航空公司股市表现与政治关系:中美航空公司的交叉量表分析

IF 6.3 2区 工程技术 Q1 ECONOMICS
Yifei Cai , Yahua Zhang , Yanrui Wu , Tsangyao Chang
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引用次数: 0

摘要

本研究主要探讨航空公司股票收益与各种政治变量(包括中美政治关系、地缘政治风险和党派冲突)之间的量纲依赖性和方向预测性。为实现这些目标,本文采用了一种新颖的交叉量纲法。研究结果表明,当航空公司股票收益和政治环境出现极端情况时,方向可预测性更为明显。此外,与中美政治关系指数和地缘政治风险指数相比,美国党派冲突指数对依赖结构的影响更大。此外,在党派冲突和地缘政治风险下,美国航空股收益率的行为也有相似之处。最后,提出了政策启示。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Airline stock market performance and political relations: A cross-quantilogram analysis of Chinese and US carriers

This study focuses on examining the quantile dependence and directional predictability between airline stock returns and various political variables, including the US-China political relations, geopolitical risks, and partisan conflicts. To achieve these goals, a novel cross-quantilogram method is employed. The findings reveal that directional predictability is more pronounced when airline stock returns and the political environment experience extreme conditions. In addition, the US partisan conflicts index exhibits a more substantial influence on the dependence structure than the indexes of Sino-US political relations and geopolitical risks. Moreover, similarities are observed in the behavior of US airline stock returns given partisan conflicts and geopolitical risks. Finally, policy implications are provided.

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来源期刊
Transport Policy
Transport Policy Multiple-
CiteScore
12.10
自引率
10.30%
发文量
282
期刊介绍: Transport Policy is an international journal aimed at bridging the gap between theory and practice in transport. Its subject areas reflect the concerns of policymakers in government, industry, voluntary organisations and the public at large, providing independent, original and rigorous analysis to understand how policy decisions have been taken, monitor their effects, and suggest how they may be improved. The journal treats the transport sector comprehensively, and in the context of other sectors including energy, housing, industry and planning. All modes are covered: land, sea and air; road and rail; public and private; motorised and non-motorised; passenger and freight.
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