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

Table 7: Impacts of virus deaths on tourism stock return

Variable OLS Qu5 Qu10 Qu20 Qu30 Qu40 Qu50 Qu60 Qu70 Qu80 Qu90 Qu95
C 0.044* 0.039 0.031 0.116*** 0.098*** 0.090*** 0.144 0.004 0.004 0.101*** 0.292*** 0.147*
Death -0.041 -0.058 -0.099 -0.020*** -0.012*** -0.010*** -0.004 -0.020 -0.022 -0.064 -0.012 -0.093
GRSI 0.039 0.016** 0.031 0.050 0.066** 0.060** 0.258* 0.011*** 0.015*** 0.016*** 0.094 0.020*
Oil(1) -0.008*** -0.021*** -0.016*** -0.011*** -0.028 -0.020 -12.315 -0.055** -0.059** -0.018*** -0.032*** -0.056***
ExR(1) 0.062 -0.027*** -0.015*** -0.011** -0.016*** -0.010*** -0.128 0.031 0.033 -0.011 0.033 -0.019*
INF(1) -0.023 -0.050 -0.049 -0.018 -0.012 -0.012 -0.064*** 0.090 0.097 -0.045* -0.017*** -0.053
Adj./Pseudo R 2 0.530 0.012 0.004 0.004 0.002 0.002 0.014 0.004 0.004 0.009 0.015 0.025
Obs 30432
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