Search results

This paper investigates the short-term market impact of the beginning of the military conflict between Russia and Ukraine (February 24, 2022) on a set of airline stocks listed.

This study uses an event study methodology, cross-section analyses and interaction effects to study the effect of the war on airline stock prices and firm-specific characteristics that explain the cumulative abnormal return.

The authors observe a negative and statistically significant stock price reaction at and around the beginning of the military conflict between Russia and Ukraine, for 74 listed airlines. These results are consistent with investment portfolio rebalancing and asset pricing perspective. Moreover, this study's results show a higher negative stock market reaction for airlines based in Europe. Empirical evidence suggests the existence of a “proximity penalty” for European companies. Finally, this study's results provide insights into which airline-specific characteristics emerge as value drivers. Larger, well-capitalized (high liquidity and low debt) and profitable airlines firms with less institutional ownership have superior stock market returns and show more able to handle with the losses resulting from the war.

This paper fills a gap in the literature about the impact of the Russia–Ukraine war on the airline industry.

This article is about the construction of masculinity in the German rap scene. After giving a short overview over the history, structure, main narratives and economic relevance of German rap, the construction of rap masculinity will be mainly discussed in the context of a transformation of the (global) gender order. For example, what impact does the rise and success of female rappers have on the gendered power relations within the German rap scene? Does the inclusion of feminine-coded moves and sounds, aesthetics or topics indicate a shift towards more alternative forms of masculinity? And what does it mean, when male rap artists currently rap about the meaning of masculinity, as if it was something that has to be (re-?) defined all at once?

The field study works with different data material from the rap scene, lyrics, interviews, but also multimodal signs as album covers, photos, video material, etc. Through discourse analysis, major discursive lines and threads are pointed out to draw a picture of gender order in this distinctive social and artistic setting.