Application of Big Data Complexity Analysis Hedging Operation of Derivative Financial Products

Table 9

Logistic model estimation table.

With or without hedging	Variable	Estimated coefficient	Standard error	Z value	value
	Debt ratio (TLR)	−0.0099932	0.0012326	−8.11	≤ 0.001
	Interest coverage (TIE)	5.10e − 07	6.69e − 07	0.76	0.447
	Operating gross margin (GPMS)	−0.0062112	0.0010302	−6.03	≤ 0.001
	Research and development cost ratio (RD)	−0.0004225	0.0007332	−0.58	0.564
	Long-term debt ratio (LLR)	1.626623	0.1936501	8.40	≤ 0.001
	Fixed asset ratio (FAR)	−0.7484093	0.091008	−8.22	≤ 0.001
	Cash flow ratio (CFR)	−0.0009186	0.0003446	−2.67	0.008
	Current ratio (CR)	−0.0038123	0.0003031	−12.58	≤ 0.001
	Quick ratio (QR)	0.0038373	0.0003218	11.92	≤ 0.001
	Operating income (OR)	4.18e − 09	5.58e − 10	7.50	≤ 0.001
	Earnings per share (EPS)	0.0881332	0.0093118	9.46	≤ 0.001
	Director and supervisor shareholding ratio (DHB)	−0.0077495	0.0010447	−7.42	≤ 0.001
	Executive shareholding ratio (CHB)	0.0156009	0.0070627	2.21	0.027
	_cons	0.7147989	0.0637489	11.21	≤ 0.001
Mills
	Lambda	−0.1925676	0.2226741	−0.86	0.038
	Rho	−0.21383
	Sigma	0.9005568
	Lambda	−0.1925676	0.2226741