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

Table 8: Impacts of virus recovered cases on tourism stock return

Variable OLS Qu5 Qu10 Qu20 Qu30 Qu40 Qu50 Qu60 Qu70 Qu80 Qu90 Qu95
C 0.020 0.202*** 0.095*** 0.117*** 0.106*** 0.106*** 0.152 0.015 0.015 0.122*** 0.268*** 0.144*
Recover -0.016*** -0.044*** -0.031*** -0.021*** -0.013*** -0.011*** -0.182* -0.021** -0.023** -0.008*** -0.006** -0.022
GRSI 0.015*** 0.022*** 0.020*** 0.021*** 0.017*** 0.011*** 0.258 0.011*** 0.013*** 0.002*** 0.016** 0.018*
Oil(1) -0.011*** -0.064 -0.069** -0.015*** -0.024 -0.021 -12.315 -0.061*** -0.067*** -0.021*** -0.030*** -0.056***
ExR(1) -0.040 -0.033*** -0.016*** -0.010** -0.015*** -0.015*** -0.128 -0.061 0.061 0.004 -0.067 -0.019*
INF(1) -0.021 -0.024*** -0.001*** 0.028 0.025 -0.025 -0.064*** 0.051 -0.051 0.004 -0.002*** -0.051
Adj./Pseudo R 2 0.530 0.041 0.020 0.012 0.005 0.005 0.014 0.005 0.005 0.010 0.015 0.025
Obs 30432
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