Browsing by Author "Chen, Ming-Hsiang"
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- A quantile regression analysis of tourism market growth effect on the hotel industry [Summary]Chen, Ming-Hsiang (Virginia Tech, 2016-01)This study investigates how inbound tourism market growth proxied by the growth rate of total foreign tourist arrivals (GTA) affects the growth rate of sales (GS) and financial performance of hotel firms in Taiwan. The ordinary least squares estimation results of panel regression test revealed that GTA significantly affects GS, but has no significant effect on financial performance (proxied by hotel equity return). However, quantile regression tests revealed new and interesting results. GTA has a significant effect on GS at the different quantiles of GS. In comparison, although hotel equity return was not significantly related to GTA at the median and high quantiles, the effect of GTA on hotel equity return was statistically significant at the low quantiles.
- Understanding the impact of changes in consumer confidence on hotel stock performance in Taiwan [Summary]Chen, Ming-Hsiang (Virginia Tech, 2015-09)This study contributes to the hospitality literature by providing a comprehensive investigation of the effects of changes in consumer confidence in Taiwan on hotel stock performance, including hotel sales growth, hotel stock returns and the perceived riskiness of stock cash flows from holding hotel stocks (proxied by the risk of hotel stock returns).