Where Beta is going – case of Viet Nam hotel, airlines and tourism company groups after the low inflation period
Tourism, airline, hotel are industries those can be affected much by environment and social risks. Vietnam hotel, entertainment, airline & tourism industries are growing fast and contributing much to the economic development and have been affected by inflation. This paper measures the volatility of market risk in Viet Nam Hotel, entertainment, airline & tourism industries after this low inflation environment (2015-2017). The main reason is the necessary role of these financial companies and their system in Vietnam in the economic development and growth in recent years always go with risk potential and risk control policies. This research paper aims to figure out how much increase or decrease in the market risk of Vietnam Hotel, entertainment, airline & tourism firms during the post-low inflation environment 2015-2017. First, by using quantitative combined with comparative data analysis method, we find out the risk level measured by equity beta mean values in the Hotel, entertainment, airline & tourism industries are acceptable, as they are lower than (<) 1. Then, one of its major findings is the comparison between risk level of hotel industry during the post-low inflation period 2015-2017 compared to those in the airline & tourism industries. In fact, the research findings show us market risk level of entertainment industry, one kind of financial risks, is the highest among 3 groups. Whereas risk fluctuation in airline & tourism industry is the highest. Finally, this paper provides some ideas that could provide companies and government more evidence in establishing their policies in governance. This is the complex task but the research results shows us warning that the market risk need to be controlled better during the post-low inflation period 2015-2017. And our conclusion part will recommend some policies and plans to deal with it.
risk management, asset beta, financial crisis, airline & tourism industry, hotel industry, entertainment industry, macro policy
M21 , N10
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