Influence of COVID-19 pandemic on the tourism sector: evidence from China and United States stocks

Wang, Yiwei; Najaf, Khakan; Frederico, Guilherme F.; Atayah, Osama F.

doi:10.1080/13683500.2021.1972944

Cited by 32 publications

(25 citation statements)

References 81 publications

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“…Overall, we find that the hospitality and entertainment sectors of both developed and developing countries documented negative AARs within the first 40 days following the first COVID‐19 case. Our findings confirm that the COVID‐19 pandemic panic significantly influenced the investors' reactions and adversely affected stock returns, consistent with prior studies' results (Kaczmarek et al, 2021 ; Yiwei et al, 2021 ).…”

Section: Resultssupporting

confidence: 92%

“…Moreover, the negative implications of the pandemic have surpassed previous extreme and endogenous events. Consequently, investors are always interested in measuring the adverse emergency events like the COVID‐19 pandemic to adjust their portfolio strategies and overcome the economic impacts of such events on the tourism industry (Gounder & Cox, 2021 ; Hanafiah et al, 2021 ; Kaczmarek et al, 2021 ; Yiwei et al, 2021 ).…”

Section: Introductionmentioning

confidence: 99%

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Stock returns, government response strategies, and daily new case bursts during COVID‐19: A cross‐country perspective

et al. 2022

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The purpose of the current research is to examine the influence of COVID‐19 pandemic related governmental policies and the bursts (e.g., drastic increases in cases during certain periods) of COVID‐19 cases on the abnormal returns of 725 hospitality and entertainment companies from the United States (US), China, the United Kingdom (UK), India, Thailand, Turkey, Mexico, and France. The study uses daily data from January 1, 2020, to November 20, 2021 and event study methodology. Our results offer the following insights. First, the response in the early days of COVID‐19 was negative for both the hospitality and entertainment sectors. Second, regarding government response strategies: (1) announcements of stimulus packages negatively affected China's entertainment and the UK's hospitality and entertainment sectors, but positively impacted the US's hospitality sector; (2) lockdown announcements adversely affected abnormal returns only in the US's hospitality and entertainment sectors; and (3) travel restrictions affected the US hospitality and Chinese and Indian entertainment sectors in the early stages of the pandemic. Third, regarding COVID‐19 case bursts, the results showed more negative abnormal returns during the first burst in the developed countries compared to undeveloped countries, while in the second burst, investors reacted more rationally, resulting in less negative abnormal returns. Conversely, more negative abnormal returns were found in the second bursts in India and Turkey. We conclude that COVID‐19's impact differed between developed and developing countries. Our findings suggest that investors should consider these differential effects when devising their portfolio strategies during COVID‐19 or the similar situations.

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Section: Resultssupporting

confidence: 92%

Section: Introductionmentioning

confidence: 99%

Stock returns, government response strategies, and daily new case bursts during COVID‐19: A cross‐country perspective

et al. 2022

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“…Considering the COVID-19 pandemic may increase the number of publications for the next five years since it is expected to see more research output to investigate the implications of COVID-19 on the accounting profession (Atayah et al. , 2021; Najaf et al , 2021a, b; Yiwei et al , 2021).…”

Section: Resultsmentioning

confidence: 99%

Ten years ofJournal of Accounting in Emerging Economies: a review and bibliometric analysis

Najaf

Atayah

Devi

2021

JAEE

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PurposeThe Journal of Accounting in Emerging Economies (JAEE), established in 2011, aims to publish research on contemporary accounting issues in emerging economies. This study used the bibliometric and scientometric approaches to provide deeper insights into the journal performance, prominent topics, author's contributions and citation structure. Content analysis was conducted to provide insights on the major themes addressed in JAEE.Design/methodology/approachThis study analyses data from the Scopus database, Google Scholar and Journal website. The total number of documents analysed are 190. This study employs VOSviewer and RStudio to conduct the analysis which is categorised into four major parts: General performance indicators, citation structure, network analysis and content analysis.FindingsSince JAEE commenced publication in 2011 and indexed in the Scopus in 2018, it achieved a 14.47% annual growth rate in document publication. It is encouraging to note that 88.4% of published documents were cited. In terms of total publication, the top contributing country is Malaysia; the USA is the primary contributor in citations. Five key themes emerged from the content analysis namely, international standards and earnings quality; audit quality and IFRS practices in emerging economies; corporate governance; financial reporting and earnings management; corruption and accounting disclosure; and ownership structure and firm performance.Originality/valueThis study offers a comprehensive assessment to the journal stakeholders about the past and current journal performance besides future trends and perspectives. Additionally, JAEE readers can gain insight into the nature of academic contributions in JAEE from 299 authors of 273 affiliated institutions in 67 countries.

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“…The prior literature takes a dummy of “1” if the year is 2020 and “0” otherwise to show the yearly impact of COVID-19 on the dependent variables (Atayah et al. , 2021a, b; Yiwei et al. , 2021).…”

Section: Method Sample and Datamentioning

confidence: 99%

Role of ICT for workers’ safety at the workplace during pandemics: evidence from global data

Najaf

Dhiaf²,

Nasrallah

et al. 2022

JHLSCM

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PurposeThis study contributes to the extant literature on ICT firms by investigating the interrelationship between the health and safety (H&S) measures, market performance, and the coronavirus (COVID-19).Design/methodology/approachTo conduct the confirmatory analysis by testing our hypotheses, data have been collected from Bloomberg of all ICT firms from five countries. The authors gathered from 2010 until 2020 as the research sample to examine the pandemic impact on market performance and H&S measures.FindingsFirst, our results reveal a significant and positive relationship between market performance (proxied by Tobin’s Q) and the H&S measures of information technology (IT) firms. Second, the authors find that the IT firms have significantly increased the H&S measures during the COVID-19 period and were dynamic in linking employees’ adaptive capabilities to positive attributes. This has contributed to business success, resiliency, and sustainability.Research limitations/implicationsThe authors used a quantitative method of testing our hypotheses. Future studies may consider checking the robustness using qualitative methods such as structural or semi-structural interviews.Practical implicationsThe study offers valuable insights to academics, practitioners, stakeholders, policymakers, and international entities by fostering knowledge about responses to crises, integrating digital solutions, and disseminating digital information. The study also has implications on the health, social, business, and economic levels. This study is a call for international and local humanitarian organisations such as United Nations High Commission, Care international and many more to understand the gravity of safety of the workers in the workplace during the pandemic period and introduce a firm-level policy accordingly.Originality/valueThis paper is novel considering that the paper is unique in evaluating ICT firms’ market performance and H&S from a global perspective, considering the context of this historical pandemic.

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Influence of COVID-19 pandemic on the tourism sector: evidence from China and United States stocks

Cited by 32 publications

References 81 publications

Stock returns, government response strategies, and daily new case bursts during COVID‐19: A cross‐country perspective

Stock returns, government response strategies, and daily new case bursts during COVID‐19: A cross‐country perspective

Ten years ofJournal of Accounting in Emerging Economies: a review and bibliometric analysis

Role of ICT for workers’ safety at the workplace during pandemics: evidence from global data

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