| VARIABLES | (1) 投资高收入国家 | (2) 投资中低收入国家 |
| ofdi | 0.069*** | 0.075*** |
| (0.015) | (0.020) | |
| wage | 0.077*** | 0.077*** |
| (0.001) | (0.001) | |
| age | −0.031*** | −0.031*** |
| (0.001) | (0.001) | |
| capital | −0.008*** | −0.008*** |
| (0.000) | (0.000) | |
| sales | 0.021*** | 0.021*** |
| (0.000) | (0.000) | |
| profit | −0.010*** | −0.010*** |
| (0.000) | (0.000) | |
| fies | 0.030*** | 0.030*** |
| (0.004) | (0.004) | |
| hmtie | 0.023*** | 0.023*** |
| (0.005) | (0.005) | |
| coes | −0.156*** | −0.156*** |
| (0.002) | (0.002) | |
| private | −0.074*** | −0.074*** |
| (0.001) | (0.001) | |
| east | −0.031*** | −0.031*** |
| (0.001) | (0.001) | |
| middle | 0.007*** | 0.007*** |
| (0.001) | (0.001) | |
| Constant | −0.702*** | −0.702*** |
| (0.004) | (0.004) | |
| Observations | 1,205,488 | 1,205,488 |
| R-squared | 0.062 | 0.062 |
| F | 5752 | 5751 |