Aviation fuel hedging and firm value analysis using dynamic panel data methodology: Evidence from the U.S. major passenger airlines
The Durbin-Hausman panel co-integration (DHp) test reveals a statistically significant long run relationship between firms’ values and aviation fuel hedging activities for the U.S. major passenger airlines. Moreover, the results of the fully modified least square estimation suggest that aviation fuel hedging has positive impact on those firms’ values.
Source: Aviation fuel hedging and firm value analysis using dynamic panel data methodology – Econstor