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

Table 4: Impacts of virus recovered cases on tourism stock return volatility risk

Variable OLS Qu5 Qu10 Qu20 Qu30 Qu40 Qu50 Qu60 Qu70 Qu80 Qu90 Qu95
C 0.015 0.023 0.015 0.016 0.012* 0.017* 0.035*** 0.045*** 0.092*** 0.017*** 0.035*** 0.065***
Recovered 0.032 0.037 0.031*** 0.008*** 0.019*** 0.027*** 0.034*** 0.050*** 0.077*** 0.011*** 0.024*** 0.006***
GRSI -0.012 0.031 0.094 0.027 -0.054 0.056 0.020* 0.014 -0.029 -0.042 -0.074 0.025
Oil(1) 0.094 -0.001*** -0.014*** -0.033*** -0.053*** -0.073*** -0.076*** -0.001*** -0.017*** -0.027*** -0.004*** -0.006***
ExR(1) -0.040 0.044* 0.027 -0.046 -.037 -0.017 -0.017 -0.009 0.001 0.003 0.076 0.002
INF(1) -0.011* -0.031 0.020 0.094*** 0.040 0.088 -0.030 -0.073 -0.037*** -0.079*** -0.022*** -0.047***
Adj./Pseudo R 2 0.500 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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