The effect of Airbnb announcements on hotel stock prices

The sharing economy model that was developed in the last decade has a major effect on a different aspect of life. The purpose of this research is to test the effect of a sharing economy product on its competitors. Specifically, this study used the event study approach to examine how Airbnb announcements affected hotel stock prices. To accomplish this goal, we used 180 Airbnb announcements to investigate the general effect of Airbnb, and the effects according to the type of announcement and the type of audience. The findings indicate that general Airbnb announcements have a negative effect on the hotel stock prices. In addition, investors respond negatively to positive announcements but not to neutral ones. Finally, announcements targeting young people have no effect on the stock prices of hotel companies, while the effect of announcements targeting families lasts the longest. We also explored investment strategies for general investors and those with inside information. We suggest that general investors short sell the stock on the day of the news announcement. Investors with inside information should short sell the stock a few days before the day of the news announcement. In both cases, investors should close their positions a few days later depending on the type of announcement.     

Perceptions and experiences of career success among aspiring and early career accountants and the role of organisational support

Positive perceptions of career success are critical among accounting professionals, given their connection with performance, turnover and organisational commitment. Drawing on career stage theory, this study explores the perceptions and experiences of career success among 475 aspiring (Accounting/Finance students), 305 early career accountants (ECAs) and 165 managers/recruiters in Australia. Findings reflected both objective and subjective dimensions of career success alongside notable differences between aspiring accountants and ECAs, highlighting shifting views across the career stages of exploration and establishment. While ECAs were largely positive about their access to career success, managers/recruiters identified ways to create further opportunities for ECAs' career success.     

Learning from failure: A systematized review

International Journal of Technology and Design Education - Iteration and improvement are important attributes of design, tacitly indicating that failure is also a part of the process. There are...     

How Much Are Borrowers Willing to Pay to Remove Uncertainty Surrounding Mortgage Defaults?

The Journal of Real Estate Finance and Economics - Using a large, non-student sample, we assess and differentiate between borrowers’ Risk Aversion and Ambiguity Aversion levels and their...