Self-restraint, subsidy, and stock market reactions to the coronavirus outbreak: Evidence from the Japanese restaurant industry.
PLoS One
; 17(12): e0278876, 2022.
Article
in English
| MEDLINE | ID: covidwho-2162587
ABSTRACT
This study examined the stock market response of the Japanese restaurant industry to the announcement of the self-restraint request and subsidy for restaurants by the Japanese government during the coronavirus outbreak. Using the event study approach, it was found that the market reacted negatively to the self-restraint request and positively to the subsidy for restaurants. Following the announcement of the self-restraint request, investors in the restaurant industry responded positively to the government's stringent policy responses. Conversely, following the announcement on the "dining-out" subsidy, investors reacted negatively to the stringent government policies. Our findings provide useful information for policy makers and practitioners to mitigate losses in the hospitality industry during the pandemic.
Full text:
Available
Collection:
International databases
Database:
MEDLINE
Main subject:
Restaurants
/
COVID-19
Type of study:
Observational study
Limits:
Humans
Country/Region as subject:
Asia
Language:
English
Journal:
PLoS One
Journal subject:
Science
/
Medicine
Year:
2022
Document Type:
Article
Affiliation country:
Journal.pone.0278876
Similar
MEDLINE
...
LILACS
LIS