INTO THE UNKNOWN: Impact of Coronavirus on UK hotel stock performance

Izadi, Javad ORCID: https://orcid.org/0000-0001-5607-5077, Foroudi, Pantea and Nazarian, Alireza (2021) INTO THE UNKNOWN: Impact of Coronavirus on UK hotel stock performance. European Journal of International Management. ISSN 1751-6757 (In Press)

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Abstract

As the Coronavirus disease (COVID-19) spread in March 2020, it crashed economies across the world, including in the UK. This study investigates the impact of the COVID-19 pandemic outbreak on the stock return of publicly listed hotels in the UK. By employing the event-study approach, this study (i) scrutinizes the effect of the Coronavirus pandemic on UK hotel stock price changes, (ii) examines how the magnitude of the COVID-19 outbreak has affected stock price movements in the UK market place, and (iii) examines how COVID-19 has impacted the hotel industry via the reactions of the stock market. Our results show that listed hotels in the stock market experienced substantial negative cumulative abnormal returns. This article’s findings could be useful for businesses to be better prepared for similar future pandemics.

Item Type: Article
Uncontrolled Keywords: Coronavirus (COVID-19) pandemic; event study method; abnormal stock return; hotel industry
Subjects: Business and finance > Business and management > Business operations
Related URLs:
Depositing User: Javad Izadi
Date Deposited: 25 May 2021 14:54
Last Modified: 25 May 2021 15:07
URI: http://repository.uwl.ac.uk/id/eprint/7895

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