The influence of aviation disasters on engine manufacturers: An analysis of financial and reputational contagion risks

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buir.contributor.authorŞensoy, Ahmet
buir.contributor.orcidŞensoy, Ahmet|0000-0001-7967-5171
dc.citation.epage101630-17en_US
dc.citation.spage101630-1en_US
dc.citation.volumeNumber74en_US
dc.contributor.authorAkyıldırım, E.
dc.contributor.authorCorbet, S.
dc.contributor.authorO'Connell, J. F.
dc.contributor.authorŞensoy, Ahmet
dc.date.accessioned2022-02-17T08:14:19Z
dc.date.available2022-02-17T08:14:19Z
dc.date.issued2021-03
dc.departmentDepartment of Managementen_US
dc.description.abstractOne of the key sub-sectors in the aviation industry includes that of engine manufacturers, who have long led technological advancement and the battle to reduce airline carbon emissions. However, these same companies have been susceptible to a number of issues that have been central to international airlines due to higher costs and competition pressures. When an aviation disaster occurs, there is widespread allocation of blame and responsibility, which has left engine manufacturers exposed until the true cause is identified. This can generate many issues with regards to reputational damage and ability to generate finance. We set out to analyse such interactions over time and region. Our results indicate that engine manufacturers have had to contend with substantial income and financial leverage issues in the aftermath of a major aviation disaster, irrespective of whether they have been identified as a causation factor in the incident itself. Further, we clearly identify that there exists an average one day loss of 1.64% in the immediate aftermath of aviation incidents. Substantial corporate instability is found to persist without the company being in any way responsible for the incident. Shortly thereafter, contagion effects increase as speculation diminishes and more factual evidence arrives. The role of social media is examined as a potential contributory factor.en_US
dc.description.provenanceSubmitted by Samet Emre (samet.emre@bilkent.edu.tr) on 2022-02-17T08:14:19Z No. of bitstreams: 1 The_influence_of_aviation_disasters_on_engine_manufacturers_An_analysis_of_financial_and_reputational_contagion_risks.pdf: 1298687 bytes, checksum: 5d39a776cf9b5c5ed5118dd3e09074d1 (MD5)en
dc.description.provenanceMade available in DSpace on 2022-02-17T08:14:19Z (GMT). No. of bitstreams: 1 The_influence_of_aviation_disasters_on_engine_manufacturers_An_analysis_of_financial_and_reputational_contagion_risks.pdf: 1298687 bytes, checksum: 5d39a776cf9b5c5ed5118dd3e09074d1 (MD5) Previous issue date: 2021-03en
dc.embargo.release2023-03-31
dc.identifier.doi10.1016/j.irfa.2020.101630en_US
dc.identifier.issn1057-5219
dc.identifier.urihttp://hdl.handle.net/11693/77452
dc.language.isoEnglishen_US
dc.publisherElsevier BVen_US
dc.relation.isversionofhttps://doi.org/10.1016/j.irfa.2020.101630en_US
dc.source.titleInternational Review of Financial Analysisen_US
dc.subjectAviation disastersen_US
dc.subjectContagionen_US
dc.subjectEngine manufacturersen_US
dc.subjectFinancial marketsen_US
dc.subjectReputational risksen_US
dc.subjectTourismen_US
dc.subjectTransporten_US
dc.titleThe influence of aviation disasters on engine manufacturers: An analysis of financial and reputational contagion risksen_US
dc.typeArticleen_US

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