Avoidance Path of Foreign Exchange Risk Management for Overseas Construction Enterprises in China

Table 1

The impact of financial hedging and operational hedging on the profitability of enterprises.

Variables	PRMARGIN
	H10	H11
Intercept	0.357	0.356
	(0.004)	(0.004)
HC (−1)	−0.063	−0.042
	(0.006)	(0.028)
FE (−1)	0.046	0.037
	(0.010)	(0.050)
FPR (−1)	0.905
	(0.090)
MR (−1)		0.269
		(0.056)
HCFPR (−1)	0.061
	(0.093)
FEFPR (−1)	0.035
	(0.048)
HCMR (−1)		0.011
		(0.096)
FEMR (−1)		0.014
		(0.086)
FD (−1)	0.013	0.011
	(0.342)	(0.270)
Overseas (−1)	0.25	0.36
	(0.071)	(0.347)
OE (−1)	0.012	0.011
	(0.375)	(0.021)
OD (−1)	−0.033	−0.032
	(0.485)	(0.508)
Size (−1)	−0.012	−0.011
	(0.032)	(0.065)
Year	Yes	Yes
Observation value	282	282
F	1.59	1.28

Note. P values are provided in parentheses; significant at 10% level; significant at 5% level; significant at 1% level.