The Economics of the Egyptian Stock Market and the Financing of Tourism and Hospitality Projects: A Comparative Study of some Arab Stock Markets | ||||
| International Journal of Heritage, Tourism and Hospitality | ||||
| Article 7, Volume 13, Issue 1, March 2019, Page 96-113 PDF (995.27 K) | ||||
| Document Type: Original Article | ||||
| DOI: 10.21608/ijhth.2019.35107 | ||||
 View on SCiNiTO | ||||
| Authors | ||||
| Sayed Elgarhy; Mohamed Abou-Shouk; Hanaa Fayed | ||||
| Abstract | ||||
| Stock Markets are an important part of the economics of the Arabian countries. Securities traded on a stock exchange include stock issued by listed firms and bonds. The current study aims to investigate the effect of Stock Split on Market Capitalization and Market Value in Hospitality and Tourism in three Bourses. For the purpose of the study, determinations of whether Stock Split made by Hospitality and Tourism Sector Index’s firms on the Egyptian Exchange, Saudi Arabian Stock Exchange and Bahrain Bourse have an effect on the splitting firms. The study uses historical quantitative data during the period (2010:2018) collected from (ASMs). Based on linear regression analysis, the findings in Travel and Leisure Index in The Egyptian Exchange indicated that there is a significant positive relationship effect of Stock Split on Market Capitalization, Market Value, and Market Value on Market Capitalization. Furthermore, the results showed that in Tourism and Hotels index in Saudi Arabian Stock Exchange there is a significant positive relationship effect of Stock Split on Market Capitalization, Market Value, and Market Value on Market Capitalization. In addition, the results showed that in Hotels and Tourism in Bahrain Bourse there is a significant positive relationship between of Stock Split on Market Capitalization, Market Value, and Market Value on Market Capitalization. The results also revealed that Stock Split on Market Capitalization, Market Value, and Market Value on Market Capitalization was considered the most criterion validity in the three Bourses. | ||||
| Keywords | ||||
| Arabian Stock Markets (ASMs); Travel & Leisure Sector Index; Finance; investment; Hospitality & Tourism Projects; Stock Split; Market value; Market Capitalization | ||||
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