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The COVID-19 Pandemic Effect on Risk and Return of Malaysian Tourism Industry

Table 2: COVID-19 effects confirmed cases with tourism stock return risk of volatility

Variable OLS Qu5 Qu10 Qu20 Qu30 Qu40 Qu50 Qu60 Qu70 Qu80 Qu90 Qu95
C 0.552 0.030** 0.066*** 0.098*** 0.023*** 0.037*** 0.056*** 0.007*** 0.012*** 0.023*** 0.038*** 0.077***
Confirmed 0.086 0.012*** 0.042* 0.052* 0.046* 0.061 0.050 0.016 0.030 0.085* 0.032*** 0.052*
GRSI -0.027 -0.014 -0.051*** -0.096*** -0.016*** -0.017* -0.064 -0.067 -0.042*** -0.095*** -0.047 -0.016
Oil(1) 0.089 -0.074*** -0.013*** -0.033*** -.057*** -0.082*** -0.008*** -0.001*** -0.018*** -0.029*** -0.004*** -0.082***
ExR(1) 0.044 0.021 -0.028 -0.016*** -0.017*** -0.047*** -0.048*** -0.035** -0.021*** -0.041 0.025 0.018
INF(1) -0.070 -0.023 0.016 0.069*** 0.019 0.077 -0.041 -0.016* -0.038*** -0.093*** -0.021*** -0.049***
Adj./Pseudo R 2 0.600 0.000 0.000 0.000 0.000 0.000 0.600 0.000 0.000 0.600 0.000 0.000
Obs 30432
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