We used several instrumental variables to control for the endogeneity of market entry decisions.

我们使用了多个工具变量来衡量市场进入决策问题。

Most importantly, we take into consideration of the endogeneity of ownership structure when examining its effect on performance.

本文最重要的一点是，在研究股权结构对公司业绩的影响时，我们考虑了股权结构的内生性质。