Effects of epidemic disease outbreaks on financial performance of restaurants: Event study method approach
| Autor: | Jewoo Kim, Jaewook Kim, Seul Ki Lee, Liang (Rebecca) Tang |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
Financial performance
media_common.quotation_subject 05 social sciences Event study Outbreak Tourism Leisure and Hospitality Management Service (economics) 0502 economics and business 050211 marketing Epidemic disease Business Marketing 050212 sport leisure & tourism media_common Restaurant industry |
| Zdroj: | Journal of Hospitality and Tourism Management. 43:32-41 |
| ISSN: | 1447-6770 |
| DOI: | 10.1016/j.jhtm.2020.01.015 |
| Popis: | The present study aims to investigate the influence of macroscopic and infectious epidemic disease outbreaks on financial performance of the restaurant industry. Nine events on four epidemic disease outbreaks during 2004–2016 were analyzed. Event study method and Mann-Whitney U test were used to estimate the effect of three firm characteristics (brand reliability, advertising effects, and service types) on firms’ value. This study confirmed the negative influence of epidemic disease outbreaks on the restaurant industry, and identified all the three firm characteristics serve as risk mitigating factors. This research contributes to the research body on the effects of epidemic disease outbreaks on the restaurant industry and assists practitioners in designing effective strategies to stabilize financial performance during unpredictable events. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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