The Information Content of Nonfinancial Performance Measures in the Airline Industry
Stephen L. Liedtka
Journal of Business Finance & Accounting, 2002, vol. 29, issue 7‐8, 1105-1121
This research extends the literature on nonfinancial performance measures (NFPMs) by assessing (1) the information content of a broader set of NFPMs and (2) whether NFPMs provide information not provided by financial performance measures (FPMs) from all previously identified FPM categories, rather than just earnings and book value. Specifically, exploratory and confirmatory factor analysis results presented in this paper demonstrate that nineteen NFPMs of major airlines capture seven underlying constructs not captured by eighteen common FPMs. Additionally, this research develops reliable composite measures of the identified performance measure constructs, which prior research argues are superior to individual performance measures.
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Persistent link: https://EconPapers.repec.org/RePEc:bla:jbfnac:v:29:y:2002:i:7-8:p:1105-1121
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