Macedonian tourism insight through the analysis of stocks returns of quoted tourism companies at MSE
Macedonian tourism insight through the analysis of stocks returns of quoted tourism companies at MSE
Autori:
Izdanje: SITCON 2016 - Singidunum International Tourism Conference
DOI: 10.15308/Sitcon-2016-215-222
Oblast: Tourism
Stranice: 215-222
Apstrakt:
In this paper we present the results of the statistical analysis, focused on determining
the character of relationship between stocks of two quoted tourism
companies at Macedonian Stock Exchange (MSE) using the data for the last
52-weeks series of daily stocks’ closing prices as well for the Macedonian Stock
Exchange Index (MBI-10). The linear regression and correlation analysis of
two securities provide evidence for statistical significance of their stocks’ daily
returns at MSE. On the contrary, regression analysis did not reveal a statistically
significant relationship between MTUR, MPOL and MBI-10. Through the
analysis of daily stocks’ returns at MSE we could not determine a statistically
significant relationship between tourism growth in the Republic of Macedonia
and tourism companies’ securities prices in the last two years. Some implications
for tourism planning and portfolio management can be drawn.
the character of relationship between stocks of two quoted tourism
companies at Macedonian Stock Exchange (MSE) using the data for the last
52-weeks series of daily stocks’ closing prices as well for the Macedonian Stock
Exchange Index (MBI-10). The linear regression and correlation analysis of
two securities provide evidence for statistical significance of their stocks’ daily
returns at MSE. On the contrary, regression analysis did not reveal a statistically
significant relationship between MTUR, MPOL and MBI-10. Through the
analysis of daily stocks’ returns at MSE we could not determine a statistically
significant relationship between tourism growth in the Republic of Macedonia
and tourism companies’ securities prices in the last two years. Some implications
for tourism planning and portfolio management can be drawn.
Ključne reči: tourism, stock, return, correlation, regression
Priložene datoteke:
- 215-222 ( veličina: 410,23 KB, broj pregleda: 762 )
Kategorije objave:
Radovi na konferenciji SITCON 2016, Beograd, Serbija
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BibTeX format
@article{article,
author = {Z. Ivanovski, V. Angelkoska and Z. Narasanov},
title = {Macedonian tourism insight through the analysis of stocks returns of quoted tourism companies at MSE},
journal = {SITCON 2016 - Singidunum International Tourism Conference},
year = 2016,
pages = {215-222},
doi = {10.15308/Sitcon-2016-215-222}
}
RT Conference Proceedings A1 Zoran Ivanovski A1 Valentina Angelkoska A1 Zoran Narasanov T1 Macedonian tourism insight through the analysis of stocks returns of quoted tourism companies at MSE AD Univerzitet Singidunum, Beograd, Beograd, Srbija YR 2016 NO doi: 10.15308/Sitcon-2016-215-222
Z. Ivanovski, V. Angelkoska and Z. Narasanov, Macedonian tourism insight through the analysis of stocks returns of quoted tourism companies at MSE, Univerzitet Singidunum, Beograd, 2016, doi:10.15308/Sitcon-2016-215-222