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

Table 4

Sensitivity test results of the impact of financial hedging and operational hedging on corporate profitability and risk.

Variables	TTM	EPS
	H16	H17
HC	−0.023	−0.78
	(0.073)	(0.039)
FE	0.580	−0.380
	(0.005)	(0.020)
HCFE	0.786	−1.350
	(0.004)	(0.060)
FD	0.308	−0.752
	(0.014)	(0.254)
Overseas	0.640	−3.005
	(0.231)	(0.002)
OE	−0.623	−0.837
	(0.048)	(0.942)
OD	0.037	0.934
	(0.086)	(0.128)
Size	−0.036	−0.234
	(0.003)	(0.642)
Year	Yes	Yes
Sample size	282	282
F	3.26	1.37

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