A review of research into drivers of firm value through event studies in tourism and hospitality: Launching the Annals of Tourism Research curated collection on drivers of firm value through event studies in tourism and hospitality

Nicolau, Juan Luis; Sharma, Abhinav

doi:10.1016/j.annals.2022.103430

Cited by 15 publications

(8 citation statements)

References 156 publications

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“…Prior studies have also called for event study methodology to be applied more in transportation research ( Gong, 2009 ). In addition, the event study literature in firm value is the fast-growing ( Nicolau and Sharma, 2022 ). For the entire sample, our main findings indicate that WHO’s declaration of a global pandemic and President Trump’s announcement of a travel ban for 26 European countries on March 11, 2020, negatively affected stock returns, which is consistent with previous research ( Kamal et al, 2021 , Maneenop and Kotcharin, 2020 ; Marobhe, 2021).…”

Section: Discussionmentioning

confidence: 99%

“…In addition, we were motivated to fill the research gap Gong (2009) identified in calling for more transportation research that applies the event study approach. Additionally, the event study approach is trendy ( Nicolau and Sharma, 2022 ). Moreover, the purpose of this study was to answer Zhang and Hayashi’s (2022) call for research to increase our understanding of the impact of COVID-19 on the passenger transportation sector.…”

Section: Introductionmentioning

confidence: 99%

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Comparative evidence on the impact of the COVID-19 outbreak and vaccine discovery on the global transportation industry

Maneenop

Kotcharin

2023

Transportation Research Interdisciplinary Perspectives

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Comparative evidence on the impact of the COVID-19 outbreak and vaccine discovery on the global transportation industry

Maneenop

Kotcharin

2023

Transportation Research Interdisciplinary Perspectives

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“…We adopted ESM to investigate the SMR in Japan. This method is useful for analyzing the impact of an event on SRs (Campbell et al 1997;Brown and Warner 1985;Graf 2009;Nicolau and Sharma 2022;Fama et al 1969) . Figure 1 shows the timeline of this study.…”

Section: Methodsmentioning

confidence: 99%

Impact of COVID-19 Travel Subsidies on Stock Market Returns: Evidence from Japanese Tourism Companies

Sakawa,

Watanabel

2024

JRFM

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This study examines stock market response (SMR) to the Japanese tourism industry (TI) after the government’s announcement of travel subsidies (TRSs) during the COVID-19 pandemic in 2020, using a sample comprising 80 listed Japanese firms in the TI and an event study method (ESM) to determine the impact of government policy responses (GPRs) to the pandemic. This study found that investors in the TI reacted positively to the announcement of subsidies; this positive effect persisted for 50 trading days after the announcement but was weaker for transportation firms. The results suggest that TRSs are important for the TI, with a stronger link to travel-related firms, such as airlines and travel agencies, hotels, and amusement services. However, investors in the TI reacted negatively to policies that directly addressed the pandemic, such as social distance policies (SDPs). These results are robustly confirmed when we measure abnormal returns by using a three-factor model. The results offer useful insights for policymakers and practitioners aiming to mitigate economic loss from disasters such as the COVID-19 pandemic.

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“…The important challenge for the hotel sector is how to choose an acceptable hotel location, as each decision has several implications for the hotel's future operations (Popovic et al, 2019). Besides that, the hotel's excellent performance in terms of income generation, both short and long term, will be aided by its strategic location (Assaf & Tsionas, 2018;Nicolau & Sharma, 2022). One of the most important tasks is to choose an acceptable location for the construction of a new tourist hotel because the location of the hotel has a significant impact on the success of the investment (Popovic et al, 2019).…”

Section: Locationmentioning

confidence: 99%

Choosing the Perfect Stay: Factors Influencing Tourist Hotel Decisions-Making

Mohamad,

Idris,

Manshoor

2024

IJSSR

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Tourists employ a variety of factors in their decision-making process when selecting hotels. Every hotel visitor must undergoes an evaluation process before deciding on which hotel to stay in. The objective of this study is to ascertain the factors that impact the choice of hotels from the viewpoint of tourist decision-making. This process is essential for tourists as they must carefully consider their preferences while selecting a hotel. The decision-making process that visitors undergo to express their preferences is multifaceted. Therefore, tourists invariably consider many elements and criteria before making a selection. This study employed a quantitative technique, utilizing survey questionnaires delivered to a sample of 385 respondents representing the tourist population in Kedah, Malaysia. The data analyses were performed utilising SPSS and employing multiple regression analysis. The findings indicate that visitors’ decision-making in selecting hotels is influenced by theme and design, location, and room characteristics. Specifically, the location of the hotel has been identified as the most significant factor considered by tourists when choosing hotels in Kedah, Malaysia. The results of this study are advantageous for stakeholders, particularly those in the hotel business, in enhancing their goods and services. This study also provides recommendations for further research based on its findings.

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A review of research into drivers of firm value through event studies in tourism and hospitality: Launching the Annals of Tourism Research curated collection on drivers of firm value through event studies in tourism and hospitality

Cited by 15 publications

References 156 publications

Comparative evidence on the impact of the COVID-19 outbreak and vaccine discovery on the global transportation industry

Comparative evidence on the impact of the COVID-19 outbreak and vaccine discovery on the global transportation industry

Impact of COVID-19 Travel Subsidies on Stock Market Returns: Evidence from Japanese Tourism Companies

Choosing the Perfect Stay: Factors Influencing Tourist Hotel Decisions-Making

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