COVID‑19 and tourism sector stock price in Spain: medium‑term relationship through dynamic regression models
Fecha
2023-01-06
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Editor
Springer
Resumen
The global pandemic, coronavirus disease 2019 (COVID-19), has significantly affected
tourism, especially in Spain, as it was among the first countries to be affected by the
pandemic and is among the world’s biggest tourist destinations. Stock market values
are responding to the evolution of the pandemic, especially in the case of tourist companies.
Therefore, being able to quantify this relationship allows us to predict the effect
of the pandemic on shares in the tourism sector, thereby improving the response to
the crisis by policymakers and investors. Accordingly, a dynamic regression model was
developed to predict the behavior of shares in the Spanish tourism sector according to
the evolution of the COVID-19 pandemic in the medium term. It has been confirmed
that both the number of deaths and cases are good predictors of abnormal stock
prices in the tourism sector.
Descripción
Palabras clave
COVID-19, Stock exchange, Tourism stock, Dynamic regression models, Spain
Citación
Carrillo-Hidalgo, I., Pulido-Fernández, J.I., Durán-Román, J.L. et al. COVID-19 and tourism sector stock price in Spain: medium-term relationship through dynamic regression models. Financ Innov 9, 8 (2023).