variable

Dependent variable: net receivables/sales

(1)

(2)

(3)

(4)

Full sample

Excluding the financial crisis

FDI × USMP

2.015***

2.108***

1.963***

2.044***

(3.443)

(3.594)

(3.310)

(3.438)

FDI × USMP × kaopen

−5.076***

−5.164***

−4.735***

−4.815***

(−4.613)

(−4.692)

(−4.230)

(−4.299)

Constant

−29.816***

−27.624**

−27.400**

−25.321**

(−2.669)

(−2.469)

(−2.347)

(−2.165)

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

0.675

0.675

0.684

0.685