Understanding reputational disaster during economic crises: Evaluating aviation sector response differentials

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dc.contributor.authorAkyildirim, Erdincen
dc.contributor.authorCorbet, Shaenen
dc.contributor.authorNicolau, Juan Luisen
dc.contributor.authorOxley, Lesen
dc.date.accessioned2024-10-02T17:32:38Zen
dc.date.available2024-10-02T17:32:38Zen
dc.date.issued2025-02-01en
dc.description.abstractThis research investigates the impact of reputational events on the financial performance of airlines, with a particular focus on differential behaviour regarding the types of events—environmental, social, and governance (ESG), and the economic cycle, whether recessionary or expansionary. Based on a sample of 6288 events, our findings reveal a distinct pattern of depressed returns and increased variance in the aftermath of high severity and novel reputational events—more pronounced during periods of domestic economic crisis. Interestingly, our results show that reputational damage tied to environmental issues does not carry the same weight as those in social and governance categories. Further, contagion effects are identified within the industry, with significant spillovers observed during periods of stability and crisis. This research holds important implications for corporate reputation management, ESG investing, and regulatory policy, underlining the need for transparent communication and stringent oversight across the aviation industry.en
dc.description.versionPublished versionen
dc.format.mimetypeapplication/pdfen
dc.identifier105028 (Article number)en
dc.identifier.doihttps://doi.org/10.1016/j.tourman.2024.105028en
dc.identifier.eissn1879-3193en
dc.identifier.issn0261-5177en
dc.identifier.orcidNicolau Gonzalbez, Juan [0000-0003-0048-2823]en
dc.identifier.urihttps://hdl.handle.net/10919/121264en
dc.identifier.volume106en
dc.language.isoenen
dc.publisherElsevieren
dc.rightsCreative Commons Attribution 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/en
dc.subjectAirlinesen
dc.subjectCorporate reputationen
dc.subjectSentimenten
dc.subjectMarket misconducten
dc.subjectRecessionen
dc.titleUnderstanding reputational disaster during economic crises: Evaluating aviation sector response differentialsen
dc.title.serialTourism Managementen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten
dc.type.otherJournal Articleen
pubs.organisational-groupVirginia Techen
pubs.organisational-groupVirginia Tech/Pamplin College of Businessen
pubs.organisational-groupVirginia Tech/Pamplin College of Business/Hospitality and Tourism Managementen
pubs.organisational-groupVirginia Tech/All T&R Facultyen
pubs.organisational-groupVirginia Tech/Pamplin College of Business/PCOB T&R Facultyen

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