variable

Dependent variable: net receivables / sales

(1)

(2)

(3)

(4)

Full sample

Excluding the financial crisis

FDI_AE × USMP

−1.021***

−0.911***

−1.028***

−0.916**

(−2.903)

(−2.592)

(−2.860)

(−2.552)

FDI_other × USMP

−0.893*

−0.584

−0.645

−0.309

(−1.664)

(−1.089)

(−1.173)

(−0.561)

Constant

−25.787***

−17.268**

−24.318***

−15.304*

(−3.349)

(−2.204)

(−3.051)

(−1.881)

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