Airline stock market performance and political relations: A cross-quantilogram analysis of Chinese and US carriers

Yifei Cai, Yahua Zhang, Yanrui Wu and Tsangyao Chang

Transport Policy, 2024, vol. 155, issue C, 124-149

Abstract: 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.

Keywords: Airline stock returns; US-China political relation; Geopolitical risks; Partisan conflicts; Cross-quantilogram (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0967070X24001884
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:trapol:v:155:y:2024:i:c:p:124-149

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/supportfaq.cws_home/regional
https://shop.elsevie ... _01_ooc_1&version=01

DOI: 10.1016/j.tranpol.2024.06.025

Access Statistics for this article

Transport Policy is currently edited by Y. Hayashi

More articles in Transport Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().