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Impact of the Russia–Ukraine war on hospitality equity markets
Journal article   Peer reviewed

Impact of the Russia–Ukraine war on hospitality equity markets

Faruk Balli, Mabruk Billah and Iftekhar Chowdhury
Tourism economics : the business and finance of tourism and recreation, p.135481662211334
19/10/2022

Abstract

return connectivity Russia–Ukraine war E34 G12 hospitality equity sectors/indices G14 TVP-VAR connectedness J15
This study explores the impact of the Russian–Ukraine war on the hospitality equity sector market for the selected 26 countries. It reveals a sharp spike in the return connectivity at the onset of the war. The return of the sector materializes more sensitivity when tourism demand from Russia and Ukraine is more extensive and when a country has a higher energy dependency on Russia. Overall results consistently stipulate the aspect of the efficient market hypothesis.

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