haku: @indexterm privatization / yhteensä: 703
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| Tekijä: | Eckel, C. Eckel, D. Singal, V. |
| Otsikko: | Privatization and efficiency: Industry effects of the sale of British Airways |
| Lehti: | Journal of Financial Economics
1997 : FEB, VOL. 43:2, p. 275-298 |
| Asiasana: | PRIVATIZATION AIRLINES CASE STUDIES |
| Kieli: | eng |
| Tiivistelmä: | The effect of privatization on the performance of British Airways is analyzed. The analyzation is done by examining the privatization's impact on airfares and competitors' stock prices. It is found that stock prices of U.S. competitors fell a significant 7 % on British Airways' privatization, implying expectation of a more competitive British Airways. Closer rivals of British Airways experienced a greater drop in stock price than more distant rivals. Further, airfares in markets served by British Airways fell significantly on privatization. The results suggest that a change from government to private ownership improves economic efficiency. |
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