Open AccessInfluences of Unemployment Rates and S&P 500 Movements On Eight Selected U.S. Casino Stock Performances
Author(s) -
Atiqur Rahman,
Muhammad Mustafa,
Stephen C. Caples
Publication year - 1970
Publication title -
journal of business strategies
Language(s) - English
Resource type - Journals
eISSN - 2162-6901
pISSN - 0887-2058
DOI - 10.54155/jbs.31.1.221-240
Subject(s) - stock (firearms) , unemployment , economics , unemployment rate , econometrics , demographic economics , geography , macroeconomics , archaeology
This paper studies the causal effects of changes in unemployment rates andU.S. S&P 500 returns on changes in stock returns of selected eight U.S. casinos individually.Monthly data from January, 1982 through July, 2012 are employed. Thetime series data in percentage changes are found stationary. As a result, multivariateVAR in first-difference is implemented since the objective is to investigate the effectsof changes in causal variables on changes in individual selected casino stockreturns. The estimates depict weakly positive and somewhat mixed causal influencesof changes in unemployment rates on changes in casino stock returns. In the caseof the changes in S&P 500, the results are uniformly positive and relatively strong.In other words, the latter unleash stronger influence than the former on changes incasino stock returns with mixed net short-run interactive feedback effects.