Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/104842
| Title: | Institutional ownership and return volatility in the casino industry | Authors: | Lin, Y Fu, X Gu, X Song, H |
Issue Date: | Mar-2018 | Source: | International journal of tourism research, Mar.-Apr. 2018, v. 20, no. 2, p. 204-214 | Abstract: | Using a sample that covers all casino companies in Macao from March 2010 to June 2015, this paper investigates the impact of institutional investment on stock return volatility in the casino industry. The results suggest that higher institutional ownership is conducive to lower return volatility on Macao casino stocks. Such volatility also hinges on policy shifts, such as China's anti-corruption campaign, in tourist source communities. In addition, the estimation reveals that both smoking bans and business size significantly decrease return volatility, whereas cross-listing increases return volatility significantly. | Keywords: | Casino industry Institutional ownership Stock return volatility |
Publisher: | John Wiley & Sons | Journal: | International journal of tourism research | ISSN: | 1099-2340 | EISSN: | 1522-1970 | DOI: | 10.1002/jtr.2173 | Rights: | Copyright © 2017 John Wiley & Sons, Ltd. This is the peer reviewed version of the following article: Lin, Y, Fu, X, Gu, X, Song, H. Institutional ownership and return volatility in the casino industry. Int J Tourism Res. 2018; 20(2): 204–214, which has been published in final form at https://doi.org/10.1002/jtr.2173. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. This article may not be enhanced, enriched or otherwise transformed into a derivative work, without express permission from Wiley or by statutory rights under applicable legislation. Copyright notices must not be removed, obscured or modified. The article must be linked to Wiley’s version of record on Wiley Online Library and any embedding, framing or otherwise making available the article or pages thereof by third parties from platforms, services and websites other than Wiley Online Library must be prohibited. |
| Appears in Collections: | Journal/Magazine Article |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| Song_Institutional_Ownership_Return.pdf | Pre-Published version | 568.21 kB | Adobe PDF | View/Open |
Access
View full-text via PolyU eLinks 
Page views
86
Last Week
0
0
Last month
Citations as of Nov 30, 2025
Downloads
76
Citations as of Nov 30, 2025
SCOPUSTM
Citations
15
Citations as of Dec 19, 2025
WEB OF SCIENCETM
Citations
15
Citations as of Dec 18, 2025
Google ScholarTM
Check
Altmetric
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.