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This study aims to test the market anomaly of herding behavior driven by the response to supply chain disruptions in extreme market conditions such as those observed during COVID-19. The authors empirically test the response of the capital market participants for B2B firms, resulting in herding behavior.

Using the event study approach based on the market model, the authors test the impact of supply chain disruptions and resultant herding behavior across six sectors and among different B2B firms. The authors used cumulative average abnormal returns (CAAR) and cross-sectional absolute deviation (CSAD) to examine the significance of herding behavior across sectors.

The event study results show a significant effect of COVID-19 due to supply chain disruptions across specific sectors. Herding was detected across the automotive and pharmaceutical sectors. The authors also provide evidence of sector-specific disruption impact and herding behavior based on the black swan event and social learning theory.

The authors examine the impact of COVID-19 on herding in the stock market of an emerging economy due to extreme market conditions. This is one of the first studies analyzing lockdown-driven supply chain disruptions and subsequent sector-specific herding behavior. Investors and regulators should take sector-specific responses that are sophisticated during extreme market conditions, such as a pandemic, and update their responses as the situation unfolds.

The present study aims to comprehensively examine the impact of the Union Bank of Switzerland (UBS) takeover of Credit Suisse on the banking and financial services sector in the Indian stock market. To fully comprehend the impact of the event, the study separately investigates the response of private sector banks, public sector banks, overall banking companies and financial services companies to the takeover of the second-largest financial institution in Switzerland.

The study employs event study methodology, using the market model, to analyze the event's impact on Indian banking and financial services sector stocks. The data consists of daily closing prices of companies included in the Nifty Private Bank Index, Nifty PSU Bank Index, Nifty Bank Index and Nifty Financial Services Index from the National Stock Exchange (NSE). Furthermore, cross-sectional regression analysis has been conducted to explore the factors that drive abnormal returns.

The empirical findings of the study suggest the event had a heterogeneous impact on the stock prices of Indian banks and financial services companies. While public sector banks experienced a significant negative impact on select days within the event window, the overall Indian banking sector and financial services companies also witnessed notable declines. In contrast, Indian private sector banks were relatively resilient, exhibiting minimal effects. However, the cumulative effect is found to be insignificant for all four categories across different event windows. The study also observed that the cumulative abnormal returns (CARs) were significantly influenced by certain variables during different event windows.

To the best of the authors' knowledge, the present study is the earliest attempt that investigates the impact of the UBS takeover of Credit Suisse on the Indian banking and financial services sector using event study methodology and cross-sectional regression model.

Today, information systems and technology provides a wide set of tools for companies to increase the efficiency of their businesses. Although technology offers many benefits to businesses, it also brings risks as the information systems security breaches. Security breaches and their financial impact is a constant concern of the researchers and practitioners. This paper explores information systems breaches and their financial impacts on the publicly traded companies in different sectors.

After a comprehensive data collection process, data from 192 events are analyzed by employing Event Study Methodology and a comparison of the results between the four highly affected sectors (Consumer Goods, Technology, Financial and Communications) is presented. The abnormal returns on the prices of stocks after the events are calculated with the Market Model. Also, the results of the Market Adjusted Model and Mean Adjusted Model are presented to support the results.

While information systems security breaches have a significant negative impact on the Financials and the Technology sectors for all the event windows in the study ([−5, 0], [−5, 1], [−5, 5], and [−5, 10]), the significant negative impact is observed only on the [−5, 5] and [−5, 10] event windows for the Consumer Goods sector. No significant negative impact is observed in the Communications sector, in fact, the cumulative abnormal returns are positive for this sector.

The contribution of this paper to provide evidence about the financial impacts of the information systems breaches for businesses in different sectors. While there are studies that have previously focused on the information systems breaches and their financial impacts on businesses, to the best of our knowledge, this is the first study that compares this effect between the four highly impacted sectors. With a relatively larger sample size and broader event windows than the past studies in the literature, statistical evidence is provided to managers to justify their investments in information security and build preventive measures to secure the market value of their firms.

Over a short interval of time (i.e. 2011-2014), Egypt has experienced tectonic political shifts, including the toppling of a long-entrenched dictator, two presidential elections, and a military coup. The purpose of this paper is to provide an analysis of the impact of such events on the country’s equity market behaviour, both in terms of returns and volatility.

The data set is composed of daily stock index closing prices for the overall market and top eight most actively traded sectors. To assess the impact of the considered events on the market and sector returns, an event study approach is applied. On the other hand, a univariate VAR-EGARCH model is employed to explore whether, and to what extent, volatilities at the market and sector levels respond to such events.

The results suggest that political uncertainty has a profound impact on the risk-return profiles of almost all market sectors, with different degrees of intensity. By and large, the price and volatility effects are most pronounced in banks, financial services excluding banks and chemicals sectors, whilst food and beverages as well as construction and materials sectors are found to be the least responsive to these events. The 2013 military coup turns out to be the most pervasive event impinging on the market and sector-specific indices.

The results have a number of practical implications that could be of interest to many parties involved. More specifically, with political dysfunction overshadowing business and investment activities in Egypt, genuine democratic reforms, which entail proper regard for human rights and the rule of law, must have the highest priority of policymakers, in order to secure a positive investment climate and to foster investor confidence. Furthermore, in tandem with considering other relevant factors, multinational companies need to have a thorough assessment of Egypt’s future political course and to develop more robust contingency plans to effectively combat potential threats generated by political vicissitudes.

To the author’s best knowledge, this study is the first attempt to empirically examine the price and volatility effects of the recent presidential events in Egypt, thereby contributing to the relevant literature in this area.

This paper aims to examine event sponsorship decision making by the Indian drinks industry, comparing the non‐alcoholic and alcoholic drinks sectors.

Data regarding event sponsorship activity, perceptions of event sponsorship, motives to sponsor, form of investment and structure of sponsorship was obtained from a sample of 61 drinks producers in India through a questionnaire. Mann‐Whitney and logistic regression were employed to compare the alcoholic and the non‐alcoholic sectors.

The results suggest that the alcohol and non‐alcohol drinks sectors sponsored a similar level of events, but in investment volume terms, sponsorship from the non‐alcoholic sector is far greater than that of the alcoholic sector. While the two sectors are similar in many ways, the emphasis placed on certain motives for sponsoring events was different, with alcoholic drinks businesses placing greater importance on reaching niche audiences and increasing media coverage than non‐alcoholic ones.

A limited number of areas of the sponsorship decision‐making were covered, yet the study provides insights into the decision making of one of the key sponsoring industries: the drinks industry.

Securing sponsorship is becoming more difficult and complex. By understanding how sponsors make decisions, including potential variations between companies within an industry, event organisers will be in a better position to tailor sponsorship proposals, enhancing the likelihood of obtaining the desired sponsorship contracts.

Most sponsor decision‐making research focuses on how sponsorship decisions can be improved so that they work better for the sponsor. This paper, in contrast, emphasises that by understanding how clients make decisions (i.e. sponsors), sellers (i.e. the sponsored) will be in a better position to win over competition and secure the desired sponsorship deals.

The purpose of this paper is to examine the spending patterns of non‐local participants and spectators at a medium‐sized international sport event, to segment their spending patterns and consider implications for the quality of each segment's event experience.

Spending in nine sectors of the economy is measured via self‐report, and respondents are segmented into five groups: spectators, athletes, coaches, officials, and other participants (e.g. media, medical staff). The daily and aggregate spend for each segment in each economic sector is calculated and compared. Regression analysis tests differences among segments for each economic sector.

Participants account for 39 per cent of aggregate spend; coaches are the biggest spenders; athletes spend relatively little. The segments spend differently on hospitality, private transportation, grocery, and retail, with spectators spending significantly more than the participant groups on hospitality and private transportation, and significantly less on groceries and merchandise. Spending in sectors normally associated with celebration and festivity accounts for only 8 per cent of total spend.

Findings are derived from a single event, but are consistent with other work, suggesting that inadequate attention is given to opportunities for festive celebration, especially among athletes.

Coaches are a particularly useful target market for retailers, whereas hoteliers and service stations should target their marketing at spectators. Event organizers should do more to build festivals.

This paper identifies the ways that different segments organize their spending at an event, and demonstrates that greater attention to festivals could enhance a sport event's overall impact.

While sustainability issues in the tourism industry have been the subject of substantial research, such issues have not been well discussed in the field of events which is increasingly supporting tourism plans. The environmental sustainability of events in particular has not been thoroughly addressed, and sustainable tourism accreditation schemes have generally omitted events from their scope. Green Globe, an environmental accreditation scheme for tourism, suggests 25 different types of schemes to benchmark different sectors of the industry but fails to directly address events. This chapter evaluates the adaptability of Green Globe's environmental accreditation scheme to the event sector. Eight different indicators can be applied to special events. Six are suitable for events in their current state while two others require some adjustment.

Seeks to understand the inter‐organisational networks that influence events tourism strategy making by public‐sector event development agencies in Australia.

A qualitative methodology of convergent interviews, followed by multiple case research across six Australian states and territories, was employed. The inter‐organisational relationships and networks of events agencies that impact on their strategy processes for events tourism were the “cases” in focus.

Strategies of a reactive‐proactive nature mostly guide events tourism development by Australia's corporatised event development agencies. These agencies maintain “soft”, loosely formed networks that consist of relatively stable clusters of intra‐governmental and corporate membership with a peripheral, ad hoc membership of other stakeholders.

Although the paper studies perceptions of strategy making at a single point in time, it provides valuable insights into the public sector environment, institutional settings and key relationships that impact on events tourism strategies.

Event development agencies should consider how the unique requirements of event bidding, event development and expansion might facilitate different types of stakeholder engagement and network formation. Integration of regional, metropolitan and state strategies for events tourism may also widen the network of influence on strategies.

The paper informs public sector operatives establishing or managing event development agencies, where tourist generation is a primary marketing goal. It contributes new knowledge in a tourism field that is under‐researched.

Whilst the debate rages between progressive and destructive considerations of economic development, this paper aims to develop thinking around the sustainable event and its contribution to competitive advantage.

The paper defines the sustainable event and considers different position that might be adopted by private and public sector organisations when addressing the triple bottom line of sustainable development.

Cost leadership strategies are unlikely to work and the event organiser must address competitive advantage via differentiation and focus strategies.

Event managers must gain a better understanding of the motivations of their audience in relation to sustainability and work towards clearer means to demonstrate that their event meets these sustainable development needs.

The intention being that if event organisers can see a competitive advantage in the sustainable event, their contribution to sustainable development will be increased.

India is not geographically close to either Russia or Ukraine. However, India's trade relations with them make it vulnerable to the consequences of the war between these countries. Thus, the present study aims to examine the impact of the Russia–Ukraine war on various sectoral indices of the Indian economy.

Event study methodology has been used in this study for analysis. The date of the war announcement is the event day. The sample studied includes ten sectors of the Indian economy listed on the National Stock Exchange (NSE). Results correspond to the period of −167 days to +20 days of the announcement of the war, i.e. from June 25, 2021, to March 28, 2022.

Almost all the sample sectors earned significantly positive abnormal returns in the post-event period. The metal industry has led this group by showcasing the highest abnormal returns. Though Indian sectors made overall positive returns, the market soon corrected itself and abnormal returns were wiped out.

These results can benefit portfolio managers, analysts, investors and policymakers in hedging risks and selecting suitable investments during increased global uncertainty. The study's conclusions help policymakers establish an institutional and supervisory framework that will make it easier to spot systematic risks and reduce them by putting countercyclical measures in place.

India has no geographical proximity or trade relations with Russia or Ukraine, as strong as any other European country. However, Russia has remained a strong ally to India in the trade of defense equipment. Similar is the case with Ukraine, a significant global partner for India. Thus, the impact of conflict between these two countries has not been limited to Europe only but has also engulfed related economies. Hence, the present study is one of the first attempts to examine the burns sustained by the Indian economy due to this war.