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- Panel A: Interest rate hedging 0 .02 .04 .06 .08 Interest rate hedging 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Non-treated Treated Panel B: Foreign exchange hedging 0 .002 .004 .006 .008 Foreign exchange hedging 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Non-treated Treated Appendix – For Online Publication Appendix A: Auxiliary tables and figures Table A1 – Variable definitions This table provides definitions of the variables used in the empirical analysis.
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