Foreign Exchange Speculation: An Event Study

Hayward, Robert

doi:10.3390/ijfs6010022

Cited by 15 publications

(8 citation statements)

References 51 publications

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“…The paper mainly draws from event study methodology and secondary survey data obtained from the cruise review site, Cruise Critic, and from CLIA Qualtrics Surveys. Event study methodology has its origins in finance, particularly the analysis of stocks and foreign exchange (Hayward, 2018). An event study examines the impact of an event on the financial performance of a company or stock market.…”

Section: Materials and Research Methodsmentioning

confidence: 99%

COVID-19 and the global cruise ship industry: potential recovery and reformation pathways

Chikodzi

Nhamo²,

Dube³

2022

BGSS

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The cruise ship industry was one of the fastest growing subsectors of the tourism industry before the advent of COVID-19. This paper examines the prospects and recovery of the cruise ship industry from the devastating impacts of COVID-19 on the industry. The study relied mostly on event study and secondary data, including survey data from authoritative sources, data from representative organisations, news reports and academic literature. The results show that the industry exhibited high levels of customer loyalty and resilience to the COVID-19-induced downturn. The industry also adopted additional protocols to improve public health on board and protect the health and safety of customers, crews and visited communities. However, continued travel restrictions at both source and destination markets, as well as the continued resurgence of the virus and related uncertainties, threaten the recovery of the industry. Mandatory vaccination of both crew and passengers needs to be considered.

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Section: Materials and Research Methodsmentioning

confidence: 99%

COVID-19 and the global cruise ship industry: potential recovery and reformation pathways

Chikodzi

Nhamo²,

Dube³

2022

BGSS

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“…To this end, the chapters dealing with hotel stocks and shares benefited most, although elements of the methodology were also applied in other chapters as was deemed appropriate. The events studies method has its roots in finance, particularly the analysis of stocks and foreign exchange (Hayward 2018). However, over time the methodology has been applied in other disciplines (Giorgino et al 2017).…”

Section: Methodology: Theories and Methods Utilisedmentioning

confidence: 99%

The Context: COVID-19, Global Development Agendas and Tourism

Nhamo

Dube

Chikodzi

2020

Counting the Cost of COVID-19 on the Global Tourism Industry

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This chapter provides the context in which the book "Counting the Cost of COVID-19 on Global Tourism Industry" is written, including highlights for what follows in the rest of the book. The COVID-19 pandemic came when the world was in the midst of entertaining major global development agendas that had implications on the global tourism value chains. Among such major global development agendas, one could list the 2030 Agenda for Sustainable Development and its aligned 17 Sustainable Development Goals (SDGs), the Paris Agreement, the Sendai Framework and Habitat III's New Urban Agenda. The pandemic also steered geopolitical and global economic tensions as key players, including individuals and countries, demanded answers as to what led to such a wild and unstoppable spread of the coronavirus. Accusations of maladministration within the World Health Organization (WHO) and connivance with China emerged. Many countries battled to "flatten" the runaway COVID-19 and economic curves. Many countries and territories went on lockdown, with millions infected and hundreds of thousands dead by the time this book was going into production. Global economic stimulus packages were urgently instituted, and the tourism sector was among the top beneficiaries of such packages. The chapter also presents sections on the importance of the tourism sector to the global economy and how past pandemics affected the sector. It further highlights the overall methodological framework used for data generation and analysis.

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“…The interest rate spread between the US and the rest of the world is also used to capture short-term interest rate flows such as the carrytrade. Additional information about the measurement of speculative flows is available in (Hayward 2018).…”

Section: The Datamentioning

confidence: 99%

International Capital Flows and Speculation

Hayward

Gregoriou

2021

JRFM

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In response to questions about the relative importance of different types of capital flow for international competitiveness, we develop a structural vector auto-regressive model of the real exchange rate and international capital flows. We reveal that innovations to speculative sentiment cause changes in competitiveness. We report that speculation replaces the effect of equity, bond and most of the interest rate effect. The results show that international speculative sentiment is an important contributor to exchange rate and that monetary and regulatory authorities should find ways of measuring and understanding banking and financial flows.

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Foreign Exchange Speculation: An Event Study

Cited by 15 publications

References 51 publications

COVID-19 and the global cruise ship industry: potential recovery and reformation pathways

COVID-19 and the global cruise ship industry: potential recovery and reformation pathways

The Context: COVID-19, Global Development Agendas and Tourism

International Capital Flows and Speculation

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