| variable | (1) | (2) | (3) | (4) |
| receivables turnover days | payable turnover days | |||
| FDI × USMP | −2.661*** | −2.205** | −1.145 | −0.892 |
|
| (−3.103) | (−2.567) | (−1.271) | (−0.986) |
| Constant | −119.865*** | −96.884*** | −127.683*** | −114.663*** |
|
| (−5.419) | (−4.304) | (−5.497) | (−4.837) |
| 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 | 0.749 | 0.755 | 0.625 | 0.642 |