| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17233 |
| 来源ID | Working Paper 17233 |
| How Do Firm Financial Conditions Affect Product Quality and Pricing? | |
| Gordon M. Phillips; Giorgo Sertsios | |
| 发表日期 | 2011-07-21 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | We analyze the interaction of firm product quality and pricing decisions with financial distress and bankruptcy in the airline industry. We consider an airline's choices of quality and price as dynamic decisions that trade off current cash flows for future revenue. We examine how airline mishandled baggage, on-time performance and pricing are related to financial distress and bankruptcy, controlling for the endogeneity of financial distress and bankruptcy. We find that an airline's quality decisions are differentially affected by financial distress and bankruptcy. Product quality decreases when airlines are in financial distress, consistent with financial distress reducing a firm's incentive to invest in quality. In contrast, in bankruptcy product quality increases relative to financial distress. In addition, we find that firms price more aggressively when in financial distress consistent with firms trying to increase short-term market share and revenues. |
| 主题 | Financial Economics ; Corporate Finance ; Industrial Organization ; Market Structure and Firm Performance ; Firm Behavior ; Industry Studies |
| URL | https://www.nber.org/papers/w17233 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574908 |
| 推荐引用方式 GB/T 7714 | Gordon M. Phillips,Giorgo Sertsios. How Do Firm Financial Conditions Affect Product Quality and Pricing?. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17233.pdf（338KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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