Ciliberto, Federico and Schenone, Carola (2012): Bankruptcy and product-market competition: evidence from the airline industry.
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We investigate the effects of Chapter 11 bankruptcy filings on product market competition using data from the US airline industry. We find: i) bankrupt airlines permanently downsize their national route structure, their airport-specific networks, and their route-specific flight frequency and capacity; ii) bankrupt airlines lower their route-specific prices while under bankruptcy protection, and increase them after emerging. We do not find robust evidence of significant changes by the bankrupt airline's competitors along any of the dimensions above.
|Item Type:||MPRA Paper|
|Original Title:||Bankruptcy and product-market competition: evidence from the airline industry|
|Keywords:||Airline Industry, Bankruptcy, Product Market Competition, Chapter 11|
|Subjects:||K - Law and Economics > K2 - Regulation and Business Law
L - Industrial Organization > L9 - Industry Studies: Transportation and Utilities > L93 - Air Transportation
G - Financial Economics > G3 - Corporate Finance and Governance
L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance
|Depositing User:||Federico Ciliberto|
|Date Deposited:||07. May 2012 12:55|
|Last Modified:||14. Feb 2013 16:27|
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Bankruptcy and Product-Market Competition: Evidence from the Airline Industry. (deposited 14. Sep 2010 11:49)
Bankruptcy and Product-Market Competition: Evidence from the Airline Industry. (deposited 08. Oct 2010 02:40)
- Bankruptcy and product-market competition: evidence from the airline industry. (deposited 07. May 2012 12:55) [Currently Displayed]
- Bankruptcy and Product-Market Competition: Evidence from the Airline Industry. (deposited 08. Oct 2010 02:40)