Table 1.
Descriptive financial statistics of tourism firms in Taiwan
| Tourism firms (Taiwan) | Sample size (month/year) | Price per share (in NT$) | Shares outstanding (in million) | Market capitalization (in million NT$) |
|---|---|---|---|---|
| Ambassador Hotel | 12/1982–01/2004 | 15.40 | 358 | 5513 |
| First Hotel | 6/1991–01/2004 | 20.30 | 153 | 3105 |
| Hotel Holiday Garden | 6/1965–01/2004 | 10.50 | 64 | 672 |
| Leofoo Corporation | 12/1988–01/2004 | 13.65 | 265 | 3617 |
| Wan-Hwa Corporation | 1/1971–01/2004 | 13.20 | 228 | 3010 |
| China Airlines | 2/1993–01/2004 | 18.40 | 2849 | 52422 |
Note: The market capitalization is denominated in New Taiwan dollar (NT$) and all numbers are as of the end of January 2004. All the six firms are listed on the Taiwan Stock Exchange.