id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
cord-285829-adz819gj	Maneenop, Sakkakom	The impacts of COVID-19 on the global airline industry:An event study approach	2020-08-27		.txt	text/plain	3035	183	57	This study examines the short-term impact of the 2019 novel coronavirus (COVID-19) outbreak on 52 listed airline companies around the world by using event study methodology. The results demonstrate that airline stock returns declined more significantly than the market returns after three major COVID-19 announcements were made. We employ event study methodology in order to investigate the impact of official press releases on airline stock returns. Event study suggested by Fama, Fisher, Jensen, and Roll (1969) is the main methodology employed in this research, which is a common methodology in the economic and finance literature to investigate the impact of new information arrival from a particular event on stock prices. The results imply time-varying behaviors of the participants in stock markets in the global airline industry. Negative or positive ‫ܴܣܥ‬ ,(௧ భ ,௧ మ ) implies that stock prices deviate from their fair value during the examined period when the market responds to the new information.	./cache/cord-285829-adz819gj.txt	./txt/cord-285829-adz819gj.txt