Martins, António Miguel; Correia, Pedro Álvaro Pereira; … - In: Journal of applied economics 26 (2023) 1, pp. 1-22
This paper examines the short-term market reaction of European tourism and hospitality industry to the beginning of the military conflict between Russia and Ukraine (24 February 2022). Using an event study, for a sample of 165 listed firms, we observe a negative and statistically significant...