Foreign Sales > 0

Foreign Sales = 0

Hedgers

Non-hedgers

Hedgers

Non-hedgers

Mean

2.2049

2.7494

1.5168

3.0863

Std. Dev.

1.3573

2.5088

0.5709

4.0083

N

24

17

18

28

Difference in Mean (t-stat) Hedgers-Non-Hedgers

−0.5445

−1.5694