Lockdown, unlock, stock returns, and firm-specific characteristics: the Indian tourism sector during the Covid-19 outbreak

Dharen Pandey and Rahul Kumar

Current Issues in Tourism, 2022, vol. 25, issue 7, 1026-1032

Abstract: Using the event study methodology, we find that the stock returns of the Indian tourism sector reacted differently to the announcements of nationwide lockdown and the Unlock 1.0. Using the cross-sectional regression, we find liquidity, volatility, solvency, and size as the primary drivers of CARs during the event windows. The findings will empower the decision-making abilities of the investors and firm managers.

Date: 2022
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DOI: 10.1080/13683500.2021.2005549

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