HİSSE SENEDİ PİYASALARININ EMİSYON TİCARETİYLE İLGİLİ DÜZENLEMELERE TEPKİSİ: AVRUPA HAVAYOLU ENDÜSTRİSİNDEN BİR KANIT
Yayınlanmış 26.06.2019
Anahtar Kelimeler
- European Union emission trading scheme, Stock market reactions, Event-study methodology, Airline industry.
- Avrupa Birliği emisyon ticareti sistemi, Hisse senedi piyasası tepkisi, Olay analizi metodolojisi, Havayolu sektörü.
Nasıl Atıf Yapılır
Nasıl Atıf Yapılır
Öz
Uluslararası havacılığın 2012 yılından itibaren Avrupa Birliği (AB) Emisyon Ticareti Sistemine dâhil edilmesinin, başlangıç veya varış noktası bir AB havaalanı olan uçuşlara ilave bir maliyet getirmesi beklenmektedir. Bu da havayollarına yeni maliyetler getirecektir. Bu makalenin amacı, finansal piyasaların bu düzenleyici değişikliğe yönelik duyurulara nasıl tepki verdiğini analiz etmektir. Olay analizi metodolojisi uygulanarak ve 20 adet Avrupalı havayolu şirketine ait hisse senetleri kullanılarak elde edilen sonuçlar, hisse senedi piyasalarının havayolu şirketlerini değerlendirirken bu düzenlemeleri dikkate almama eğiliminde olduklarını göstermektedir. Çalışmanın diğer bir sonucuna göre, düşük maliyetli havayollarına ait hisse senetlerindeki tepkinin derecesi, tam hizmet sunan havayolu hisselerindeki tepkiden farklı değildir.
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