The Covid-19 pandemic and stock market performance of transportation and travel services firms
A cross-country study
Datos Bibliográficos
| ID | 15066769 |
|---|---|
| Autores | Umar Farooq (0000-0002-5772-5243, National University of Computer and Emerging Sciences), Adeel Nasir (0000-0002-4065-3159, Lahore College for Women University), Boubellouta Bilal (0000-0001-6599-6687, Accounting School, Hubei University of Economics, Wuhan, China, autor de correspondencia), Muhammad Farhan Bashir (0000-0001-5103-4639, Central South University) |
| Año | 2022 |
| Volumen | 35 |
| Número | 1 |
| Páginas | 6867-6883 |
| Fecha de publicación | 2022-12-31 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Identificadores de la revista | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Editorial | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2022.2053784 |
| OpenAlex | W4226118508 |
| Idioma | EN |
| Citas recibidas | 4 |
| Referencias citadas | 51 |
This paper examined the firm-specific abnormal returns of transportation and travel services sectors from the USA, UK, France, China, India, Mexico, Turkey, and Thailand in response to Coronavirus Disease 2019 (COVID-19) using event study methodology. Our results revealed that investors in developed countries provide significant long term abnormal returns for the first 101 days. Furthermore, no significant cumulative average abnormal returns (CAAR) were found in response to the COVID-19 outbreak, travel restrictions, lockdown, stimulus package, and historical decline in oil prices except in the case of the USA. It is concluded that with the gradual increase in new cases and deaths, abnormal returns are also adjusted, making the effects of these events insignificant at the time of their occurrence. Results also showed that firms in developing countries recognized significant negative abnormal returns in response to the second wave of COVID-19. These results are useful for investors in devising investment strategies relevant to contextual settings
2019-20 coronavirus outbreak · Business · China · Demographic economics · Disease · Economics · Event study · Financial economics · Geography · Monetary economics · Outbreak · Pandemic · Stock market · COVID-19 epidemiological studies · COVID-19 Pandemic Impacts · Market Dynamics and Volatility · Medicine · Virology
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| Obras citantes distintas | 4 |
|---|---|
| Citas por año | 1,33 |
| Intervalo de citas | 2023 - 2025 (3) |
| Velocidad de citación | recent |
| Altamente citado | No |
| Tipos de cita | Neutras: 3 |