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Objective Measurement for Disasters Impact on Companies Stock Prices

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DOI: 10.23977/icemgd.2019.014

Author(s)

Kenji Yamaguchi and Yukari Shirota

Corresponding Author

Kenji Yamaguchi

ABSTRACT

Tourists' pro-environmental behavior is a hot topic in the study of tourism geography,but case study of red tourist destination is rare.Compared with other types of tourist destination,red tourist destination carries the main function of red cultural education and implements necessary environmental education for tourists. It is of certain theoretical and practical significance to do case study in order to clarify the characteristics, influencing factors, influencing mechanism and promotion path of the pro--environmental behavior of tourist in red tourism destinations in mainland China,under the background that tourism ecological civilization is vigorously being promoted. Therefore, this paper chooses Shaoshan Scenic Spot, a classical red area in Hunan Province as the research site.Based on 406 sample data,a structural equation model was constructed with tourists' perception of red education and environmental education as independent variables,pro-environmental behavior as dependent variable and place-attachment as mediating variable.The results revealed that tourists generally had a high level of pro -environmental behavior; tourists' perception of red education had a significant positive impact on pro -environmental behavior,which was mediated by place attachment;tourists' perception of environmental education had a significant positive impact on pro-environmental behavior, among which self self -guided environmental education was more effective than other-guided environmental education.Accordingly, the red tourist destination may improve tourists' pro -environmental behavior through both rational educational intervention and emotional cultivation. Specifically, in order to comprehensively enhance tourists' comprehensive perception of on-site environmental education,besides providing self-guided environmental interpretation,the destination may strengthen the other-guided environmental interpretation as well, that is, to increase the demonstration, intervention and guidance role of on-site staff, and to encourage mutual or multiple supervision among tourists.At the same time, it may pay attention to the organic combination of red education and environmental education,and strengthen the emotional management of tourists to enhance the place attachment.

KEYWORDS

Disaster impact on stock prices; System trading; Random Matrix Theory; Singular Value Decomposition; Negative acceleration; Company network; President Trump; Japanese automakers

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