815*** | −0.916*** | −0.739** |
| (−3.294) | (−2.727) | (−3.000) | (−2.418) |
Constant | −25.741*** | −17.174** | −24.171*** | −15.120* |
| (−3.344) | (−2.193) | (−3.034) | (−1.859) |
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 | 15,098 | 15,098 |
R-squared | 0.709 | 0.711 | 0.715 | 0.716 |