Into the unknown: impact of Coronavirus on UK hotel stock performance

Article


Izadi, J., Foroudi, P. and Nazarian, A. 2021. Into the unknown: impact of Coronavirus on UK hotel stock performance. European Journal of International Management. https://doi.org/10.1504/EJIM.2022.10059238
TypeArticle
TitleInto the unknown: impact of Coronavirus on UK hotel stock performance
AuthorsIzadi, J., Foroudi, P. and Nazarian, A.
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.

PublisherInderscience
JournalEuropean Journal of International Management
ISSN1751-6757
Electronic1751-6765
Publication process dates
Deposited25 May 2021
Submitted06 Feb 2020
Accepted22 May 2021
Output statusIn press
Copyright Statement

This author's accepted manuscript version is made available as permitted by the publisher's Article Sharing Policy https://www.inderscience.com/mobile/inauthors/index.php?pid=74

Web address (URL)https://www.inderscience.com/info/ingeneral/forthcoming.php?jcode=ejim
Digital Object Identifier (DOI)https://doi.org/10.1504/EJIM.2022.10059238
LanguageEnglish
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