Research Article
Application of Big Data Complexity Analysis Hedging Operation of Derivative Financial Products
Table 9
Logistic model estimation table.
| With or without hedging | Variable | Estimated coefficient | Standard error | Z value | value |
| | Debt ratio (TLR) | −0.0099932 | 0.0012326 | −8.11 | ≤ 0.001 | Interest coverage (TIE) | 5.10e − 07 | 6.69e − 07 | 0.76 | 0.447 | Operating gross margin (GPMS) | −0.0062112 | 0.0010302 | −6.03 | ≤ 0.001 | Research and development cost ratio (RD) | −0.0004225 | 0.0007332 | −0.58 | 0.564 | Long-term debt ratio (LLR) | 1.626623 | 0.1936501 | 8.40 | ≤ 0.001 | Fixed asset ratio (FAR) | −0.7484093 | 0.091008 | −8.22 | ≤ 0.001 | Cash flow ratio (CFR) | −0.0009186 | 0.0003446 | −2.67 | 0.008 | Current ratio (CR) | −0.0038123 | 0.0003031 | −12.58 | ≤ 0.001 | Quick ratio (QR) | 0.0038373 | 0.0003218 | 11.92 | ≤ 0.001 | Operating income (OR) | 4.18e − 09 | 5.58e − 10 | 7.50 | ≤ 0.001 | Earnings per share (EPS) | 0.0881332 | 0.0093118 | 9.46 | ≤ 0.001 | Director and supervisor shareholding ratio (DHB) | −0.0077495 | 0.0010447 | −7.42 | ≤ 0.001 | Executive shareholding ratio (CHB) | 0.0156009 | 0.0070627 | 2.21 | 0.027 | _cons | 0.7147989 | 0.0637489 | 11.21 | ≤ 0.001 |
| Mills | | | | | | Lambda | −0.1925676 | 0.2226741 | −0.86 | 0.038 | Rho | −0.21383 | | | | Sigma | 0.9005568 | | | | Lambda | −0.1925676 | 0.2226741 | | |
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