IDEAS home Printed from https://ideas.repec.org/a/eee/jaitra/v105y2022ics0969699722001181.html
   My bibliography  Save this article

Behind the scenes of glamour: A systematic literature review of the business aviation sector

Author

Listed:
  • Pantelaki, Evangelia
  • Papatheodorou, Andreas

Abstract

Unlike the other air transport business models, air cargo and business aviation proved resilient during the COVID-19 pandemic setting the fundamentals for further growth in the post-pandemic business environment. In contrast to air cargo, however, business aviation is relatively under-researched. On these grounds, this paper is of interest as it examines the available academic contributions on business aviation using a systematic literature review methodology. Based on Scopus, Transportation Research International Documentation (TRID) and Web of Science databases and after applying specific inclusion criteria, 260 papers were selected for further analysis. We performed a descriptive analysis to identify the basic characteristics of the papers and a content analysis with VOSviewer software to comprehend deeply the arguments that have been investigated so far. We found that the first paper was published in 1966 and until 2021 there is a steady but slow increase in the scientific research mainly in four disciplines: Applied Sciences (70.00%), Economic and Social Sciences (18.46%), Natural Sciences (9.23%) and Health Sciences (2.31%). There are 637 researchers working in affiliations located in 37 countries that have studied business aviation-related issues. Nevertheless, they have formed small networks within their country or affiliation's boundaries. United States is the country that leads the research on business aviation in terms of publications and unique researchers' affiliations while University of Quebec from Canada is the leading affiliation with the highest number of publications. The content analysis showed that business aviation research is limited to a few topics among which engineering management aspects have mostly been explored. Overall, the results show that much room exists for future research on business aviation especially with respect to economics and business management issues, environmental impacts, and health-related topics.

Suggested Citation

  • Pantelaki, Evangelia & Papatheodorou, Andreas, 2022. "Behind the scenes of glamour: A systematic literature review of the business aviation sector," Journal of Air Transport Management, Elsevier, vol. 105(C).
    • Handle: RePEc:eee:jaitra:v:105:y:2022:i:c:s0969699722001181
    DOI: 10.1016/j.jairtraman.2022.102299
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0969699722001181
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jairtraman.2022.102299?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Dong W Cho, 2006. "A Chain-Type Price Index for New Business Jet Aircraft," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 41(1), pages 45-52, January.
    2. Lee, Lian Fen & Lowry, Michelle & Shu, Susan, 2018. "Are all perks solely perks? Evidence from corporate jets," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 460-473.
    3. Alessandro Gavazza, 2016. "An Empirical Equilibrium Model of a Decentralized Asset Market," Econometrica, Econometric Society, vol. 84, pages 1755-1798, September.
    4. Anthony M. Marino & Ján Zábojník, 2008. "Work‐related perks, agency problems, and optimal incentive contracts," RAND Journal of Economics, RAND Corporation, vol. 39(2), pages 565-585, June.
    5. Bender, Alan R. & Stephenson, Frederick J., 1998. "Contemporary issues affecting the demand for business air travel in the United States," Journal of Air Transport Management, Elsevier, vol. 4(2), pages 99-109.
    6. Xavier Giroud, 2013. "Proximity and Investment: Evidence from Plant-Level Data," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 128(2), pages 861-915.
    7. Mariia Kozlova & Timo Nykänen & Julian Scott Yeomans, 2021. "Technical Advances in Aviation Electrification: Enhancing Strategic R&D Investment Analysis through Simulation Decomposition," Sustainability, MDPI, vol. 14(1), pages 1-12, December.
    8. Philipp Schumacher, 2013. "The EU’s flawed assessment of horizontal aspects in GE/Honeywell: re-visiting the last pillar of the European prohibition decision," European Journal of Law and Economics, Springer, vol. 35(2), pages 211-240, April.
    9. Jesse Edgerton, 2012. "Agency Problems in Public Firms: Evidence from Corporate Jets in Leveraged Buyouts," Journal of Finance, American Finance Association, vol. 67(6), pages 2187-2213, December.
    10. Bushee, Brian J. & Gerakos, Joseph & Lee, Lian Fen, 2018. "Corporate jets and private meetings with investors," Journal of Accounting and Economics, Elsevier, vol. 65(2), pages 358-379.
    11. Winter, Scott R. & Rice, Stephen & Mehta, Rian & Cremer, Ismael & Reid, Katie M. & Rosser, Timothy G. & Moore, Julie C., 2015. "Indian and American consumer perceptions of cockpit configuration policy," Journal of Air Transport Management, Elsevier, vol. 42(C), pages 226-231.
    12. Berster, Peter & Gelhausen, Marc C. & Wilken, Dieter, 2011. "Business aviation in Germany: An empirical and model-based analysis," Journal of Air Transport Management, Elsevier, vol. 17(6), pages 354-359.
    13. Ginieis, Matías & Sánchez-Rebull, María-Victoria & Campa-Planas, Fernando, 2012. "The academic journal literature on air transport: Analysis using systematic literature review methodology," Journal of Air Transport Management, Elsevier, vol. 19(C), pages 31-35.
    14. Budd, Lucy & Graham, Brian, 2009. "Unintended trajectories: liberalization and the geographies of private business flight," Journal of Transport Geography, Elsevier, vol. 17(4), pages 285-292.
    15. Wei Yang & Itır Karaesmen & Pınar Keskinocak & Sridhar Tayur, 2008. "Aircraft and crew scheduling for fractional ownership programs," Annals of Operations Research, Springer, vol. 159(1), pages 415-431, March.
    16. Yermack, David, 2014. "Tailspotting: Identifying and profiting from CEO vacation trips," Journal of Financial Economics, Elsevier, vol. 113(2), pages 252-269.
    17. Alverson, Warren J., 1972. "Businessmen in the blue [or is it the red?]," Business Horizons, Elsevier, vol. 15(2), pages 79-88, April.
    18. Nees Jan Eck & Ludo Waltman, 2010. "Software survey: VOSviewer, a computer program for bibliometric mapping," Scientometrics, Springer;Akadémiai Kiadó, vol. 84(2), pages 523-538, August.
    19. Erkmen, Ezgi & Hancer, Murat, 2015. "Linking brand commitment and brand citizenship behaviors of airline employees: “The role of trustâ€," Journal of Air Transport Management, Elsevier, vol. 42(C), pages 47-54.
    20. Thomas W. Gilligan, 2004. "Lemons and Leases in the Used Business Aircraft Market," Journal of Political Economy, University of Chicago Press, vol. 112(5), pages 1157-1186, October.
    21. ROBERT N. McGRATH, 2004. "Revolutionary Industrial Change In Air Transport — Research And Strategic Application," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 1(03), pages 341-358.
    22. Favarò, Francesca M. & Saleh, Joseph H., 2018. "Application of temporal logic for safety supervisory control and model-based hazard monitoring," Reliability Engineering and System Safety, Elsevier, vol. 169(C), pages 166-178.
    23. Wang, Sen & Gao, Yi, 2021. "A literature review and citation analyses of air travel demand studies published between 2010 and 2020," Journal of Air Transport Management, Elsevier, vol. 97(C).
    24. Yermack, David, 2006. "Flights of fancy: Corporate jets, CEO perquisites, and inferior shareholder returns," Journal of Financial Economics, Elsevier, vol. 80(1), pages 211-242, April.
    25. Jesse Jacobs & Brad Goebel, 2020. "The business aviation industry: growth, contraction and consolidation," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 55(1), pages 53-61, January.
    26. Claire Starry & Gerald W Bernstein, 2008. "The Economics of Private Business Jet Travel," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 43(4), pages 36-44, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chia-Ying Chan & Iftekhar Hasan & Chih-Yung Lin, 2021. "Agency cost of CEO perquisites in bank loan contracts," Review of Quantitative Finance and Accounting, Springer, vol. 56(4), pages 1221-1258, May.
    2. Ting, Hsiu-I & Huang, Po-Kai, 2018. "CEOs’ power and perks: Evidence from Chinese banks," Journal of Economics and Business, Elsevier, vol. 97(C), pages 19-27.
    3. Liu, Huan & Hou, Canran, 2023. "The external effect of institutional cross-ownership on excessive managerial perks," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 483-501.
    4. Bushee, Brian J. & Gerakos, Joseph & Lee, Lian Fen, 2018. "Corporate jets and private meetings with investors," Journal of Accounting and Economics, Elsevier, vol. 65(2), pages 358-379.
    5. Lee, Lian Fen & Lowry, Michelle & Shu, Susan, 2018. "Are all perks solely perks? Evidence from corporate jets," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 460-473.
    6. Stacey Beaumont & Raluca Ratiu & David Reeb & Glenn Boyle & Philip Brown & Alexander Szimayer & Raymond Silva Rosa & David Hillier & Patrick McColgan & Athanasios Tsekeris & Bryan Howieson & Zoltan Ma, 2016. "Comments on Shan and Walter: ‘Towards a Set of Design Principles for Executive Compensation Contracts’," Abacus, Accounting Foundation, University of Sydney, vol. 52(4), pages 685-771, December.
    7. Li, Bin & Yao, Yao & Shahab, Yasir & Li, Hai-Xia & Ntim, Collins G., 2020. "Parent-subsidiary dispersion and executive excess perks consumption," International Review of Financial Analysis, Elsevier, vol. 70(C).
    8. Gul, Ferdinand A. & Cheng, Louis T.W. & Leung, T.Y., 2011. "Perks and the informativeness of stock prices in the Chinese market," Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1410-1429.
    9. Cao, Jerry & Wang, Hanyang & Zhou, Sili, 2022. "Soft activism and corporate dividend policy: Evidence from institutional investors site visits," Journal of Corporate Finance, Elsevier, vol. 75(C).
    10. Cronqvist, Henrik & Fahlenbrach, Rüdiger, 2013. "CEO contract design: How do strong principals do it?," Journal of Financial Economics, Elsevier, vol. 108(3), pages 659-674.
    11. Xu, Nianhang & Li, Xiaorong & Yuan, Qingbo & Chan, Kam C., 2014. "Excess perks and stock price crash risk: Evidence from China," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 419-434.
    12. Hua Zhang & Yuanyang Song & Yuan Ding, 2015. "What Drives Managerial Perks? An Empirical Test of Competing Theoretical Perspectives," Journal of Business Ethics, Springer, vol. 132(2), pages 259-275, December.
    13. Fichert, Frank & Kirschnerová, Ivana & Tomová, Anna, 2020. "Business models in business aviation – An empirical analysis with a focus on Air Charter Companies," Research in Transportation Economics, Elsevier, vol. 79(C).
    14. Leon Zolotoy & Don O’Sullivan & Geoffrey P. Martin, 2022. "Behavioural Agency and Firm Productivity: Revisiting the Incentive Alignment Qualities of Stock Options," Journal of Management Studies, Wiley Blackwell, vol. 59(7), pages 1756-1787, November.
    15. Francesco Pasimeni, 2020. "The Origin of the Sharing Economy Meets the Legacy of Fractional Ownership," SPRU Working Paper Series 2020-19, SPRU - Science Policy Research Unit, University of Sussex Business School.
    16. Duquette, Nicolas J. & Ohrn, Eric C., 2018. "Corporate charitable foundations, executive entrenchment, and shareholder distributions," Journal of Economic Behavior & Organization, Elsevier, vol. 152(C), pages 235-253.
    17. Pattarin Adithipyangkul & Ilan Alon & Tianyu Zhang, 2011. "Executive perks: Compensation and corporate performance in China," Asia Pacific Journal of Management, Springer, vol. 28(2), pages 401-425, June.
    18. Alessandro Gavazza & Alessandro Lizzeri & Nikita Roketskiy, 2014. "A Quantitative Analysis of the Used-Car Market," American Economic Review, American Economic Association, vol. 104(11), pages 3668-3700, November.
    19. Yaghoub Abdi & Xiaoni Li & Xavier Càmara-Turull, 2023. "Firm value in the airline industry: perspectives on the impact of sustainability and Covid-19," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-24, December.
    20. Lifang Chen & Minghui Han & Yong Li & William L. Megginson & Hao Zhang, 2022. "Foreign ownership and corporate excess perks," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(1), pages 72-93, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jaitra:v:105:y:2022:i:c:s0969699722001181. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/journal-of-air-transport-management/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.