摘要
新冠肺炎疫情的暴发对证券市场造成巨大冲击。以沪深证券交易所上市的165家文旅企业为研究样本,采用“事件研究法”对上市公司股票在新冠肺炎疫情冲击下所受影响进行分析。研究发现:新冠肺炎疫情在总体上给中国文旅产业上市公司股票造成负向异常收益,对文旅产业影响较为严重,在短时间内交通运输业、住宿餐饮业、文化体育及娱乐业均在不同程度上遭遇重挫。从时间走向看,中国文旅产业异常收益呈现“先抑后扬”的“V”型波动性趋势,完全摆脱疫情影响、提升文旅产业韧性任重而道远。文旅产业在新冠疫情流行期后高质量发展将是一个持续、系统的提升过程,需要从政策制定、旅游企业战略角度进行响应。
The outbreak of COVID-19 has had a huge impact on the national and even international securities markets,and has also fully exposed the vulnerability of the cultural and tourism industry itself.Taking 165 cultural and tourism companies listed on the Shanghai and Shenzhen Stock Exchanges as research samples,this paper uses the“event study method”to analyze the impact of listed companies’stocks under the impact of the COVID-19.The study shows that the COVID-19 epidemic has generally brought negative and abnormal returns to the stocks of listed companies in China’s cultural tourism industry,and has a serious and rapid impact on the cultural tourism industry.In a short period of time,the transportation industry,accommodation and catering industry,culture,sports and entertainment industries have all suffered heavy losses to varying degrees.From the perspective of time trend,the abnormal income of China’s cultural and tourism industry shows a“V”volatility trend of“suppressing first and then rising later”.It is a long way to go to completely get rid of the impact of the epidemic and improve the resilience of the cultural and tourism industry.Therefore,the high-quality development of the cultural and tourism industry under the background of the normal epidemic prevention and control will be a continuous and systematic improvement process,which needs to respond from the perspective of policy formulation and tourism enterprise strategy.
作者
于登玺
常改欣
穆显鑫
谢名一
YU Deng-xi;CHANG Gai-xin;MU Xian-xin;XIE Ming-yi(School of Management,Liaoning University of International Business,Dalian 116052,Liaoning;Asia Australia Business College,Liaoning University,Shenyang 110036,Liaoning)
出处
《宝鸡文理学院学报（社会科学版）》
2023年第2期35-42,共8页
Journal of Baoji University of Arts and Sciences：Social Science Edition
基金
辽宁对外经贸学院校级课题:疫情常态化背景下旅游企业韧性发展路径研究(项目编号:2022XJLXYB11)。
关键词
新冠肺炎疫情
文旅产业
事件研究法
异常收益
COVID-19 outbreak
cultural and tourism industry
event study method
abnormal earning
