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

Table 3

Test of the relationship between financial hedging and operational hedging.

Variables	PRMARGIN	RISK
	H14	H15
Intercept	0.467	4.303
	(0.005)	(0.002)
HC	−0.001	0.655
	(0.061)	(0.098)
FE	0.043	−0.468
	(0.010)	(0.091)
HCFE	0.163	−0.928
	(0.080)	(0.069)
FD	0.102	−0.994
	(0.001)	(0.131)
Overseas	0.720	−2.998
	(0.141)	(0.003)
OE	−0.711	−0.939
	(0.060)	(0.908)
OD	0.053	0.8855
	(0.079)	(0.149)
Size	−0.029	−0.155
	(0.008)	(0.541)
Year	Yes	Yes
Observation value	282	282
F	2.76	1.88

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