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

Table 2

The response effect of financial hedging and operational hedging.

Variables	Risk
	H12	H13
Intercept	2.784	2.312
	(0.097)	(0.089)
HC (−3)	−0.026	−0.031
	(0.041)	(0.054)
FE (−3)	−0.225	−0.182
	(0.071)	(0.051)
FPR (−3)	−70.453
	(p ≤ 0.001)
MR (−3)		−28.127
		(0.010)
HCFPR (−3)	−0.494
	(0.066)
FEFPR (−3)	−2.85
	(0.093)
HCMR (−3)		−0.412
		(0.056)
FEMR (−3)		−2.413
		(0.096)
FD (−3)	0.516	0.829
	(0.375)	(0.074)
Overseas (−3)	2.062	1.125
	(0.203)	(0.319)
OE (−3)	−0.102	−0.251
	(0.086)	(0.045)
OD (−3)	0.489	0.527
	(0.039)	(0.342)
Size (−3)	0.060	−0.052
	(0.312)	(0.046)
Year	Yes	Yes
Observation value	282	282
F	2.73	1.12

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