The performance of Asian airlines in the recent financial turmoil based on VaR and modified Sharpe ratio

I-Yuan Chuang, Yen-Chen Chiu and C. Edward Wang

Journal of Air Transport Management, 2008, vol. 14, issue 5, 257-262

Abstract: Stock performance evaluation is an important subject widely studied for both theoretical and practical purposes. It is particularly relevant for the highly cyclical airline industry now in a financial crisis. Here it is shown that the use of conventional performance measures, such as the Sharpe ratio, could seriously mislead investors regarding stock performances of airline companies.

Keywords: Airlines; Asian financial crisis; Employee stock ownership plans; Modified Sharpe ratio; Value at risk (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jaitra:v:14:y:2008:i:5:p:257-262

DOI: 10.1016/j.jairtraman.2008.05.001

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