Risk factor disclosures in the US Airline Industry following the COVID-19 pandemic

• Autor(a) principal: Penela, D.
• Data de Publicação: 2023
• Outros Autores: Palma, M.
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10071/28188
• topic: Risk reporting; Aviation industry; Leximancer; United States of America; 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 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.