Demir, Ender; Kizys, Renatas; Rouatbi, Wael; Zaremba, Adam - In: Journal of risk and financial management : JRFM 15 (2022) 4, pp. 1-21
This paper examines the impact of vaccination programs on the stock market volatility of the travel and leisure sector … decrease in the investment risk of travel and leisure companies. Vaccination results in a decrease in the volatility of stock … prices of travel and leisure companies. The drop in volatility is robust to many alternative estimation techniques, different …