Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/297604 
Year of Publication: 
2022
Citation: 
[Journal:] Contemporary Economics [ISSN:] 2300-8814 [Volume:] 16 [Issue:] 3 [Year:] 2022 [Pages:] 257-275
Publisher: 
University of Finance and Management in Warsaw, Faculty of Management and Finance, Warsaw
Abstract: 
The COVID-19 outbreak dealt a severe blow to the global economy, especially to the airline industry, due to worldwide lockdown measures implemented by the authorities. This paper aims to investigate the impact of the COVID-19 pandemic on the airline stock performance of seven markets in Asia and three other markets in Australia, Germany and the United States. The data is collected from 42 airline firms from 2019 to 2020. The research outcomes indicate that: (a) COVID-19 only temporarily impacts stock returns; (b) Market values plunge immediately after the first confirmed case, and it still shows no evidence of returning to the price levels before the outbreak; (c) COVID-19 has a significant impact on stock volatility; (d) Most stocks do not illustrate any higher exposure to systematic risks.
Subjects: 
COVID-19
pandemic
airline stock return
risk performance
JEL: 
G14
G15
L93
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.