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Article: The United States International Air Route Award Process: Shareholder Wealth Effects and Policy Implications

TitleThe United States International Air Route Award Process: Shareholder Wealth Effects and Policy Implications
Authors
Issue Date1997
PublisherSpringer New York LLC. The Journal's web site is located at http://springerlink.metapress.com/openurl.asp?genre=journal&issn=0922-680X
Citation
Journal Of Regulatory Economics, 1997, v. 12 n. 2, p. 197-217 How to Cite?
AbstractThis study empirically investigates the market pricing dynamics of United States airline stocks in response to United States government allocations of exclusive, zero-priced international air route awards from the 1963 to 1993 time period. A $900 filing fee required by the Department of Transportation represents the only explicit monetary cost associated with the award of an international air route. This low fee suggests that the current award system subsidizes United States airlines by transferring valuable public property rights to private ownership and control for paltry explicit fees. The performed dollar abnormal tests suggest that the 82 analysed international air routes have enriched airline shareholders by about $3.5 billion.
Persistent Identifierhttp://hdl.handle.net/10722/85655
ISSN
2015 Impact Factor: 0.864
2015 SCImago Journal Rankings: 0.759
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorPruitt, SWen_HK
dc.contributor.authorHoffer, GEen_HK
dc.contributor.authorTse, KSMen_HK
dc.date.accessioned2010-09-06T09:07:40Z-
dc.date.available2010-09-06T09:07:40Z-
dc.date.issued1997en_HK
dc.identifier.citationJournal Of Regulatory Economics, 1997, v. 12 n. 2, p. 197-217en_HK
dc.identifier.issn0922-680Xen_HK
dc.identifier.urihttp://hdl.handle.net/10722/85655-
dc.description.abstractThis study empirically investigates the market pricing dynamics of United States airline stocks in response to United States government allocations of exclusive, zero-priced international air route awards from the 1963 to 1993 time period. A $900 filing fee required by the Department of Transportation represents the only explicit monetary cost associated with the award of an international air route. This low fee suggests that the current award system subsidizes United States airlines by transferring valuable public property rights to private ownership and control for paltry explicit fees. The performed dollar abnormal tests suggest that the 82 analysed international air routes have enriched airline shareholders by about $3.5 billion.en_HK
dc.languageengen_HK
dc.publisherSpringer New York LLC. The Journal's web site is located at http://springerlink.metapress.com/openurl.asp?genre=journal&issn=0922-680Xen_HK
dc.relation.ispartofJournal of Regulatory Economicsen_HK
dc.titleThe United States International Air Route Award Process: Shareholder Wealth Effects and Policy Implicationsen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0922-680X&volume=12&issue=2&spage=197&epage=217&date=1997&atitle=The+United+States+International+Air+Route+Award+Process:+Shareholder+Wealth+Effects+and+Policy+Implicationsen_HK
dc.identifier.emailTse, KSM: ktse@hku.hken_HK
dc.identifier.authorityTse, KSM=rp01101en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1023/A:1007957629146-
dc.identifier.scopuseid_2-s2.0-0031499859en_HK
dc.identifier.hkuros36134en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0031499859&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume12en_HK
dc.identifier.issue2en_HK
dc.identifier.spage197en_HK
dc.identifier.epage217en_HK
dc.identifier.isiWOS:A1997XV37100006-
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridPruitt, SW=7007089892en_HK
dc.identifier.scopusauthoridHoffer, GE=6602566532en_HK
dc.identifier.scopusauthoridTse, KSM=7103352647en_HK

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