Did COVID-19 tourism sector supports alleviate investor fear?
Ann Tour Res
; 95: 103434, 2022 Jul.
Article
in English
| MEDLINE | ID: covidwho-1881674
ABSTRACT
The COVID-19 pandemic presented a dynamic black-swan event to which governments implemented support programmes to reduce sectoral probability of default. This research analyses investor response to such assistance, designed to mitigate the effects of the pandemic upon international aviation and tourism. Investor confidence in such support schemes is estimated through short-term abnormal returns. Results indicate significant differential behaviour, with fiscal policy found to be a dominant and largely effective mechanism generating median abnormal returns of 2.17 %. Specific assistance programmes relating to COVID-19 loan facilities, and the provision of pandemic relief packages significantly alleviated short-term investor concerns with median abnormal returns estimated between 2.87 % and 3.89 % respectively. Our empirical results offer investors and policymakers an additional layer of information.
Full text:
Available
Collection:
International databases
Database:
MEDLINE
Language:
English
Journal:
Ann Tour Res
Year:
2022
Document Type:
Article
Affiliation country:
J.annals.2022.103434
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