Do airlines always suffer from crashes?
Description
We examine the impact of aviation disasters on the stock prices of the crash airlines and their rival airlines. Results show that the crash airlines experience deeper negative abnormal returns as the degree of fatality increases. The stock prices of the rival airlines also suffer in large-scale disasters but benefit from the disasters when the fatality is minor.
Impact and interest:
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| ID Code: | 73811 | ||
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| Item Type: | Contribution to Journal (Journal Article) | ||
| Refereed: | Yes | ||
| ORCID iD: |
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| Measurements or Duration: | 5 pages | ||
| Keywords: | Air crashes, Contagion effect, Event study, Stock market, Switch effect | ||
| DOI: | 10.1016/j.econlet.2012.09.031 | ||
| ISSN: | 0165-1765 | ||
| Pure ID: | 32589522 | ||
| Divisions: | Past > QUT Faculties & Divisions > QUT Business School Current > Schools > School of Economics & Finance |
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| Copyright Owner: | Consult author(s) regarding copyright matters | ||
| Copyright Statement: | This work is covered by copyright. Unless the document is being made available under a Creative Commons Licence, you must assume that re-use is limited to personal use and that permission from the copyright owner must be obtained for all other uses. If the document is available under a Creative Commons License (or other specified license) then refer to the Licence for details of permitted re-use. It is a condition of access that users recognise and abide by the legal requirements associated with these rights. If you believe that this work infringes copyright please provide details by email to qut.copyright@qut.edu.au | ||
| Deposited On: | 14 Jul 2014 00:38 | ||
| Last Modified: | 26 Jun 2024 08:28 |
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