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International transmission of shocks in the airline industry

Author

Listed:
  • Gillen, David
  • Lall, Ashish

Abstract

There is a large literature on the international transmission of financial and other economic crises. This paper borrows from macroliterature to study an industry specific issue. It examines the impact of an industry specific real shock on firms within that industry, but in countries other than the crisis. In particular, it examines the impact of the events of September 11, 2001 on the market value of non-US airlines. In addition is attempts to identify both graphically and statistically, the importance of trade linkages and airline alliances in the international transmission of shocks.

Suggested Citation

  • Gillen, David & Lall, Ashish, 2003. "International transmission of shocks in the airline industry," Journal of Air Transport Management, Elsevier, vol. 9(1), pages 37-49.
    • Handle: RePEc:eee:jaitra:v:9:y:2003:i:1:p:37-49
    DOI: 10.1016/S0969-6997(02)00068-6
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    References listed on IDEAS

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    3. Maneenop, Sakkakom & Kotcharin, Suntichai, 2020. "The impacts of COVID-19 on the global airline industry: An event study approach," Journal of Air Transport Management, Elsevier, vol. 89(C).
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    5. Yaghoub Abdi & Xiaoni Li & Xavier Càmara-Turull, 2023. "Firm value in the airline industry: perspectives on the impact of sustainability and Covid-19," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-24, December.
    6. Dewansh Raheja & R. Guo & S. M. Phyoe & Y. X. Lee & Z. W. Zhong, 2017. "Air Traffic and Economic Output: Projections for ASEAN," International Journal of Business and Administrative Studies, Professor Dr. Bahaudin G. Mujtaba, vol. 3(3), pages 92-99.
    7. Dobruszkes, Frédéric & Van Hamme, Gilles, 2011. "The impact of the current economic crisis on the geography of air traffic volumes: an empirical analysis," Journal of Transport Geography, Elsevier, vol. 19(6), pages 1387-1398.
    8. Lai, Sue Ling & Lu, Whei-Li, 2005. "Impact analysis of September 11 on air travel demand in the USA," Journal of Air Transport Management, Elsevier, vol. 11(6), pages 455-458.
    9. Viviana Costa & Maria Alberta Oliveira & Carlos Santos, 2024. "Assessing the Pandemic Aviation Crisis: Speculative Behavior, Government Bail Outs, and Accommodative Monetary Policy," Economies, MDPI, vol. 12(10), pages 1-24, September.
    10. Nicolau, Juan Luis & Sharma, Abhinav, 2022. "A review of research into drivers of firm value through event studies in tourism and hospitality: Launching the Annals of Tourism Research curated collection on drivers of firm value through event stu," Annals of Tourism Research, Elsevier, vol. 95(C).
    11. Alderighi, Marco & Cento, Alessandro, 2004. "European airlines conduct after September 11," Journal of Air Transport Management, Elsevier, vol. 10(2), pages 97-107.
    12. repec:dau:papers:123456789/6794 is not listed on IDEAS
    13. Dziedzic, Marcin & Njoya, Eric T. & Warnock-Smith, David & Hubbard, Nick, 2020. "Determinants of air traffic volumes and structure at small European airports," Research in Transportation Economics, Elsevier, vol. 79(C).
    14. Harumi Ito & Darin Lee, 2005. "Comparing the Impact of the September 11th Terrorist Attacks on International Airline Demand," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 12(2), pages 225-249.
    15. Cosmas, Alex & Love, Robert & Rajiwade, Swapnil & Linz, Marco, 2013. "Market clustering and performance of U.S. OD markets," Journal of Air Transport Management, Elsevier, vol. 28(C), pages 20-25.
    16. Pawel Hydzik & Mariola Nycz & Marek Sobolewski, 2021. "An Estimation of the Number of Lost Airport Passenger Services as a Result of the Covid-19 Pandemic in Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 753-762.
    17. Benoit Chèze & Pascal Gastineau & Julien Chevallier, 2010. "Forecasting air traffic and corresponding jet-fuel demande until 2025," Working Papers hal-02489878, HAL.
    18. Kotcharin, Suntichai & Maneenop, Sakkakom & Jaroenjitrkam, Anutchanat, 2023. "The impact of government policy responses on airline stock return during the COVID-19 crisis," Research in Transportation Economics, Elsevier, vol. 99(C).
    19. Cheng, Yung-Hsiang & Yang, Ann Shawing & Liu, Yen Hua, 2009. "Financial investment behavior tendencies of air carriers," Journal of Air Transport Management, Elsevier, vol. 15(6), pages 354-356.
    20. Marco Alderighi & Alessandro Cento, 2003. "European Airlines Conduct after September 11th," ERSA conference papers ersa03p431, European Regional Science Association.
    21. Corbo, Leonardo & Corrado, Raffaele & Ferriani, Simone, 2024. "Network pathways of peripheral firm entry: Empirical evidence from the global airline industry," Research Policy, Elsevier, vol. 53(4).

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