Gm. Lepak, AIRLINE DEREGULATION AND THE IMPACT ON STOCK-PRICES OF MAJOR SURVIVING CARRIERS, TRANSPORTATION RESEARCH PART E-LOGISTICS AND TRANSPORTATION REVIEW, 33(2), 1997, pp. 107-115
Citations number
20
Categorie Soggetti
Transportation,"Operatione Research & Management Science",Transportation
This paper examines the effects of deregulation on stock price movemen
ts for the major surviving carriers in the airline industry. Linear tr
ansfer function model building procedures are used to define the dynam
ic relationships between price changes in the market and price changes
in airline stocks. Analysis confirms that stock price changes in the
airline industry are less sensitive to price changes in the market fol
lowing the industry deregulation of 1978. The importance of the joint
estimation of transfer function parameters and outlier effects is also
illustrated. (C) 1997 Elsevier Science Ltd.