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

Table 10

Parameter estimation table of the Heckman sample selection model.

Number of obs = 7413; Censored obs = 3929; Uncensored obs = 3484; Wald chi^2(10) = 119.62; Prob > chi^2 = 0.0000
Hedging category	Variable	Estimated coefficient	Standard error	Z value	value
	Debt ratio (TLR)	−0.0098526	0.0019086	−5.16	≤ 0.001
	Operating gross margin (GPMS)	0.0030374	0.0014012	2.17	0.030
	Long-term debt ratio (LLR)	1.381609	0.3062144	4.51	≤ 0.001
	Fixed asset ratio (FAR)	−0.5702037	0.1452769	−3.92	≤ 0.001
	Cash flow ratio (CFR)	0.000092	0.000429	0.21	0.830
	Current ratio (CR)	−0.0014274	0.0006959	−2.05	0.040
	Quick ratio (QR)	0.0010574	0.0007212	1.47	0.143
	Operating income (OR)	−5.53e − 10	3.06e − 10	−1.81	0.071
	Earnings per share (EPS)	−0.01139	0.0106861	−1.07	0.286
	Director and supervisor shareholding ratio (DHB)	−0.0033535	0.0015209	2.20	0.027
	Executive shareholding ratio (CHB)	0.0483558	0.0083939	5.76	≤ 0.001
	_cons	2.180772	0.1070058	20.38	≤ 0.001