This study investigates the effects of changes in monetary policy on the stock performance of hospitality firms (airlines, hotels, restaurants and tourism firms) in Hong Kong. Changes in the monetary policy environment are measured by changes in the discount rate. Among the four hospitality...

Although tourism expansion is theoretically assumed to have a direct influence on the tourism industry, previous studies have not found any significant connection between tourism expansion and tourism firms’ stock performance. This study argues that tourism expansion would have a more direct...