This paper is an event study analysis of the reaction of daily U.S. hospitality stock prices to announcements of Federal Open Market Committee decisions concerning the federal funds target rate (FFTR). The study first identifies two components of changes in the FFTR, namely the expected and the...

This paper attempts to explore how the Taiwan government can effectively use subsidies to retire aquacultural farms based on the externality ground subsidence from pumping groundwater, using the town of Budai in Chia-Yi county as an example. The research first constructs the relationship between...

This study examines the performance of mutual funds under different Central Bank of China monetary policy environments in the emerging Taiwan market. To measure monetary policy changes effectively, we exploit changes in the discount rate and further categorize the monetary environment as either...

Shadow prices indicate implicit values of limited resources at the margin and provide important information in decision making for resource management. In continuous economic models, shadow prices associated with demand-supply balance constraints represent consumers' willingness to pay and...

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...