13 documents found, page 1 of 2
Stock market effects of CrowdStrike IT outage on largest listed hotel companies
Albuquerque, Bruno; Cró, Susana; Moutinho, Nuno; Martins, António MiguelThis study analyses the short-term market effect of CrowdStrike IT outage in the 100 largest worldwide listed hotel companies. Using an event study methodology, the paper analyses how hotel companies are penalized by the market to the biggest IT disruption in history. Our results evidence a statistically significant negative reaction around the event date. This result is explained by the adverse impact caused b...
Airline stock market reaction to CrowdStrike IT outage: an event study analysis
Costa, João; Cró, Susana; Moutinho, Nuno; Martins, António MiguelThis study investigates the short-term market effect of CrowdStrike IT outage in the airline industry. Using an event study methodology, we evidence that airline stocks respond significantly negatively to the technology disruption within two days before and after the event day. IT disruptions, by creating friction in daily operations, such as broken schedules, delayed or cancelled flights, negative externalitie...
Tourism activity affects house price dynamics? Evidence for countries dependent...
Cró, Susana; Martins, António Miguel; Martins, AntónioThis study analyses the impact of tourism in house prices in eight tourism dependent countries in terms of exports for the period from 2000 to 2018. We employ a Vector-Error Correction Model (VECM) for the empirical estimation given that house prices, tourism activity and other determinants are cointegrated. The results indicate that tourism has a significant positive impact on house prices both in the short-ru...
Stock markets’ reaction to COVID-19, US lockdown and waves: the case of fast fo...
Martins, António; Cró, SusanaThis paper examines the short-term market reaction of large fast food and food delivery companies to the arrival of the COVID-19 pandemic, US lockdown, and contagion waves. Using an event study, we show that stocks react significantly negatively to the declaration of COVID-19 as a global pandemic but react positively to US lockdown and contagion waves. The change in consumers’ buying behaviour with over-consump...
Panel Analysis of FDI Determinants in Tourism Industry Revisited - New Evidence...
Martins, António; Cró, SusanaThis chapter examines the determinants of Foreign Direct Investment (FDI) inflows in the French hospitality industry, updating estimates made in a previous study. Using a panel gravity model, we investigate the bilateral FDI stock inflows between France and 19 investor countries in the Hotels and Restaurant industry over 2000–2019. Our results show that bilateral FDI stock inflows between France and investor co...
Online customer reviews about security and its impact on hostel prices: the imp...
Cró, Susana; Martins, António; Simões, José; Calisto, MariaBased on a sample of consumer reviews of 637 hostels in 28 cities worldwide, with different levels of respect of human rights, we test if the security attribute has an impact on the price, depending on the level of respect for human rights. We chose a sample of countries with different levels of fulfilment of human rights by the fact that previous studies show that human rights violation has far more severe imp...
The role of promotion expenditures, direct flights and climate in island destin...
Cró, Susana; Correia, Pedro; Martins, AntónioThe purpose of this study is to investigate the importance of promotion expenditures, direct flights, and climate, among other variables commonly used in gravity models, in the attractiveness of international tourists to an insular destination, in this particular case, Madeira. These three variables are rarely present in gravity models that analyse international demand. Given the possibility of endogeneity, a d...
The Impact of Tourism on Solid Waste Generation and Management Cost in Madeira ...
Martins, António; Cró, SusanaThe tourism sector in Madeira represents 26.6% of the regional GDP and 16.7% of employment in the region. However, the sector is a source of adverse environmental impacts. One of the environmental repercussions of tourism, regarded as an externality, is the generation of solid waste. This paper aims to estimate the impact of tourist activities on solid waste generation in Madeira for the period 1996–2018. We us...
Hotel and hostel location in Lisbon: Looking for Their Determinants
Cró, Susana; Martins, AntónioTo understand the potential factors contributing to the choice of location for hotels and hostels in Lisbon, Portugal, we use a logit model incorporating both lodging and location characteristics. Based on a sample of 274 hotels and hostels, we seek (i) to investigate if location strategies and decisions are influenced by lodging characteristics; and (ii) extend the set of factors that influence the spatial pat...
Safety and security perception as strategic issues for hospitality companies
Cró, Susana; Calisto, Maria de Lurdes; Martins, António Miguel; Simões, José ManuelSafety, tranquility, and peace are a necessary condition for prosperous tourism, and security has been identified as one of the five global forces that will drive the tourism industry in the new millennium. Numerous studies have demonstrated that tourism destinations are heavily affected by security perceptions and safety and risk management. In this chapter, the reader may learn about the theoretical models an...