Article ; Online: Self-restraint, subsidy, and stock market reactions to the coronavirus outbreak: Evidence from the Japanese restaurant industry.
2022 Volume 17, Issue 12, Page(s) e0278876
Abstract: This study examined the stock market response of the Japanese restaurant industry to the announcement of the self-restraint request and subsidy for restaurants by the Japanese government during the coronavirus outbreak. Using the event study approach, it ...
Abstract | This study examined the stock market response of the Japanese restaurant industry to the announcement of the self-restraint request and subsidy for restaurants by the Japanese government during the coronavirus outbreak. Using the event study approach, it was found that the market reacted negatively to the self-restraint request and positively to the subsidy for restaurants. Following the announcement of the self-restraint request, investors in the restaurant industry responded positively to the government's stringent policy responses. Conversely, following the announcement on the "dining-out" subsidy, investors reacted negatively to the stringent government policies. Our findings provide useful information for policy makers and practitioners to mitigate losses in the hospitality industry during the pandemic. |
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MeSH term(s) | Humans ; Restaurants ; Coronavirus ; East Asian People ; Coronavirus Infections/epidemiology ; Disease Outbreaks |
Language | English |
Publishing date | 2022-12-14 |
Publishing country | United States |
Document type | Journal Article |
ZDB-ID | 2267670-3 |
ISSN | 1932-6203 ; 1932-6203 |
ISSN (online) | 1932-6203 |
ISSN | 1932-6203 |
DOI | 10.1371/journal.pone.0278876 |
Database | MEDical Literature Analysis and Retrieval System OnLINE |
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