Why do hospitality stocks exhibit price reversal trends in the 1990s?.

• Other Authors: Lu, Yiyang.
• Format: Others
• Language: English; Chinese
• Published: 2004
• Subjects: Stocks > Prices; Hospitality industry
• Online Access: http://library.cuhk.edu.hk/record=b5891867; http://repository.lib.cuhk.edu.hk/en/item/cuhk-324936

Lu Yiyang. === Thesis (M.Phil.)--Chinese University of Hong Kong, 2004. === Includes bibliographical references (leaves 79-82). === Abstracts in English and Chinese. === Chapter Chapter 1: --- Introduction --- p.1 === Chapter Chapter 2: --- Literature Review --- p.6 === Chapter 2.1 --- Econometric analysis of stock price with macro variables --- p.6 === Chapter 2.2 --- Momentum and Price Reversal --- p.10 === Chapter 2.3 --- Relationship between earnings and stock return --- p.15 === Chapter 2.4 --- Other Financial Investigations in Hospitality Industry --- p.18 === Chapter 2.5 --- Research Motivations --- p.21 === Chapter 2.7 --- Thesis Outline --- p.24 === Chapter Chapter 3: --- Macroeconomic Analysis --- p.26 === Chapter 3.1 --- Selection of macroeconomic variables --- p.26 === Chapter 3.2 --- Research Methodology --- p.30 === Chapter 3.2.1 --- VAR Model --- p.30 === Chapter 3.2.2 --- Methodological Consideration --- p.31 === Chapter 3.2.2.1 --- Granger Causality Test --- p.31 === Chapter 3.2.2.2 --- Variance Decomposition --- p.32 === Chapter 3.2.2.3 --- Ordering of variance decomposition --- p.34 === Chapter 3.2.3 --- Model Specification --- p.35 === Chapter 3.3 --- Empirical Results --- p.36 === Chapter 3.3.1 --- The Contemporaneous Correlation Between Hospitality Stock Returns and Selected Macroeconomic Variables --- p.36 === Chapter 3.3.2 --- The Correlation Between Hospitality Stock Returns and Lagged Macroeconomic Variables --- p.38 === Chapter Chapter 4: --- Momentum and Price Reversal --- p.46 === Chapter 4.1 --- Samples and Data Selection --- p.46 === Chapter 4.2 --- Methodology --- p.52 === Chapter 4.3 --- Empirical Results by Stock Return Ranking --- p.53 === Chapter 4.4 --- Stock Returns by ROA Ranking --- p.63 === Chapter 4.5 --- Regression Results --- p.73 === Chapter Chapter 5: --- Conclusions --- p.76