Yazar "Ay, Serkan" seçeneğine göre listele

Listeleniyor 1 - 1 / 1
  • Küçük Resim
    Öğe
    Impact of discounted ticket ads on airlines stock price: an empirical analysis for Pegasus airlines
    (İstanbul Bilgi Üniversitesi, 2020) Ay, Serkan; Öztürk, Serda Selin
    ABSTRACT: Aviation industry is one of the indispensable components of the global economy which makes possible to connect people, cultures and businesses to the furthest places in the world. Accurate pricing strategy is an important factor in creating value for both shareholders and investors especially for airlines companies which transport passengers. In this study, the impact of discounted ticket ads on airlines stock price with an empirical analysis for Pegasus Airlines for a specific period of time is examined. Since the low-cost carriers’ pricing policy is generally dynamic with discounts and promotions due to the business model and the market competition, Pegasus Airlines, which is the leading low-cost carrier in Turkey, is determined as research subject. The Capital Asset Pricing Model (CAPM) is employed to examine the relationship between Pegasus Airlines stock return and discounted ticket ads for given days of the sample campaigns. Additional independent variables, including USD/TL, EUR/TL, Brent oil and Public Disclosure Platform (KAP) announcements, are also included in the CAPM. As a result of the regression estimation, the beta value indicates that Pegasus Airlines stock is less volatile than BIST-100 index. Abnormal return coefficient is positive, indicating that Pegasus Airlines stock performed better than the BIST-100 index, but it is not significant in measuring how much Pegasus Airlines outperform or underperform the BIST-100 index. As a result of the studies made on the CAPM, discounted ticket ads are found to be insignificant on explaining Pegasus Airlines stock return for given research period between 01.10.2018 and 30.11.2019.