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

被引：11
|
作者：
Chuang, I-Yuan [2 ]
Chiu, Yen-Chen [3 ]
Wang, C. Edward [1 ]
机构：
[1] Natl Taiwan Univ, Dept Business Adm, Taipei 10764, Taiwan
[2] Natl Chung Cheng Univ, Dept Finance, Chiayi, Taiwan
[3] Natl Taichung Inst Technol, Dept Finance, Taichung, Taiwan
来源：
JOURNAL OF AIR TRANSPORT MANAGEMENT | 2008年 / 14卷 / 05期
关键词：
Airlines; Asian financial crisis; Employee stock ownership plans; Modified Sharpe ratio; Value at risk;
D O I：
10.1016/j.jairtraman.2008.05.001
中图分类号：
U [交通运输];
学科分类号：
08 ; 0823 ;
摘要：
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. (C) 2008 Elsevier Ltd. All rights reserved.
引用
收藏
页码：257 / 262
页数：6
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