The effects of corporate governance on airline performance: Production and marketing efficiency perspectives

Lu, Wen Min; Wang, Wei Kang; Hung, Shiu Wan; Lu, En Tzu

doi:10.1016/j.tre.2011.09.003

Cited by 125 publications

(50 citation statements)

References 51 publications

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“…From corporate governance perspective, as depicted in Tabled 7, solely Board Size has a weak positive significance on leverage consistent with Lu et al (2012), Abor (2007) and Sheikh and Wang (2012). The findings above hold when the dependent variable is taken as long-term leverage.…”

Section: Results Of Panel Data Regressionssupporting

confidence: 60%

Sermaye Yapısını Etkileyen Faktörler: BIST Ulaştırma Endeksinde Bir Uygulama

Akgül¹,

Sigali²

2018

Muhasebe Ve Finansman Dergisi

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Section: Results Of Panel Data Regressionssupporting

confidence: 60%

Sermaye Yapısını Etkileyen Faktörler: BIST Ulaştırma Endeksinde Bir Uygulama

Akgül¹,

Sigali²

2018

Muhasebe Ve Finansman Dergisi

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“…The size and type of an organization may impact on its risk appetite and hedging strategies (Hendricks, Singhal 2003), that are likely to matter when it comes to dealing with fuel prices. In the airline sector, only Lu et al (2012) indicate that, in general, the low-cost airlines, on average, are more efficient carriers than the full-service ones, but less efficient marketers.…”

Section: Effects On Company Performance In the Airline Industrymentioning

confidence: 99%

“…However, to the best of our knowledge, with Lu et al (2012) we are the first to focus on the distinction between low-cost and regular companies in the airline sector.…”

Section: Introductionmentioning

confidence: 99%

Jet Fuel Price Variations and Market Value: A Focus on Low-Cost and Regular Airline Companies

Gaudenzi

Bucciol

2016

Journal of Business Economics and Management

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Abstract. We analyze the relationship between dynamics to stock prices and jet fuel prices, conditional on financial and company-specific variables, in the airline sector. In particular, our contribution to the literature is in the comparison between regular and low-cost airline companies. We run a set of fixed-effect regressions where the dependent variable, the stock daily return of the airline company (observed between 2008 and 2014) is regressed over three sets of explanatory variables (financial, company-specific and time variables). While large and small companies provide similar results, we find that the company price return -among different variables -correlates only with the jet fuel return and the stock market return. Our work also suggests that there is a difference between regular and low-cost companies. We speculate that this possibly arises because low-cost companies stock-pile in a more efficient way, which depends less on current jet fuel price. Our evidence then sheds light on the efficiency of the low-cost model and may suggest to export part of its practice among regular airline companies.

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“…For example, Liang et al (2011) develop a twostage model with a feedback loop from stage 2 to stage 1, and Chen et al (2010) propose a two-stage model with shared inputs for the two stages. Applications of the two-stage and network DEA models have been applied to measuring performance of bank branch with information technology (Chen et al 2010), corporate governance on airline(Lu et al 2012), Chinese commercial banking(Wang et al 2014;Liu et al 2015;Zha et al 2015), and tourist hotels(Huang et al 2015), among others Cook et al (2010). extend the two-stage additive DEA model to multi-stage and network models Cook et al (2010).…”

mentioning

confidence: 99%