TY - JOUR
T1 - Financial risk exposures in the airline industry
T2 - evidence from Australia and New Zealand
AU - Loudon, Geoffrey F.
PY - 2004
Y1 - 2004
N2 - Important financial risks facing the airline industry include interest-rate, currency and fuel-price risk. This paper estimates the exposure to these risks within the airline industry of Australia and New Zealand, using both linear and non-linear specifications, for a variety of horizon lengths. Evidence for exposure, both symmetric and asymmetric, tends to strengthen as the return horizon is lengthened. Exposure to these financial risks is largely unchanged by the terrorist attacks and the collapse of a major competitor in September 2001.
AB - Important financial risks facing the airline industry include interest-rate, currency and fuel-price risk. This paper estimates the exposure to these risks within the airline industry of Australia and New Zealand, using both linear and non-linear specifications, for a variety of horizon lengths. Evidence for exposure, both symmetric and asymmetric, tends to strengthen as the return horizon is lengthened. Exposure to these financial risks is largely unchanged by the terrorist attacks and the collapse of a major competitor in September 2001.
KW - AIRLINE INDUSTRY
KW - FINANCIAL RISK EXPOSURE
KW - RISK MANAGEMENT
UR - http://www.scopus.com/inward/record.url?scp=84996196986&partnerID=8YFLogxK
U2 - 10.1177/031289620402900208
DO - 10.1177/031289620402900208
M3 - Article
AN - SCOPUS:84996196986
SN - 0312-8962
VL - 29
SP - 295
EP - 316
JO - Australian Journal of Management
JF - Australian Journal of Management
IS - 2
ER -