Table 2.
Descriptive financial statistics of tourism firms in China
| Tourism firms | Sample size (month/year) | Price per share (in RMB) | Shares outstanding (in million) | Market capitalization (in million RMB) |
|---|---|---|---|---|
| Shanghai Stock Exchange | ||||
| Cyts Tours | 12/1997–09/2003 | 8.19 | 267 | 2187 |
| Eastern Airlines | 11/1997–09/2003 | 4.08 | 3300 | 13464 |
| Huangshan Tourism | 5/1967–09/2003 | 7.86 | 199 | 1563 |
| Jinjiang Hotel | 10/1996–09/2003 | 7.48 | 447 | 3345 |
| Shenzhen Stock Exchange | ||||
| Century Plaza Hotel | 1/1994–09/2003 | 5.90 | 288 | 1698 |
| Dong Feng Hotel | 11/1993–09/2003 | 4.83 | 270 | 1303 |
| Huatian Hotel | 8/1996–09/2003 | 9.49 | 173 | 1640 |
| Jingxi Tourism | 1/1998–09/2003 | 9.69 | 116 | 1126 |
| Xian Tourism | 9/1996–09/2003 | 6.47 | 168 | 1084 |
Note: The market capitalization is denominated in the local currency, i.e. Renminbi (RMB), and all numbers are as of the end of September 2003. Cyts Tours, Huangshan Tourism, Jinjiang Hotel, and Eastern Airlines are listed on the Shanghai Stock Exchange, while Century Plaza Hotel, Dong Feng Hotel, Huatian Hotel, Jingxi Tourism, and Xian Tourism are listed on the Shenzhen Stock Exchange.