Yazar "Ampountolas, Apostolos" seçeneğine göre listele

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    Disruption in hospitality: Spillover effects of Airbnb's IPO on hotel and casino stocks
    (Elsevier Sci Ltd, 2026) Ampountolas, Apostolos; Saglam, Yagmur
    This study examines the spillover effects of Airbnb's initial public offering (IPO) on the stock performance of traditional hospitality firms, specifically hotel chains and casino operators. Using a Structural Vector Auto-Regression (SVAR) model, we analyze daily stock returns and closing prices from January 2021 to May 2023 to examine the interconnectedness between Airbnb and traditional hospitality stocks. Our findings reveal significant short-term spillover effects, with hotel stocks displaying greater sensitivity to Airbnb's performance than casino stocks. Variance decomposition and impulse-response functions highlight the temporary nature of these impacts, reflecting cyclical investor sentiment patterns that stabilize within a few periods. The study confirms Airbnb's disruptive influence on traditional hospitality markets while offering insights into established players' resilience and adaptive strategies. This research contributes to the literature on disruptive innovation and provides technical implications for managing market volatility and enhancing competitiveness in the hospitality industry.
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    The effects of shocks on Turkish tourism demand: Evidence using panel unit root test
    (Sage Publications Ltd, 2021) Saglam, Yagmur; Ampountolas, Apostolos
    This empirical study examines the stationarity of tourism demand in Turkey in response to the effects of structural breaks, which indicate external or internal shocks based on tourist arrivals from 12 Slavic-speaking countries between 2000 and 2016. We employed a panel unit root test based on the Flexible Fourier approach, which Karul enhanced to allow gradual shifts and a smooth transition process; structural break dates come from the Carrion-i-Silvestre unit root test framework. The empirical findings indicate that there are differences in the effects of these structural breaks across the 12 countries in question.