IDEAS home Printed from https://ideas.repec.org/a/eee/jaitra/v10y2004i3p173-180.html
   My bibliography  Save this article

American airlines’ takeover of TWA: an ex-post analysis of financial market information

Author

Listed:
  • Flouris, Triant
  • Swidler, Steve

Abstract

This paper examines the stock market's reaction to the announcement of American Airline's takeover of Trans World Airlines, and then analyzes subsequent price movement through the completion of the merger. A second part of the analysis looks at American Airline's stock performance following the events of September 11, 2001. Given the dramatic changes to the airline industry after this national tragedy, it is possible that September 11th had further implications for the economic gains of the merger. As part of this analysis, we compare American's performance to Delta Airlines, a carrier similar in scope and size.

Suggested Citation

  • Flouris, Triant & Swidler, Steve, 2004. "American airlines’ takeover of TWA: an ex-post analysis of financial market information," Journal of Air Transport Management, Elsevier, vol. 10(3), pages 173-180.
    • Handle: RePEc:eee:jaitra:v:10:y:2004:i:3:p:173-180
    DOI: 10.1016/j.jairtraman.2003.10.002
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0969699703000747
    Download Restriction: Full text for ScienceDirect subscribers only

    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. Robert Schweitzer, 1989. "How do stock returns react to special events?," Business Review, Federal Reserve Bank of Philadelphia, issue Jul, pages 17-29.
    2. Brown, Stephen J. & Warner, Jerold B., 1985. "Using daily stock returns : The case of event studies," Journal of Financial Economics, Elsevier, vol. 14(1), pages 3-31, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Cheng, Yung-Hsiang & Yang, Ann Shawing & Liu, Yen Hua, 2009. "Financial investment behavior tendencies of air carriers," Journal of Air Transport Management, Elsevier, vol. 15(6), pages 354-356.
    2. repec:eee:jaitra:v:64:y:2017:i:pa:p:15-20 is not listed on IDEAS
    3. Jenatabadi, Hashem Salarzadeh & Ismail, Noor Azina, 2014. "Application of structural equation modelling for estimating airline performance," Journal of Air Transport Management, Elsevier, vol. 40(C), pages 25-33.

    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:10:y:2004:i:3:p:173-180. See general information about how to correct material in RePEc.

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

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.