On the contrary, employees of a domestic firm working for the long term have favorable
benefits, such as job security and a working environment that gives less pressure. The estimated
result supports this augment. The coefficient of interaction term (FDI_sec*HC*time) is positive
and statistically significant at the 1 percent level, indicating that domestic firms with more
human capital will benefit from the long-term rate of productivity growth in the same four-digit
industries.