The effect of the 2018 Giro d’Italia on Israel’s tourism firm value
-
-
[1] Virginia Tech - Wake Forest University
Virginia Tech - Wake Forest University
Estados Unidos
-
[2] Radford University
Radford University
Estados Unidos
-
- Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 25, Nº. 7, 2019, págs. 1070-1083
- Idioma: inglés
- Texto completo no disponible (Saber más ...)
-
Resumen
On September 18, 2017, the organizers of the 2018 Giro d’Italia announced that for the first timein its history, this world famous event would begin outside of Europe—in Israel. This articlecontributes to the literature by taking advantage of this unique opportunity of analysis; in partic-ular, it tests the effect that this announcement had upon Israeli tourism companies’ market value.The results show that on the very same day the announcement was made, there was an incrementin the firm value of these companies. We propose a conceptual model and argue that the hypegenerated helps enhance the country’s image, leading to higher expectations of incoming tourism.This article presents a contribution to the growing evidence regarding the impact of suchannouncements upon actual market value of tourism companies.
