The impact of the SARS outbreak on Taiwanese hotel stock performance: An event-study approach
Identifieur interne : 003C62 ( Main/Exploration ); précédent : 003C61; suivant : 003C63The impact of the SARS outbreak on Taiwanese hotel stock performance: An event-study approach
Auteurs : Ming-Hsiang Chen [République populaire de Chine] ; Soocheong Shawn Jang [États-Unis] ; Woo Gon Kim [États-Unis]Source :
- International Journal of Hospitality Management [ 0278-4319 ] ; 2006.
Abstract
The severe acute respiratory syndrome (SARS) outbreak in 2003 weakened the Taiwanese economy. The tourism industry suffered the most, experiencing the highest stock price decline (approximately 29 percent) within a month of the SARS outbreak. This research examined the effect of the SARS epidemic on Taiwanese hotel stock price movements using an event-study approach. Seven publicly traded hotel companies experienced steep declines in earnings and stock price during the SARS outbreak period. On and after the day of the SARS outbreak, Taiwanese hotel stocks showed significantly negative cumulative mean abnormal returns, indicating a significant impact of the SARS outbreak on hotel stock performance. Empirical findings could be used to prepare businesses for the similar epidemics, such as a deadly bird-flu epidemic.
Url:
DOI: 10.1016/j.ijhm.2005.11.004
PubMed: NONE
PubMed Central: 7116915
Affiliations:
Links toward previous steps (curation, corpus...)
- to stream Pmc, to step Corpus: 001080
- to stream Pmc, to step Curation: 001080
- to stream Pmc, to step Checkpoint: 001030
- to stream Ncbi, to step Merge: 004094
- to stream Ncbi, to step Curation: 004094
- to stream Ncbi, to step Checkpoint: 004094
- to stream Main, to step Merge: 003E26
- to stream Main, to step Curation: 003C62
Le document en format XML
<record><TEI><teiHeader><fileDesc><titleStmt><title xml:lang="en">The impact of the SARS outbreak on Taiwanese hotel stock performance: An event-study approach</title><author><name sortKey="Chen, Ming Hsiang" sort="Chen, Ming Hsiang" uniqKey="Chen M" first="Ming-Hsiang" last="Chen">Ming-Hsiang Chen</name><affiliation wicri:level="1"><nlm:aff id="aff1">Department of Finance, National Chung Cheng University, Chia-Yi, Taiwan, ROC</nlm:aff><country xml:lang="fr" wicri:curation="lc">République populaire de Chine</country><wicri:regionArea>Department of Finance, National Chung Cheng University, Chia-Yi, Taiwan</wicri:regionArea><wicri:noRegion>Taiwan</wicri:noRegion></affiliation></author><author><name sortKey="Jang, Soocheong Shawn" sort="Jang, Soocheong Shawn" uniqKey="Jang S" first="Soocheong Shawn" last="Jang">Soocheong Shawn Jang</name><affiliation wicri:level="2"><nlm:aff id="aff2">Department of Hospitality and Tourism Management, Purdue University, Stone Hall, Room B-9, West Lafayette, IN 47907-2059, USA</nlm:aff><country xml:lang="fr">États-Unis</country><wicri:regionArea>Department of Hospitality and Tourism Management, Purdue University, Stone Hall, Room B-9, West Lafayette, IN 47907-2059</wicri:regionArea><placeName><region type="state">Indiana</region></placeName></affiliation></author><author><name sortKey="Kim, Woo Gon" sort="Kim, Woo Gon" uniqKey="Kim W" first="Woo Gon" last="Kim">Woo Gon Kim</name><affiliation wicri:level="2"><nlm:aff id="aff3">School of Hotel and Restaurant Administration, Oklahoma State University, 210 HESW, Stillwater, OK 74078-6173, USA</nlm:aff><country xml:lang="fr">États-Unis</country><wicri:regionArea>School of Hotel and Restaurant Administration, Oklahoma State University, 210 HESW, Stillwater, OK 74078-6173</wicri:regionArea><placeName><region type="state">Oklahoma</region></placeName></affiliation></author></titleStmt><publicationStmt><idno type="wicri:source">PMC</idno><idno type="pmc">7116915</idno><idno type="url">http://www.ncbi.nlm.nih.gov/pmc/articles/PMC7116915</idno><idno type="RBID">PMC:7116915</idno><idno type="doi">10.1016/j.ijhm.2005.11.004</idno><idno type="pmid">NONE</idno><date when="2006">2006</date><idno type="wicri:Area/Pmc/Corpus">001080</idno><idno type="wicri:explorRef" wicri:stream="Pmc" wicri:step="Corpus" wicri:corpus="PMC">001080</idno><idno type="wicri:Area/Pmc/Curation">001080</idno><idno type="wicri:explorRef" wicri:stream="Pmc" wicri:step="Curation">001080</idno><idno type="wicri:Area/Pmc/Checkpoint">001030</idno><idno type="wicri:explorRef" wicri:stream="Pmc" wicri:step="Checkpoint">001030</idno><idno type="wicri:Area/Ncbi/Merge">004094</idno><idno type="wicri:Area/Ncbi/Curation">004094</idno><idno type="wicri:Area/Ncbi/Checkpoint">004094</idno><idno type="wicri:doubleKey">0278-4319:2006:Chen M:the:impact:of</idno><idno type="wicri:Area/Main/Merge">003E26</idno><idno type="wicri:Area/Main/Curation">003C62</idno><idno type="wicri:Area/Main/Exploration">003C62</idno></publicationStmt><sourceDesc><biblStruct><analytic><title xml:lang="en" level="a" type="main">The impact of the SARS outbreak on Taiwanese hotel stock performance: An event-study approach</title><author><name sortKey="Chen, Ming Hsiang" sort="Chen, Ming Hsiang" uniqKey="Chen M" first="Ming-Hsiang" last="Chen">Ming-Hsiang Chen</name><affiliation wicri:level="1"><nlm:aff id="aff1">Department of Finance, National Chung Cheng University, Chia-Yi, Taiwan, ROC</nlm:aff><country xml:lang="fr" wicri:curation="lc">République populaire de Chine</country><wicri:regionArea>Department of Finance, National Chung Cheng University, Chia-Yi, Taiwan</wicri:regionArea><wicri:noRegion>Taiwan</wicri:noRegion></affiliation></author><author><name sortKey="Jang, Soocheong Shawn" sort="Jang, Soocheong Shawn" uniqKey="Jang S" first="Soocheong Shawn" last="Jang">Soocheong Shawn Jang</name><affiliation wicri:level="2"><nlm:aff id="aff2">Department of Hospitality and Tourism Management, Purdue University, Stone Hall, Room B-9, West Lafayette, IN 47907-2059, USA</nlm:aff><country xml:lang="fr">États-Unis</country><wicri:regionArea>Department of Hospitality and Tourism Management, Purdue University, Stone Hall, Room B-9, West Lafayette, IN 47907-2059</wicri:regionArea><placeName><region type="state">Indiana</region></placeName></affiliation></author><author><name sortKey="Kim, Woo Gon" sort="Kim, Woo Gon" uniqKey="Kim W" first="Woo Gon" last="Kim">Woo Gon Kim</name><affiliation wicri:level="2"><nlm:aff id="aff3">School of Hotel and Restaurant Administration, Oklahoma State University, 210 HESW, Stillwater, OK 74078-6173, USA</nlm:aff><country xml:lang="fr">États-Unis</country><wicri:regionArea>School of Hotel and Restaurant Administration, Oklahoma State University, 210 HESW, Stillwater, OK 74078-6173</wicri:regionArea><placeName><region type="state">Oklahoma</region></placeName></affiliation></author></analytic><series><title level="j">International Journal of Hospitality Management</title><idno type="ISSN">0278-4319</idno><idno type="eISSN">1873-4693</idno><imprint><date when="2006">2006</date></imprint></series></biblStruct></sourceDesc></fileDesc><profileDesc><textClass></textClass></profileDesc></teiHeader><front><div type="abstract" xml:lang="en"><p>The severe acute respiratory syndrome (SARS) outbreak in 2003 weakened the Taiwanese economy. The tourism industry suffered the most, experiencing the highest stock price decline (approximately 29 percent) within a month of the SARS outbreak. This research examined the effect of the SARS epidemic on Taiwanese hotel stock price movements using an event-study approach. Seven publicly traded hotel companies experienced steep declines in earnings and stock price during the SARS outbreak period. On and after the day of the SARS outbreak, Taiwanese hotel stocks showed significantly negative cumulative mean abnormal returns, indicating a significant impact of the SARS outbreak on hotel stock performance. Empirical findings could be used to prepare businesses for the similar epidemics, such as a deadly bird-flu epidemic.</p></div></front><back><div1 type="bibliography"><listBibl><biblStruct><analytic><author><name sortKey="Akgiray, V" uniqKey="Akgiray V">V. Akgiray</name></author></analytic></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct><analytic><author><name sortKey="Bera, A" uniqKey="Bera A">A. Bera</name></author><author><name sortKey="Bubnys, E" uniqKey="Bubnys E">E. Bubnys</name></author><author><name sortKey="Park, H" uniqKey="Park H">H. Park</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Bollerslev, T" uniqKey="Bollerslev T">T. Bollerslev</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Campbell, J Y" uniqKey="Campbell J">J.Y. Campbell</name></author><author><name sortKey="Lo, A W" uniqKey="Lo A">A.W. Lo</name></author><author><name sortKey="Mackinlay, A C" uniqKey="Mackinlay A">A.C. MacKinlay</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Chen, D H" uniqKey="Chen D">D.H. Chen</name></author><author><name sortKey="Bin, F S" uniqKey="Bin F">F.S. Bin</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Chien, G C L" uniqKey="Chien G">G.C.L. Chien</name></author><author><name sortKey="Law, R" uniqKey="Law R">R. Law</name></author></analytic></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct><analytic><author><name sortKey="Corhay, A" uniqKey="Corhay A">A. Corhay</name></author><author><name sortKey="Tourani Rad, A" uniqKey="Tourani Rad A">A. Tourani Rad</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Diebold, F X" uniqKey="Diebold F">F.X. Diebold</name></author><author><name sortKey="Im, J" uniqKey="Im J">J. Im</name></author><author><name sortKey="Lee, J" uniqKey="Lee J">J. Lee</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Dodd, P" uniqKey="Dodd P">P. Dodd</name></author><author><name sortKey="Warner, J B" uniqKey="Warner J">J.B. Warner</name></author></analytic></biblStruct><biblStruct></biblStruct><biblStruct><analytic><author><name sortKey="Engle, R F" uniqKey="Engle R">R.F. Engle</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Engle, R F" uniqKey="Engle R">R.F. Engle</name></author><author><name sortKey="Ng, V K" uniqKey="Ng V">V.K. Ng</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Giaccoto, C" uniqKey="Giaccoto C">C. Giaccoto</name></author><author><name sortKey="Ali, M M" uniqKey="Ali M">M.M. Ali</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Glosten, L G" uniqKey="Glosten L">L.G. Glosten</name></author><author><name sortKey="Jagannathan, R" uniqKey="Jagannathan R">R. Jagannathan</name></author><author><name sortKey="Runkle, D E" uniqKey="Runkle D">D.E. Runkle</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Judge, G G" uniqKey="Judge G">G.G. Judge</name></author><author><name sortKey="Griffiths, W E" uniqKey="Griffiths W">W.E. Griffiths</name></author><author><name sortKey="Hill, R C" uniqKey="Hill R">R.C. Hill</name></author><author><name sortKey="Lutkepohl, H" uniqKey="Lutkepohl H">H. Lutkepohl</name></author><author><name sortKey="Lee, T C" uniqKey="Lee T">T.C. Lee</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Mckercher, B" uniqKey="Mckercher B">B. McKercher</name></author><author><name sortKey="Chon, K" uniqKey="Chon K">K. Chon</name></author></analytic></biblStruct><biblStruct></biblStruct><biblStruct><analytic><author><name sortKey="Nelson, D B" uniqKey="Nelson D">D.B. Nelson</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Nicolau, J L" uniqKey="Nicolau J">J.L. Nicolau</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Pine, P" uniqKey="Pine P">P. Pine</name></author><author><name sortKey="Mckercher, B" uniqKey="Mckercher B">B. McKercher</name></author></analytic></biblStruct><biblStruct><analytic><author><name sortKey="Schwarz, G" uniqKey="Schwarz G">G. Schwarz</name></author></analytic></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct><biblStruct></biblStruct></listBibl></div1></back></TEI><affiliations><list><country><li>République populaire de Chine</li><li>États-Unis</li></country><region><li>Indiana</li><li>Oklahoma</li></region></list><tree><country name="République populaire de Chine"><noRegion><name sortKey="Chen, Ming Hsiang" sort="Chen, Ming Hsiang" uniqKey="Chen M" first="Ming-Hsiang" last="Chen">Ming-Hsiang Chen</name></noRegion></country><country name="États-Unis"><region name="Indiana"><name sortKey="Jang, Soocheong Shawn" sort="Jang, Soocheong Shawn" uniqKey="Jang S" first="Soocheong Shawn" last="Jang">Soocheong Shawn Jang</name></region><name sortKey="Kim, Woo Gon" sort="Kim, Woo Gon" uniqKey="Kim W" first="Woo Gon" last="Kim">Woo Gon Kim</name></country></tree></affiliations></record>Pour manipuler ce document sous Unix (Dilib)
EXPLOR_STEP=$WICRI_ROOT/Sante/explor/SrasV1/Data/Main/Exploration
HfdSelect -h $EXPLOR_STEP/biblio.hfd -nk 003C62 | SxmlIndent | more
Ou
HfdSelect -h $EXPLOR_AREA/Data/Main/Exploration/biblio.hfd -nk 003C62 | SxmlIndent | more
Pour mettre un lien sur cette page dans le réseau Wicri
{{Explor lien
|wiki= Sante
|area= SrasV1
|flux= Main
|étape= Exploration
|type= RBID
|clé= PMC:7116915
|texte= The impact of the SARS outbreak on Taiwanese hotel stock performance: An event-study approach
}}
Pour générer des pages wiki
HfdIndexSelect -h $EXPLOR_AREA/Data/Main/Exploration/RBID.i -Sk "pubmed:NONE" \
| HfdSelect -Kh $EXPLOR_AREA/Data/Main/Exploration/biblio.hfd \
| NlmPubMed2Wicri -a SrasV1
| This area was generated with Dilib version V0.6.33. |  |