variable | Dependent variable: net receivables/sales | |||
(1) | (2) | (3) | (4) | |
Benchmark regression | Eliminate the financial crisis | |||
USMP | 1.351*** | 1.311*** | 1.385*** | 1.306*** |
| (11.144) | (9.958) | (11.310) | (9.739) |
Constant | −17.873* | −3.972 | −15.751* | 4.619 |
| (−1.936) | (−0.414) | (−1.653) | (0.457) |
Enterprise FE | yes | yes | yes | yes |
Time FE | deny | deny | deny | deny |
Control variables at the national level | deny | yes | deny | yes |
Obs | 8146 | 8146 | 7659 | 7659 |
R-squared | 0.697 | 0.699 | 0.703 | 0.706 |