| VARIABLES | (1) 投资高收入国家 | (2) 投资中低收入国家 |
| ofdi | 1.417*** | 0.977*** |
| (0.084) | (0.097) | |
| wage | 0.172*** | 0.173*** |
| (0.002) | (0.002) | |
| age | 0.183*** | 0.183*** |
| (0.001) | (0.001) | |
| capital | −0.050*** | −0.050*** |
| (0.001) | (0.001) | |
| sales | −0.031*** | −0.031*** |
| (0.001) | (0.001) | |
| profit | −0.061*** | −0.061*** |
| (0.001) | (0.001) | |
| fies | 0.588*** | 0.588*** |
| (0.015) | (0.015) | |
| hmtie | 0.735*** | 0.734*** |
| (0.020) | (0.020) | |
| coes | −0.355*** | −0.356*** |
| (0.005) | (0.005) | |
| private | −0.435*** | −0.435*** |
| (0.003) | (0.003) | |
| east | 0.021*** | 0.021*** |
| (0.003) | (0.003) | |
| middle | 0.180*** | 0.181*** |
| (0.003) | (0.003) | |
| Constant | 2.462*** | 2.460*** |
| (0.008) | (0.008) | |
| Observations | 1,207,380 | 1,207,380 |
| R-squared | 0.118 | 0.117 |
| F | 7094 | 7081 |