Risk Factor Disclosures in the US Airline Industry Following the COVID-19 Pandemic
This study examines how airlines in the United States report risk at a difficult and uncertain time as a result of the COVID-19 pandemic. The fundamental differences between the years 2019 and 2020 are identified using Leximancer, which is used to locate the key ideas and themes addressed in the ris...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2023-02-01
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| Series: | Risks |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2227-9091/11/2/34 |
| _version_ | 1797618390795288576 |
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| author | Daniela Penela Miguel Palma |
| author_facet | Daniela Penela Miguel Palma |
| author_sort | Daniela Penela |
| collection | DOAJ |
| description | This study examines how airlines in the United States report risk at a difficult and uncertain time as a result of the COVID-19 pandemic. The fundamental differences between the years 2019 and 2020 are identified using Leximancer, which is used to locate the key ideas and themes addressed in the risk reporting sections. Following the pandemic, the themes that addressed generic and recurring hazards were afforded less weight than themes that highlighted risks particular to day-to-day business and the stock market. The findings also point to the need for corporations to disclose future-oriented risks more fully in post-COVID-19 reporting, with an emphasis on unpredictability, stock volatility, and operational disruption. This study adds to the body of knowledge on risk profiling, particularly as it relates to the airline business, and it offers stakeholders and investors a glimpse into the general concerns of airlines. The inherent information imbalance between management and investors is lessened and transparency is increased because of this improved understanding of the market. |
| first_indexed | 2024-03-11T08:12:20Z |
| format | Article |
| id | doaj.art-e835b41e704740c3a19e9705bbe70a23 |
| institution | Directory Open Access Journal |
| issn | 2227-9091 |
| language | English |
| last_indexed | 2024-03-11T08:12:20Z |
| publishDate | 2023-02-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Risks |
| spelling | doaj.art-e835b41e704740c3a19e9705bbe70a232023-11-16T23:05:02ZengMDPI AGRisks2227-90912023-02-011123410.3390/risks11020034Risk Factor Disclosures in the US Airline Industry Following the COVID-19 PandemicDaniela Penela0Miguel Palma1Academia Militar, CINAMIL, 2720-113 Amadora, PortugalInstituto Universitário de Lisboa (ISCTE-IUL), 1649-026 Lisboa, PortugalThis study examines how airlines in the United States report risk at a difficult and uncertain time as a result of the COVID-19 pandemic. The fundamental differences between the years 2019 and 2020 are identified using Leximancer, which is used to locate the key ideas and themes addressed in the risk reporting sections. Following the pandemic, the themes that addressed generic and recurring hazards were afforded less weight than themes that highlighted risks particular to day-to-day business and the stock market. The findings also point to the need for corporations to disclose future-oriented risks more fully in post-COVID-19 reporting, with an emphasis on unpredictability, stock volatility, and operational disruption. This study adds to the body of knowledge on risk profiling, particularly as it relates to the airline business, and it offers stakeholders and investors a glimpse into the general concerns of airlines. The inherent information imbalance between management and investors is lessened and transparency is increased because of this improved understanding of the market.https://www.mdpi.com/2227-9091/11/2/34risk reportingaviation industryLeximancerUnited States of AmericaCOVID-19pandemic |
| spellingShingle | Daniela Penela Miguel Palma Risk Factor Disclosures in the US Airline Industry Following the COVID-19 Pandemic Risks risk reporting aviation industry Leximancer United States of America COVID-19 pandemic |
| title | Risk Factor Disclosures in the US Airline Industry Following the COVID-19 Pandemic |
| title_full | Risk Factor Disclosures in the US Airline Industry Following the COVID-19 Pandemic |
| title_fullStr | Risk Factor Disclosures in the US Airline Industry Following the COVID-19 Pandemic |
| title_full_unstemmed | Risk Factor Disclosures in the US Airline Industry Following the COVID-19 Pandemic |
| title_short | Risk Factor Disclosures in the US Airline Industry Following the COVID-19 Pandemic |
| title_sort | risk factor disclosures in the us airline industry following the covid 19 pandemic |
| topic | risk reporting aviation industry Leximancer United States of America COVID-19 pandemic |
| url | https://www.mdpi.com/2227-9091/11/2/34 |
| work_keys_str_mv | AT danielapenela riskfactordisclosuresintheusairlineindustryfollowingthecovid19pandemic AT miguelpalma riskfactordisclosuresintheusairlineindustryfollowingthecovid19pandemic |