Spillovers from tourism demand to tourism equity indices

• Faruk Balli ^{[1] [3]} ; Muhammad Abubakr Naeem ^[2] ; Ozer Balli, Hatice ^[1]
  1. [1] Massey University

     Massey University

     Nueva Zelanda

     
  2. [2] University College Dublin

     University College Dublin

     Irlanda

     
  3. [3] Al-Farabi Kazakh National University

     Al-Farabi Kazakh National University

     Kazajistán

     

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• Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 28, Nº. 8, 2022, págs. 2228-2235
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • In this article, we analyse the extent of the spillover from international tourism demand on tourism sector equity indices and find that the magnitude of the spillovers are quite dispersed across different markets, which is in line with previous studies. Novel to the literature, we examine the impact of solvency and profitability positions of the firms in the tourism equity indices on evaluating the magnitude of the spillovers from tourism demand to sector equity indices. Firms that have better solvency ratios and operated in deeper financial markets find their stock returns are affected less from the fluctuations in tourism demand. Profitability positions of the firms, however, do not have significant impact on explaining the spillovers.