Stock markets’ reaction to COVID-19, US lockdown and waves: the case of fast food and food delivery industry

Detalhes bibliográficos
Autor(a) principal: Martins, António
Data de Publicação: 2021
Outros Autores: Cró, Susana
Tipo de documento: Artigo
Idioma: por
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10174/34318
Resumo: This 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-consumption of online experiences tends to explain the positive stock market reaction. These reactions are reinforced or mitigated by firm-specific characteristics such as liquidity, profitability, leverage, institutional ownership, and degree of internationalization.
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spelling Stock markets’ reaction to COVID-19, US lockdown and waves: the case of fast food and food delivery industrycovid-19stock marketThis 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-consumption of online experiences tends to explain the positive stock market reaction. These reactions are reinforced or mitigated by firm-specific characteristics such as liquidity, profitability, leverage, institutional ownership, and degree of internationalization.Current Issues in Tourism2023-02-14T11:55:41Z2023-02-142021-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10174/34318http://hdl.handle.net/10174/34318porhttps://pesquisa.bvsalud.org/global-literature-on-novel-coronavirus-2019-ncov/resource/pt/covidwho-1404925antonio.martins@staff.uma.ptsrgcro@uevora.pt746Martins, AntónioCró, Susanainfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-03T19:31:20Zoai:dspace.uevora.pt:10174/34318Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:20:42.183697Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Stock markets’ reaction to COVID-19, US lockdown and waves: the case of fast food and food delivery industry
title Stock markets’ reaction to COVID-19, US lockdown and waves: the case of fast food and food delivery industry
spellingShingle Stock markets’ reaction to COVID-19, US lockdown and waves: the case of fast food and food delivery industry
Martins, António
covid-19
stock market
title_short Stock markets’ reaction to COVID-19, US lockdown and waves: the case of fast food and food delivery industry
title_full Stock markets’ reaction to COVID-19, US lockdown and waves: the case of fast food and food delivery industry
title_fullStr Stock markets’ reaction to COVID-19, US lockdown and waves: the case of fast food and food delivery industry
title_full_unstemmed Stock markets’ reaction to COVID-19, US lockdown and waves: the case of fast food and food delivery industry
title_sort Stock markets’ reaction to COVID-19, US lockdown and waves: the case of fast food and food delivery industry
author Martins, António
author_facet Martins, António
Cró, Susana
author_role author
author2 Cró, Susana
author2_role author
dc.contributor.author.fl_str_mv Martins, António
Cró, Susana
dc.subject.por.fl_str_mv covid-19
stock market
topic covid-19
stock market
description This 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-consumption of online experiences tends to explain the positive stock market reaction. These reactions are reinforced or mitigated by firm-specific characteristics such as liquidity, profitability, leverage, institutional ownership, and degree of internationalization.
publishDate 2021
dc.date.none.fl_str_mv 2021-01-01T00:00:00Z
2023-02-14T11:55:41Z
2023-02-14
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10174/34318
http://hdl.handle.net/10174/34318
url http://hdl.handle.net/10174/34318
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://pesquisa.bvsalud.org/global-literature-on-novel-coronavirus-2019-ncov/resource/pt/covidwho-1404925
antonio.martins@staff.uma.pt
srgcro@uevora.pt
746
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Current Issues in Tourism
publisher.none.fl_str_mv Current Issues in Tourism
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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