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

Table 9: Impacts of COVID-19 vaccination progress on tourism stock return

Variable OLS Qu5 Qu10 Qu20 Qu30 Qu40 Qu50 Qu60 Qu70 Qu80 Qu90 Qu95
C 0.513** 1.213** 1.467*** 0.636* 0.392* 0.392* 0.196 0.030 0.031 0.497 0.344 0.499
VP 0.041** 0.010** 0.042 0.012*** 0.097*** 0.091*** 0.044* 0.070*** 0.077*** 0.058* 0.031 0.069
GRSI 0.012 0.015* 0.065 0.094* 0.010*** 0.011*** 0.258* 0.060* 0.063* 0.045* 0.085 0.030
Oil(1) -0.204* -0.556** -0.650*** -0.272* -0.177* -0.110* -12.315 -0.013 -0.015 -0.172 -0.017 -0.129
ExR(1) -0.061* -0.039*** -0.038 -0.028 -0.017 -0.017 -0.128 -0.012 -0.012 -0.011* -0.019** -0.097
INF(1) -0.058*** -0.032 -0.013*** -0.077*** -0.044*** -0.044*** -0.064*** -0.030 -0.039 -0.064** -0.019*** -0.014***
Adj./Pseudo R 2 0.400 0.023 0.010 0.018 0.014 0.014 0.014 0.017 0.017 0.031 0.041 0.008
Obs 30432
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