COVID-19-related government interventions and travel and leisure stock

Wang, Ying; Zhang, Hongwei; Gao, Wang; Yang, Cai

doi:10.1016/j.jhtm.2021.09.010

Cited by 39 publications

(42 citation statements)

References 45 publications

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“…The travel and leisure sector, which is assumed to become a susceptible sector, is analyzed with Covid-19 cases and the index returns relationship, which helps to understand the effect of Covid-19. Academic studies (Isaac & Keijzer, 2021;Morse et al, 2021;Wang et al, 2021a) provide the view that changes in government measures, leisure intentions, social life, and activity preferences owing to Covid-19 can impact the travel and leisure industry. Results show that the travel and leisure sectors have significant economic linkages and generate adverse reactions to Covid-19 cases in the long run.…”

Section: Conclusion and Discussionmentioning

confidence: 99%

The Impact of Economic Variables on the Travel and Leisure Industry of Japan, the USA, Germany, and the UK

Polat¹,

Sevil²

2022

berj

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Section: Conclusion and Discussionmentioning

confidence: 99%

The Impact of Economic Variables on the Travel and Leisure Industry of Japan, the USA, Germany, and the UK

Polat¹,

Sevil²

2022

berj

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“…Second, we look at the governments' responses to the corona crisis and examine their possible impacts on bank returns by employing fixed effect panel regression with interaction effects. Prior research focuses on the impact of COVID-19 policy regulations on other sectors such as energy commodities (Czech & Wielechowski, 2021), travel, tourism, leisure stock market (Wang, Zhang, Gao, & Yang, 2021; Yang, Mao, & Wen, 2021), and local food prices (Dietrich, Giuffrida, Martorano, & Schmerzeck, 2022) rather than banks.…”

Section: Introductionmentioning

confidence: 99%

Pandemic waves, government response, and bank stock returns: evidence from 36 countries

Bales

Burghof

2022

FREP

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PurposeThe paper examines the impact of COVID-19 on bank stock returns over various time scales and frequencies for 36 countries. Moreover, the authors look at the governments' responses to the corona crisis and examine its impact on bank stock returns.Design/methodology/approachThe paper applies continuous wavelet transformation to obtain robust estimates of the co-movement (coherency) between confirmed cases and bank stock returns over time and at different time scales. Furthermore, the authors apply fixed effects panel regression to examine the response of bank stocks to domestic COVID-19 policies.FindingsThe results indicate that the number of confirmed COVID-19 cases negatively impacts bank stock returns during different waves of the pandemic in the medium-run. However, there is only little dependence in the very short-run. Moreover, bank stock returns positively react to domestic COVID-19 polices. This demonstrates that governmental interventions not only reduce the spread of COVID-19 but are also able to thereby calm financial markets.Originality/valueThe application of wavelet methods to the field of economics and finance is relatively recent and allows the distinction between short-term and long-term effects. Standard econometric methods, in contrast, only operate within the time domain. This paper combines wavelet methods with conventional econometrics to answer the research question.

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“…The methodology applied was quantile regression (QR) analysis through a fitted linear model that allows price seasonality to be modelled and the non-linear effects of demand variation on the spot price to be evaluated [42][43][44]. Besides, the QR model is robust and provides more efficient estimations over the entire distribution spectrum to analyze the relations between different economic and social factors affected by the COVID-19 shock [45][46][47][48][49]. The study used data from 2018 and 2019 to compare the price returns with its response in 2020.…”

Section: Introductionmentioning

confidence: 99%

Effects of the COVID-19 Pandemic on the Spot Price of Colombian Electricity

2021

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COVID-19 disease shocked global economic activity and affected the electricity markets due to lockdown and work-from-home policies. Therefore, this study proposes an empirical analysis to identify the electricity spot price response during the preventive and mandatory insulation in Colombia, where the economic contraction caused the largest decrease in the electricity demand, especially in the industrial sector. The methodology applied was quantile regression to quantify the non-linear effect on the spot price returns, and two sample periods were selected to contrast the results: 2018 and 2019. The main findings showed that regulated demand variation caused the highest variability on the spot price dynamic during the strict quarantine. However, the price could not fully capture the effects of the demand change due to the short duration of the shock and, also, the price variability in 2019 was higher than 2020 by an El Niño shock.

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COVID-19-related government interventions and travel and leisure stock

Cited by 39 publications

References 45 publications

The Impact of Economic Variables on the Travel and Leisure Industry of Japan, the USA, Germany, and the UK

The Impact of Economic Variables on the Travel and Leisure Industry of Japan, the USA, Germany, and the UK

Pandemic waves, government response, and bank stock returns: evidence from 36 countries

Effects of the COVID-19 Pandemic on the Spot Price of Colombian Electricity

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