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    Please use this identifier to cite or link to this item: http://ir.lib.ksu.edu.tw/handle/987654321/4955

    Title: The market valuation of new route announcements
    Authors: Dungchun Tsai
    Shaochi Chang
    WeiWei Chen(陳薇薇)
    Chau-lan Tran
    Keywords: New route announcements
    Route strategy
    Entry strategy
    Event-study methodology
    Date: 2008
    Issue Date: 2009-09-12 13:13:53 (UTC+8)
    Abstract: Making use of event-study methodology, we assess how a new route announcement affects an airline’s
    stock market value. In addition, it verifies that route strategy and entry strategy contribute to the
    direction and magnitude of the stock market reaction. With respect to route strategy, both opening a
    new domestic route and announcing multiple new routes achieve the greater financial gain. There are
    first mover advantages, whereby early entrants gain more than later entrants. Additionally, a pricediscounting
    strategy contributes to market value. Airlines carrying out specific expansion activities (e.g.,
    aircraft purchases or crew recruiting) have a high the potential for high profits. However, airlines do not
    benefit from developing alliances to acquire new routes.
    Relation: Journal of Air Transport Management
    Appears in Collections:[Department of Public Relations & Advertising] Periodical Articles

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