Cash flow is the exogenous variable of investment expenditure, as well as the endogenous variable of financing structure.
现金流既是投资支出的外生变量,又是融资结构的内生变量。
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System is the endogenous variable in the economic growth.
制度是经济增长的内生变量。
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Payment for labor forces is an important endogenous variable.
劳动力的报酬是重要的内生变量。
The institutional change is the coefficient result of exogenous variable and endogenous variable.
制度变迁的产生是外生变量和内生变量共同作用的结果。
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