References
- Alizadeh, S., Brandt, M. W., & Diebold, F. X. (2002). Range-Based estimation of stochastic volatility models. The Journal of Finance, 57(3), 1047–1091. https://doi.org/https://doi.org/10.1111/1540-6261.00454
- Amihud, Y. (2002). Illiquidity and stock returns: Cross-section and time-series effects. Journal of Financial Markets, 5(1), 31–56. https://doi.org/https://doi.org/10.1016/S1386-4181(01)00024-6
- Banz, R. W. (1981). The relationship between return and market value of common stocks. Journal of Financial Economics, 9(1), 3–18. https://doi.org/https://doi.org/10.1016/0304-405X(81)90018-0
- Brown, S. J., & Warner, J. B. (1985). Using daily stock returns: The case of event studies. Journal of Financial Economics, 14(1), 3–31. https://doi.org/https://doi.org/10.1016/0304-405X(85)90042-X
- Carter, D., Mazumder, S., Simkins, B., & Sisneros, E. (2021). The stock price reaction of the COVID-19 pandemic on the airline, hotel, and tourism industries. Finance Research Letters, 102047, https://doi.org/https://doi.org/10.1016/J.FRL.2021.102047
- Chaturvedula, C., Bang, N. P., Rastogi, N., & Kumar, S. (2015). Price manipulation, front running and bulk trades: Evidence from India. Emerging Markets Review, 23, 26–45. https://doi.org/https://doi.org/10.1016/j.ememar.2015.04.001
- Chen, H., Huang, X., & Li, Z. (2020). A content analysis of Chinese news coverage on COVID-19 and tourism. Current Issues in Tourism, 1–8. https://doi.org/https://doi.org/10.1080/13683500.2020.1763269
- Chhatwal, H., & Lamba, A. (2018). Factors affecting abnormal returns around bonus Issue announcements: An empirical analysis of CNX 500 companies. MUDRA: Journal of Finance and Accounting, 4(02), 1–21. https://doi.org/https://doi.org/10.17492/mudra.v4i02.11445
- Duffee, G. R. (1995). Stock returns and volatility a firm-level analysis. Journal of Financial Economics, 37(3), 399–420. https://doi.org/https://doi.org/10.1016/0304-405X(94)00801-7
- Fama, E. F., & French, K. R. (1995). Size and book-to-Market Factors in Earnings and returns. The Journal of Finance, 50(1), 131–55. https://doi.org/https://doi.org/10.1111/j.1540-6261.1995.tb05169.x
- Farooq, U., Nasir, A. B., & Quddoos, M. U. (2021). The impact of COVID-19 pandemic on abnormal returns of insurance firms: A cross-country evidence. Applied Economics, 53(31), 3658–3678. https://doi.org/https://doi.org/10.1080/00036846.2021.1884839
- Fotiadis, A., Polyzos, S., & Huan, T. C. T. C. (2021). The good, the bad and the ugly on COVID-19 tourism recovery. Annals of Tourism Research, 87, 103117. https://doi.org/https://doi.org/10.1016/j.annals.2020.103117
- Frankel, R., & Lee, C. M. C. (1998). Accounting valuation, market expectation, and cross-sectional stock returns. Journal of Accounting and Economics, 25(3), 283–319. https://doi.org/https://doi.org/10.1016/S0165-4101(98)00026-3
- George, T. J., & Hwang, C. Y. (2010). A resolution of the distress risk and leverage puzzles in the cross section of stock returns. Journal of Financial Economics, 96(1), 56–79. https://doi.org/https://doi.org/10.1016/J.JFINECO.2009.11.003
- Gompers, P. A., & Metrick, A. (2001). Institutional Investors and Equity prices. The Quarterly Journal of Economics, 116(1), 229–259. https://doi.org/https://doi.org/10.1162/003355301556392
- Griffin, J. M., & Lemmon, M. L. (2002). Book-to-Market equity, distress risk, and stock returns. The Journal of Finance, 57(5), 2317–2336. https://doi.org/https://doi.org/10.1111/1540-6261.00497
- Grinblatt, M., & Titman, S. (1989). Mutual fund performance: An analysis of Quarterly portfolio holdings. The Journal of Business, 62(3), 393–416. https://doi.org/https://doi.org/10.1086/296468
- Hall, C. M., & Cooper, C. (2021). Introduction to Current Issues in Asia: COVID-19 and beyond. In C. M. Hall, & C. Cooper (Eds.), Current Issues in asian tourism: Volume II: Vol. II 1st ed., (pp. 3–8). Routledge.
- Hu, H., Yang, Y., & Zhang, J. (2021). Avoiding panic during pandemics: COVID-19 and tourism-related businesses. Tourism Management, 86, 104316. https://doi.org/https://doi.org/10.1016/j.tourman.2021.104316
- Jawed, M. S., Vinod Tapar, A., & Dhaigude, A. S. (2021). Crisis, firm characteristics and stock performance: Evidence from Hospitality and tourism sector. Tourism Recreation Research, https://doi.org/https://doi.org/10.1080/02508281.2021.1899536
- Ji, H. (2019). The impact of Interest Coverage ratio on value relevance of reported earnings: Evidence from South Korea. Sustainability, 11(24), https://doi.org/https://doi.org/10.3390/su11247193
- Jose, M. L., Lancaster, C., & Stevens, J. L. (1996). Corporate returns and cash conversion cycles. Journal of Economics and Finance, 20(1), 33–46. https://doi.org/https://doi.org/10.1007/BF02920497
- Li, J., Zhang, Y., & Wang, L. (2021). Information transmission between large shareholders and stock volatility. The North American Journal of Economics and Finance, 58, 101551. https://doi.org/https://doi.org/10.1016/J.NAJEF.2021.101551
- Liew, V. K.-S. (2020). Abnormal returns on tourism shares in the Chinese stock exchanges amid the COVID-19 pandemic. International Journal of Economics and Management, 14(2), 247–262. https://doi.org/https://doi.org/10.2139/ssrn.3863889
- Pandey, D. K., & Kumari, V. (2020). Performance of the Indian tourism and Hospitality stocks during the 2019-nCoV outbreak-An event study using stocks listed on the NSE. Orissa Journal of Commerce, XXXXI(2), 19–30. https://doi.org/https://doi.org/10.5281/zenodo.4698464
- Rensburg, P. v., & Robertson, M. (2003). Size, price-to-earnings and beta on the JSE securities exchange. Investment Analysts Journal, 32(58), 7–16. https://doi.org/https://doi.org/10.1080/10293523.2003.11082449
- Seraphin, H. (2021). COVID-19: An opportunity to review existing grounded theories in event studies. Journal of Convention and Event Tourism, 22(1), 3–35. https://doi.org/https://doi.org/10.1080/15470148.2020.1776657
- Wu, W., Lee, C.-C., Xing, W., & Ho, S.-J. (2021). The impact of the COVID-19 outbreak on Chinese-listed tourism stocks. Financial Innovation, 7(1). https://doi.org/https://doi.org/10.1186/s40854-021-00240-6
- Yan, X. (Sterling), & Zhang, Z. (2009). Institutional Investors and Equity returns: Are short-term institutions better informed? Review of Financial Studies, 22(2), 893–924. https://doi.org/https://doi.org/10.1093/revfin/hhl046
- Yang, Y., Altschuler, B., Liang, Z., & Li, X. (2020). Monitoring the global COVID-19 impact on tourism: The COVID19 tourism index. Annals of Tourism Research, (90), https://doi.org/https://doi.org/10.1016/j.annals.2020.103120