Solidarity actions with Ukraine and hospitality firm value

被引：1
|
作者：
Nicolau, Juan Luis [1 ]
Poretti, Cedric [2 ]
Heo, Cindy Yoonjoung [2 ]
机构：
[1] Virginia Tech, Pamplin Coll Business, Howard Feiertag Dept Hospitality & Tourism Managem, Blacksburg, VA 24061 USA
[2] Univ Appl Sci & Arts Western Switzerland, EHL Hospitality Business Sch, HES SO, Delemont, Switzerland
来源：
TOURISM MANAGEMENT | 2024年 / 100卷
关键词：
Solidarity; Ukraine; Firm value; Event study; SAMPLE SELECTION BIAS; IMPACT;
D O I：
10.1016/j.tourman.2023.104813
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
The objective of this research note is to analyze the effect of solidarity actions following the invasion of Ukraine on hotel and restaurant firms' market value. Press releases and corporate websites of 117 companies were investigated to determine the actions taken in response to the Russian invasion of Ukraine. Then, using an event study methodology, cumulative abnormal returns were calculated following the actions taken. The results indicate that first movers benefited the most from solidarity actions, while middle-point intensity actions (versus strong or light actions) brought about the highest effects on market value.
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页数：5
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