Sentiment, Confidence and Uncertainty: The Case of Tourism and Leisure Stocks

Aharon, David Y.

doi:10.1177/1938965520978170

Cited by 9 publications

(5 citation statements)

References 42 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…They also find evidence of the long-run association between the VIX and tourism stock returns. Aharon (2020) finds a significant influence of the volatility index on the performance of the T&L sector in the US. The findings of the study also provide evidence of the significant impact of consumer confidence and consumer sentiment on the dynamics of the T&L stocks.…”

Section: Review Of the Literaturementioning

confidence: 99%

European travel and leisure sector and uncertainties: A risk spillover analysis

Kumar

2021

Tourism Economics

View full text Add to dashboard Cite

The study analyzes the impact of uncertainty changes on the European travel and leisure sector stocks. We use economic policy uncertainty, geopolitical uncertainty, financial market uncertainty, and crude oil price uncertainty as uncertainty variables. We also analyze the extreme risk transmission from the uncertainty variables to the European travel and leisure sector stocks using the copula-based conditional Value-at-Risk (CoVaR) approach. The findings provide evidence of a significant impact of uncertainty variables on travel and leisure stocks mainly on the lower quantiles. The findings also indicate the significant downside and upside risk spillover effect from the extreme upside and downside movements in the uncertainty variables, respectively. The findings have implications for individual investors, portfolio managers, and institutional investors.

show abstract

Section: Review Of the Literaturementioning

confidence: 99%

European travel and leisure sector and uncertainties: A risk spillover analysis

Kumar

2021

Tourism Economics

View full text Add to dashboard Cite

show abstract

“…Kumar (2021) expanded upon this effort by applying the copula-based conditional value-at-risk method to analyze the impact of uncertainty on European T&L stocks from the perspectives of EPU, GPR, the financial market, and crude oil price uncertainty. Aharon (2022) identified the effects of the Consumer Sentiment Index, EPU, and the Volatility Index on T&L stocks in the United States via OLS, GARCH, and quantile regression, respectively. Hadi et al (2022) analyzed the effects of financial and economic uncertainty on U.S. tourism subsector stocks based on the time-varying vector autoregression model.…”

Section: Literature Reviewmentioning

confidence: 99%

Global and domestic economic policy uncertainties and tourism stock market: Evidence from China

et al. 2023

View full text Add to dashboard Cite

This study investigates the impacts of global economic policy uncertainty (GEPU) and domestic (Chinese) economic policy uncertainty (CEPU) on the long-run volatility of the tourism stock market in China based on an improved GARCH–MIDAS–X model. Empirical results reveal that both CEPU and GEPU have significant negative effects on the long-run volatility of China’s tourism stock market. It is further identified that the impact of GEPU on tourism companies’ performance is short-lived. The findings suggest that tourism-related practitioners should monitor both CEPU and GEPU when conducting risk assessments related to tourism investment and policymaking.

show abstract

“…Tree dimensions, namely, travel intentions, trip planning, and travel concerns, were combined under the concept of travel sentiment [22][23][24]. According to empirical research conducted by Aharon [25], sentiment played a signifcant role in the tourist and leisure industries whereas macroeconomic considerations had minimal impact. Travel sentiment has been used with a focus on interpreting the causal factors pertaining to tourist development [26].…”

Section: Literature Reviewmentioning

confidence: 99%

Forecasting Travel Sentiment under the Shock Effects of COVID-19 and Vaccination Using Grey Prediction Models

Lee

Kong

2023

Journal of Mathematics

View full text Add to dashboard Cite

The tourism industry has become a major contributor to the economic growth. However, because of the outbreak of the coronavirus disease (COVID-19) pandemic, the year 2020 became an extremely difficult year for the global tourism industry. Since the development of the tourism industry depends largely on changes in travel sentiment, it is important to analyze these changes in light of the pandemic. To determine the development trends of travel sentiment, a hybrid grey prediction model was used to predict travel sentiment globally and in the top 10 destination countries considering the shock effect of COVID-19 and vaccination. The results showed that the grey prediction models integrated with residual modification model contributed to improving the prediction accuracy. In addition, COVID-19 and vaccination were found to have opposite effects on travel sentiment. Based on the predictions, governments should strengthen pandemic prevention and control and administer vaccines to restore travel sentiment and promote tourism recovery.

show abstract

Sentiment, Confidence and Uncertainty: The Case of Tourism and Leisure Stocks

Cited by 9 publications

References 42 publications

European travel and leisure sector and uncertainties: A risk spillover analysis

European travel and leisure sector and uncertainties: A risk spillover analysis

Global and domestic economic policy uncertainties and tourism stock market: Evidence from China

Forecasting Travel Sentiment under the Shock Effects of COVID-19 and Vaccination Using Grey Prediction Models

Contact Info

Product

Resources

About