Factors Affecting Stock Prices of Hotel Companies Listed in the Stock Exchange of Thailand Before, During and After the COVID-19 Pandemic
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Abstract
This Article aimed to study (1) factors affect to stock price of hotel companies list in the Stock Exchange of Thailand. Thai stock market before, during, and after the COVID-19 crisis. The research approach is quantitative, focusing on a sample group of 11 tourism sector securities. Data was collected through secondary sources over four years, divided into three periods for comparison: pre-COVID, during COVID, and post-COVID. The pre-COVID period data spans from March 2018 to March 2020, marking the beginning of the lockdowns. The during COVID period data is from March 2020 to October 2021. The post-COVID period data starts from the beginning of the lockdown easing measures in October 2021 to October 2023, totaling 62 data points. The study factors include the Consumer Price Index (CPI), the Stock Exchange of Thailand Index (SET Index), the US Dollar to Thai Baht exchange rate (THB/USD), the Dow Jones Industrial Index (DJI Index), the SET Total Return Index, and the interest rates in Thailand (R), analyzed using multiple regression with the Enter Method.
The research results were found as follows; Factors significantly affecting to stock price of hotel companies list in the Stock Exchange of Thailand at the statistical significance level of 0.05 before Covid-19 pandemic were R, SET, CPI, SET TRI, THB, DJI. Factors that affect to stock price of hotel companies list in the Stock Exchange of Thailand at the statistical significance level of 0.05 middle Covid-19 pandemic were R, THB, CPI. Factors that affect to stock price of hotel companies list in the Stock Exchange of Thailand at the statistical significance level of 0.05 after Covid-19 pandemic were R, THB, SET, CPI.
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