Impact of terrorism on hospitality stocks and the role of investor sentiment

Cornell Hospitality Quarterly

Volumn 52, Issue 2, 2011, Pages 165-175

  Chang, Charles ^a   Zeng, Ying Ying ^b  

^a Shanghai Advanced Institute of Finance ^*  (China)

^b Prudential Real Estate and a graduate of the Cornell Hotel School   (United States)

Author keywords

hospitality stock returns; investor sentiment; terrorism

Indexed keywords

EID: 79955116852     PISSN: 19389655     EISSN: None     Source Type: Journal    
DOI: 10.1177/1938965510392915     Document Type: Article

References (16)

1. Abadie, Alberto, and Javier Gardeazabal. 2001. The economic costs of conflict: A case-control study for the Basque Country. Harvard University Faculty Research Working Papers Series, Cambridge, MA.
2. Albright, Madeleine. Address at Ramstein Airforce Base, Kaiserslautern, Germany, August 13, 1998. www.worldquotes.org/2606/madeleine-albright/.
3. Barbanel, Laura, Patrick H. DeLeon, and Ronald F. Levant. 2003. International terrorism and terrorists: Psychosocial perspectives. Proceedings of the American Psychological Association. Washington, DC: American Psychological Association.
4. Blomberg, S. Brock, Gregory D. Hess, and Athanasios Orphanides. 2004. The macroeconomic consequences of terrorism. Journal of Monetary Economics 51 (5): 1007-32.
5. Burch, Timothy, Douglas Emery, and Michael Fuerst. 2003. What can "Nine-Eleven" tell us about closed-end fund discounts and investor sentiment? The Financial Review 38: 515-29.
6. Carter, David A., and Betty J. Simkins. 2004. The market's reaction to unexpected, catastrophic events: The case of airline stock returns and the September 11th attacks. Quarterly Review of Economics & Finance 44 (4): 539-58.
7. Chen, Andrew H., and Thomas F. Siems. 2004. The effects of terrorism on global capital markets. European Journal of Political Economy 20 (2): 349-66.
8. Drakos, Konstantinos. 2004. Terrorism-induced structural shifts in financial risk: Airline stocks in the aftermath of the September 11th terror attacks. European Journal of Political Economy 20 (2): 435-46.
9. Eldor, Rafi, and Rafi Melnick. 2004. Financial markets and terrorism. European Journal of Political Economy 20 (2): 367-86.
10. Frey, Bruno S., Simon Luechinger, and Alois Stutzer. 2007. Calculating tragedy: Assessing the costs of terrorism. Journal of Economic Surveys 21 (1): 1-24.
11. Greenbaum, Robert T., and Andy Hultquist. 2006. The economic impact of terrorist incidents on the Italian hospitality industry. Urban Affairs Review 42 (1): 113-30.
12. Gupta, Sanjeev, Benedict Clements, Rina Bhattacharya, and Shamit Chakravarti. 2004. Fiscal consequences of armed conflict and terrorism in low- and middle-income countries. European Journal of Political Economy 20 (2): 403-21.
13. Jegadeesh, Narasimhan, and Sheridan Titman. 1993. Returns to buying winners and selling losers: Implications for stock market efficiency. Journal of Finance 48 (1): 65-91.
14. Karolyi, G. Andrew, and Rodolfo Martell. 2005. Terrorism and the stock market. Ohio State University Working Paper Series, Columbus.
15. LaFree, Gary, Laura Dugan, Heather V. Fogg, and Jeffrey Scott. 2006. Building a global terrorism database. Working Paper, University of Maryland, College Park.
16. Lo, Wen-Chen, and Ku-Jun Lin. 2005. A review of the effects of investor sentiment on financial markets: Implications for investors. International Journal of Management 22 (4): 708-15.