Macro and non-macro explanatory factors of Chinese hotel stock returns

Ming-Hsiang Chen1

  • 1Department of Finance, National Chung Cheng University, Chia-Yi, Taiwan, ROC.

International Journal of Hospitality Management
|April 15, 2020
PubMed

Related Concept Videos

Equity Theory01:26

Equity Theory

Equity theory explains how our sense of fairness influences the dynamics of close relationships. Rooted in social psychology, the theory posits that individuals evaluate fairness by comparing the ratio of their contributions to the rewards they receive. Relationship satisfaction is highest when these ratios are perceived as balanced between partners, promoting mutual reciprocity and a sense of justice.Equity vs. Equality in RelationshipsEquity is distinct from equality. Fairness does not...
190
Factorial Design02:01

Factorial Design

Factorial Analysis is an experimental design that applies Analysis of Variance (ANOVA) statistical procedures to examine a change in a dependent variable due to more than one independent variable, also known as factors. Changes in worker productivity can be reasoned, for example, to be influenced by salary and other conditions, such as skill level. One way to test this hypothesis is by categorizing salary into three levels (low, moderate, and high) and skills sets into two levels (entry level...
13.6K
Fundamental Attribution Error01:14

Fundamental Attribution Error

According to some social psychologists, people tend to overemphasize internal factors as explanations—or attributions—for the behavior of other people. They tend to assume that the behavior of another person is a trait of that person, and to underestimate the power of the situation on the behavior of others. They tend to fail to recognize when the behavior of another is due to situational variables, and thus to the person’s state. This erroneous assumption is...
13.6K
Correlation and Causation01:27

Correlation and Causation

Statistical tests can calculate whether there is a relationship, or correlation, between independent and dependent variables. An indirect relationship of the variables signifies a correlation, while a direct relationship shows causation. If it is determined that no connection exists between the variables, then the correlation is a coincidence.
Correlation versus Causation
If the dependent variable increases or decreases when the independent variable increases, there is a positive or negative...
40.8K
Correlation01:09

Correlation

In statistics, two variables are said to be correlated if the values of one variable are associated with the other variable. Depending on the relationship between two variables, correlation can be of three types– positive correlation, negative correlation, and zero correlation.
Two variables, for example, a and b, are said to be positively correlated if both variables move in the same direction. In other words, a positive correlation exists between two variables, a and b, if:
14.3K
Regression Toward the Mean01:52

Regression Toward the Mean

Regression toward the mean (“RTM”) is a phenomenon in which extremely high or low values—for example, and individual’s blood pressure at a particular moment—appear closer to a group’s average upon remeasuring. Although this statistical peculiarity is the result of random error and chance, it has been problematic across various medical, scientific, financial and psychological applications. In particular, RTM, if not taken into account, can interfere when...
6.8K