By means of an event study of stock market reactions to the announcement of the Olympic Games host cities, we find a significant and positive announcement effect of hosting the Summer Games, with a cumulative abnormal return of about 2% within a few days. We do not find any significant results...

This paper assesses the effects of domestic football teams' performances against foreign rivals on stock market returns as well as on the return-volatility relationship. The data from Chile, Spain, Turkey and the United Kingdom support the propositions that the results of football teams in...

This study applies meta-regression analysis to aggregate a sample of 1,126 empirical estimates of the stock market reaction to soccer matches collected from 37 primary studies. Our results indicate that winning a match is not associated with significant return effects for both national teams and...

Hotel industry is an important component of travel and tourism (T&T) sector. However, less studies are dedicated to hotel industry than to the T&T sector as a hole. Even less studies are available on hotel companies or groups listed on stock exchanges around the world. The present study will...

Using 43 European countries over the period 1994-2019, we demonstrate that demand side wealth effect as inferred from the Morgan Stanley Capital International (MSCI) indexes is an important determinant of inbound tourism. We find that a good financial mood as inferred from a bullish wealth...

Due to the behaviour of financial sector indicators since the emergence of the COVID-19 pandemic, several empirical studies have been conducted to examine the response of stock market returns to COVID-19 pandemic. This study contributes to the extant studies by examining the effects of COVID-19...

We examine the impact of stock market wealth and business cycles on gambling. Rising stock market wealth is expected to increase expenditures on entertainment goods, including gambling. Conversely, rising volatility is expected to draw betting outlays to the stock markets. Gambling is also...