Examining the impact of Halal tourism industry sustainability on stock returns
Bibliographic Data
| ID | 21689253 |
|---|---|
| Authors | Mohammad Ashraful Ferdous Chowdhury (0000-0003-2286-5729, Shahjalal University of Science & Technology, Bangladesh), Mohammad Abdullah (0000-0001-7820-1599, University of Southampton Malaysia, Malaysia), Zunaidah Sulong (0000-0002-4150-3136, Universiti Sultan Zainal Abidin, Malaysia, corresponding author) |
| Year | 2025 |
| Volume | 31 |
| Issue | 5 |
| Pages | 843-860 |
| Publication date | 2025-08-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Tourism Economics (JOURNAL) |
| Journal identifiers | ISSN: 1354-8166 • E-ISSN: 2044-0375 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/13548166241265820 |
| OpenAlex | W4400867517 |
| Language | EN |
| References cited | 73 |
This study investigates the relationship between sustainable industry performance and stock returns of the Halal tourism sector. We use a comprehensive dataset comprising 192 Halal tourism firms from 38 countries over the period of 2010–2020. Our baseline analysis reveals a significant positive impact of sustainable industry performance on Halal tourism stock returns. To control endogeneity issues, we employ advanced econometric techniques, including dynamic Generalized Method of Moments and confirms the robustness of our initial results. Furthermore, we document the adverse effects of the COVID-19 pandemic on Halal tourism stocks, underscoring the vulnerability of the industry to external shocks. Additionally, our subsample analysis highlights that firms with lower levels of sustainability experience negative repercussions on their stock returns. The findings offer valuable insights for investors, policymakers, and industry stakeholders, emphasizing the importance of sustainable strategies in enhancing both financial outcomes and resilience in the ever-evolving landscape of Halal tourism
Business · Geography · Sustainability · Tourism · Halal products and consumer behavior · Islamic Finance and Banking Studies · Organizational and Employee Performance · Marketing
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| Highly cited | No |
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