id sid tid token lemma pos cord-285829-adz819gj 1 1 key key NN cord-285829-adz819gj 1 2 : : : cord-285829-adz819gj 1 3 cord-285829-adz819gj cord-285829-adz819gj ADD cord-285829-adz819gj 2 1 authors author NNS cord-285829-adz819gj 2 2 : : : cord-285829-adz819gj 2 3 Maneenop Maneenop NNP cord-285829-adz819gj 2 4 , , , cord-285829-adz819gj 2 5 Sakkakom Sakkakom NNP cord-285829-adz819gj 2 6 ; ; : cord-285829-adz819gj 2 7 Kotcharin Kotcharin NNP cord-285829-adz819gj 2 8 , , , cord-285829-adz819gj 3 1 Suntichai Suntichai NNP cord-285829-adz819gj 3 2 title title NN cord-285829-adz819gj 3 3 : : : cord-285829-adz819gj 3 4 The the DT cord-285829-adz819gj 3 5 impacts impact NNS cord-285829-adz819gj 3 6 of of IN cord-285829-adz819gj 3 7 COVID-19 covid-19 NN cord-285829-adz819gj 3 8 on on IN cord-285829-adz819gj 3 9 the the DT cord-285829-adz819gj 3 10 global global JJ cord-285829-adz819gj 3 11 airline airline NN cord-285829-adz819gj 3 12 industry industry NN cord-285829-adz819gj 3 13 : : : cord-285829-adz819gj 3 14 An an DT cord-285829-adz819gj 3 15 event event NN cord-285829-adz819gj 3 16 study study NN cord-285829-adz819gj 3 17 approach approach NN cord-285829-adz819gj 3 18 date date NN cord-285829-adz819gj 3 19 : : : cord-285829-adz819gj 3 20 2020 2020 CD cord-285829-adz819gj 3 21 - - HYPH cord-285829-adz819gj 3 22 08 08 CD cord-285829-adz819gj 3 23 - - HYPH cord-285829-adz819gj 3 24 27 27 CD cord-285829-adz819gj 3 25 journal journal NN cord-285829-adz819gj 3 26 : : : cord-285829-adz819gj 4 1 J J NNP cord-285829-adz819gj 4 2 Air Air NNP cord-285829-adz819gj 4 3 Transp Transp NNP cord-285829-adz819gj 5 1 Manag Manag NNP cord-285829-adz819gj 5 2 DOI DOI NNP cord-285829-adz819gj 5 3 : : : cord-285829-adz819gj 5 4 10.1016 10.1016 CD cord-285829-adz819gj 5 5 / / SYM cord-285829-adz819gj 5 6 j.jairtraman.2020.101920 j.jairtraman.2020.101920 NN cord-285829-adz819gj 5 7 sha sha NNP cord-285829-adz819gj 5 8 : : : cord-285829-adz819gj 5 9 51607c3b21774be7dc7f5029b8c32bbe8b7816b7 51607c3b21774be7dc7f5029b8c32bbe8b7816b7 CD cord-285829-adz819gj 6 1 doc_id doc_id CD cord-285829-adz819gj 7 1 : : : cord-285829-adz819gj 7 2 285829 285829 CD cord-285829-adz819gj 7 3 cord_uid cord_uid NNS cord-285829-adz819gj 7 4 : : : cord-285829-adz819gj 8 1 adz819gj adz819gj NNP cord-285829-adz819gj 9 1 This this DT cord-285829-adz819gj 9 2 study study NN cord-285829-adz819gj 9 3 examines examine VBZ cord-285829-adz819gj 9 4 the the DT cord-285829-adz819gj 9 5 short short JJ cord-285829-adz819gj 9 6 - - HYPH cord-285829-adz819gj 9 7 term term NN cord-285829-adz819gj 9 8 impact impact NN cord-285829-adz819gj 9 9 of of IN cord-285829-adz819gj 9 10 the the DT cord-285829-adz819gj 9 11 2019 2019 CD cord-285829-adz819gj 9 12 novel novel NN cord-285829-adz819gj 9 13 coronavirus coronavirus NN cord-285829-adz819gj 9 14 ( ( -LRB- cord-285829-adz819gj 9 15 COVID-19 COVID-19 NNP cord-285829-adz819gj 9 16 ) ) -RRB- cord-285829-adz819gj 9 17 outbreak outbreak NN cord-285829-adz819gj 9 18 on on IN cord-285829-adz819gj 9 19 52 52 CD cord-285829-adz819gj 9 20 listed list VBN cord-285829-adz819gj 9 21 airline airline NN cord-285829-adz819gj 9 22 companies company NNS cord-285829-adz819gj 9 23 around around IN cord-285829-adz819gj 9 24 the the DT cord-285829-adz819gj 9 25 world world NN cord-285829-adz819gj 9 26 by by IN cord-285829-adz819gj 9 27 using use VBG cord-285829-adz819gj 9 28 event event NN cord-285829-adz819gj 9 29 study study NN cord-285829-adz819gj 9 30 methodology methodology NN cord-285829-adz819gj 9 31 . . . cord-285829-adz819gj 10 1 The the DT cord-285829-adz819gj 10 2 results result NNS cord-285829-adz819gj 10 3 demonstrate demonstrate VBP cord-285829-adz819gj 10 4 that that IN cord-285829-adz819gj 10 5 airline airline NN cord-285829-adz819gj 10 6 stock stock NN cord-285829-adz819gj 10 7 returns return NNS cord-285829-adz819gj 10 8 declined decline VBD cord-285829-adz819gj 10 9 more more RBR cord-285829-adz819gj 10 10 significantly significantly RB cord-285829-adz819gj 10 11 than than IN cord-285829-adz819gj 10 12 the the DT cord-285829-adz819gj 10 13 market market NN cord-285829-adz819gj 10 14 returns return NNS cord-285829-adz819gj 10 15 after after IN cord-285829-adz819gj 10 16 three three CD cord-285829-adz819gj 10 17 major major JJ cord-285829-adz819gj 10 18 COVID-19 COVID-19 NNP cord-285829-adz819gj 10 19 announcements announcement NNS cord-285829-adz819gj 10 20 were be VBD cord-285829-adz819gj 10 21 made make VBN cord-285829-adz819gj 10 22 . . . cord-285829-adz819gj 11 1 Overall overall RB cord-285829-adz819gj 11 2 , , , cord-285829-adz819gj 11 3 traders trader NNS cord-285829-adz819gj 11 4 reacted react VBD cord-285829-adz819gj 11 5 differently differently RB cord-285829-adz819gj 11 6 during during IN cord-285829-adz819gj 11 7 the the DT cord-285829-adz819gj 11 8 three three CD cord-285829-adz819gj 11 9 selected select VBN cord-285829-adz819gj 11 10 events event NNS cord-285829-adz819gj 11 11 . . . cord-285829-adz819gj 12 1 The the DT cord-285829-adz819gj 12 2 strongest strong JJS cord-285829-adz819gj 12 3 overreaction overreaction NN cord-285829-adz819gj 12 4 was be VBD cord-285829-adz819gj 12 5 noted note VBN cord-285829-adz819gj 12 6 in in IN cord-285829-adz819gj 12 7 the the DT cord-285829-adz819gj 12 8 post post JJ cord-285829-adz819gj 12 9 - - JJ cord-285829-adz819gj 12 10 event event JJ cord-285829-adz819gj 12 11 periods period NNS cord-285829-adz819gj 12 12 of of IN cord-285829-adz819gj 12 13 the the DT cord-285829-adz819gj 12 14 World World NNP cord-285829-adz819gj 12 15 Health Health NNP cord-285829-adz819gj 12 16 Organization Organization NNP cord-285829-adz819gj 12 17 's 's POS cord-285829-adz819gj 12 18 and and CC cord-285829-adz819gj 12 19 President President NNP cord-285829-adz819gj 12 20 Trump Trump NNP cord-285829-adz819gj 12 21 's 's POS cord-285829-adz819gj 12 22 official official JJ cord-285829-adz819gj 12 23 announcements announcement NNS cord-285829-adz819gj 12 24 . . . cord-285829-adz819gj 13 1 Moreover moreover RB cord-285829-adz819gj 13 2 , , , cord-285829-adz819gj 13 3 the the DT cord-285829-adz819gj 13 4 findings finding NNS cord-285829-adz819gj 13 5 confirm confirm VBP cord-285829-adz819gj 13 6 that that IN cord-285829-adz819gj 13 7 traders trader NNS cord-285829-adz819gj 13 8 in in IN cord-285829-adz819gj 13 9 western western JJ cord-285829-adz819gj 13 10 countries country NNS cord-285829-adz819gj 13 11 are be VBP cord-285829-adz819gj 13 12 more more RBR cord-285829-adz819gj 13 13 responsive responsive JJ cord-285829-adz819gj 13 14 to to IN cord-285829-adz819gj 13 15 recent recent JJ cord-285829-adz819gj 13 16 information information NN cord-285829-adz819gj 13 17 than than IN cord-285829-adz819gj 13 18 those those DT cord-285829-adz819gj 13 19 in in IN cord-285829-adz819gj 13 20 Asian asian JJ cord-285829-adz819gj 13 21 countries country NNS cord-285829-adz819gj 13 22 . . . cord-285829-adz819gj 14 1 The the DT cord-285829-adz819gj 14 2 findings finding NNS cord-285829-adz819gj 14 3 call call VBP cord-285829-adz819gj 14 4 for for IN cord-285829-adz819gj 14 5 immediate immediate JJ cord-285829-adz819gj 14 6 policy policy NN cord-285829-adz819gj 14 7 designs design NNS cord-285829-adz819gj 14 8 in in IN cord-285829-adz819gj 14 9 order order NN cord-285829-adz819gj 14 10 to to TO cord-285829-adz819gj 14 11 protect protect VB cord-285829-adz819gj 14 12 the the DT cord-285829-adz819gj 14 13 airline airline NN cord-285829-adz819gj 14 14 industry industry NN cord-285829-adz819gj 14 15 around around IN cord-285829-adz819gj 14 16 the the DT cord-285829-adz819gj 14 17 globe globe NN cord-285829-adz819gj 14 18 . . . cord-285829-adz819gj 15 1 The the DT cord-285829-adz819gj 15 2 2019 2019 CD cord-285829-adz819gj 15 3 coronavirus coronavirus NN cord-285829-adz819gj 15 4 pandemic pandemic NN cord-285829-adz819gj 15 5 as as IN cord-285829-adz819gj 15 6 the the DT cord-285829-adz819gj 15 7 newest new JJS cord-285829-adz819gj 15 8 global global JJ cord-285829-adz819gj 15 9 risk risk NN cord-285829-adz819gj 15 10 has have VBZ cord-285829-adz819gj 15 11 disrupted disrupt VBN cord-285829-adz819gj 15 12 business business NN cord-285829-adz819gj 15 13 operations operation NNS cord-285829-adz819gj 15 14 in in IN cord-285829-adz819gj 15 15 almost almost RB cord-285829-adz819gj 15 16 every every DT cord-285829-adz819gj 15 17 sector sector NN cord-285829-adz819gj 15 18 . . . cord-285829-adz819gj 16 1 The the DT cord-285829-adz819gj 16 2 airline airline NN cord-285829-adz819gj 16 3 industry industry NN cord-285829-adz819gj 16 4 is be VBZ cord-285829-adz819gj 16 5 one one CD cord-285829-adz819gj 16 6 of of IN cord-285829-adz819gj 16 7 the the DT cord-285829-adz819gj 16 8 first first JJ cord-285829-adz819gj 16 9 sectors sector NNS cord-285829-adz819gj 16 10 that that WDT cord-285829-adz819gj 16 11 was be VBD cord-285829-adz819gj 16 12 affected affect VBN cord-285829-adz819gj 16 13 from from IN cord-285829-adz819gj 16 14 the the DT cord-285829-adz819gj 16 15 event event NN cord-285829-adz819gj 16 16 because because IN cord-285829-adz819gj 16 17 the the DT cord-285829-adz819gj 16 18 disease disease NN cord-285829-adz819gj 16 19 is be VBZ cord-285829-adz819gj 16 20 easily easily RB cord-285829-adz819gj 16 21 passed pass VBN cord-285829-adz819gj 16 22 among among IN cord-285829-adz819gj 16 23 people people NNS cord-285829-adz819gj 16 24 . . . cord-285829-adz819gj 17 1 To to IN cord-285829-adz819gj 17 2 date date NN cord-285829-adz819gj 17 3 , , , cord-285829-adz819gj 17 4 there there EX cord-285829-adz819gj 17 5 is be VBZ cord-285829-adz819gj 17 6 no no DT cord-285829-adz819gj 17 7 official official JJ cord-285829-adz819gj 17 8 medical medical JJ cord-285829-adz819gj 17 9 treatment treatment NN cord-285829-adz819gj 17 10 for for IN cord-285829-adz819gj 17 11 the the DT cord-285829-adz819gj 17 12 disease disease NN cord-285829-adz819gj 17 13 , , , cord-285829-adz819gj 17 14 causing cause VBG cord-285829-adz819gj 17 15 a a DT cord-285829-adz819gj 17 16 tremendous tremendous JJ cord-285829-adz819gj 17 17 panic panic NN cord-285829-adz819gj 17 18 for for IN cord-285829-adz819gj 17 19 world world NN cord-285829-adz819gj 17 20 citizens citizen NNS cord-285829-adz819gj 17 21 . . . cord-285829-adz819gj 18 1 Thus thus RB cord-285829-adz819gj 18 2 , , , cord-285829-adz819gj 18 3 governments government NNS cord-285829-adz819gj 18 4 around around IN cord-285829-adz819gj 18 5 the the DT cord-285829-adz819gj 18 6 world world NN cord-285829-adz819gj 18 7 have have VBP cord-285829-adz819gj 18 8 launched launch VBN cord-285829-adz819gj 18 9 immediate immediate JJ cord-285829-adz819gj 18 10 policies policy NNS cord-285829-adz819gj 18 11 to to TO cord-285829-adz819gj 18 12 stop stop VB cord-285829-adz819gj 18 13 cross cross JJ cord-285829-adz819gj 18 14 - - JJ cord-285829-adz819gj 18 15 country country JJ cord-285829-adz819gj 18 16 transportation transportation NN cord-285829-adz819gj 18 17 . . . cord-285829-adz819gj 19 1 The the DT cord-285829-adz819gj 19 2 market market NN cord-285829-adz819gj 19 3 value value NN cord-285829-adz819gj 19 4 of of IN cord-285829-adz819gj 19 5 the the DT cord-285829-adz819gj 19 6 airline airline NN cord-285829-adz819gj 19 7 business business NN cord-285829-adz819gj 19 8 has have VBZ cord-285829-adz819gj 19 9 shrunk shrink VBN cord-285829-adz819gj 19 10 since since IN cord-285829-adz819gj 19 11 then then RB cord-285829-adz819gj 19 12 . . . cord-285829-adz819gj 20 1 Ultimately ultimately RB cord-285829-adz819gj 20 2 , , , cord-285829-adz819gj 20 3 this this DT cord-285829-adz819gj 20 4 incident incident NN cord-285829-adz819gj 20 5 motivates motivate VBZ cord-285829-adz819gj 20 6 us -PRON- PRP cord-285829-adz819gj 20 7 to to TO cord-285829-adz819gj 20 8 study study VB cord-285829-adz819gj 20 9 the the DT cord-285829-adz819gj 20 10 impact impact NN cord-285829-adz819gj 20 11 of of IN cord-285829-adz819gj 20 12 COVID-19 COVID-19 NNP cord-285829-adz819gj 20 13 on on IN cord-285829-adz819gj 20 14 the the DT cord-285829-adz819gj 20 15 performance performance NN cord-285829-adz819gj 20 16 of of IN cord-285829-adz819gj 20 17 the the DT cord-285829-adz819gj 20 18 airline airline NN cord-285829-adz819gj 20 19 industry industry NN cord-285829-adz819gj 20 20 around around IN cord-285829-adz819gj 20 21 the the DT cord-285829-adz819gj 20 22 world world NN cord-285829-adz819gj 20 23 . . . cord-285829-adz819gj 21 1 Because because IN cord-285829-adz819gj 21 2 the the DT cord-285829-adz819gj 21 3 COVID-19 covid-19 NN cord-285829-adz819gj 21 4 is be VBZ cord-285829-adz819gj 21 5 a a DT cord-285829-adz819gj 21 6 new new JJ cord-285829-adz819gj 21 7 event event NN cord-285829-adz819gj 21 8 , , , cord-285829-adz819gj 21 9 we -PRON- PRP cord-285829-adz819gj 21 10 are be VBP cord-285829-adz819gj 21 11 not not RB cord-285829-adz819gj 21 12 able able JJ cord-285829-adz819gj 21 13 to to TO cord-285829-adz819gj 21 14 find find VB cord-285829-adz819gj 21 15 exactly exactly RB cord-285829-adz819gj 21 16 similar similar JJ cord-285829-adz819gj 21 17 events event NNS cord-285829-adz819gj 21 18 for for IN cord-285829-adz819gj 21 19 comparison comparison NN cord-285829-adz819gj 21 20 . . . cord-285829-adz819gj 22 1 Similar similar JJ cord-285829-adz819gj 22 2 influences influence NNS cord-285829-adz819gj 22 3 can can MD cord-285829-adz819gj 22 4 be be VB cord-285829-adz819gj 22 5 seen see VBN cord-285829-adz819gj 22 6 in in IN cord-285829-adz819gj 22 7 the the DT cord-285829-adz819gj 22 8 catastrophic catastrophic JJ cord-285829-adz819gj 22 9 shocks shock NNS cord-285829-adz819gj 22 10 from from IN cord-285829-adz819gj 22 11 airline airline NN cord-285829-adz819gj 22 12 disasters disaster NNS cord-285829-adz819gj 22 13 ( ( -LRB- cord-285829-adz819gj 22 14 Kaplanski Kaplanski NNP cord-285829-adz819gj 22 15 and and CC cord-285829-adz819gj 22 16 Levy Levy NNP cord-285829-adz819gj 22 17 , , , cord-285829-adz819gj 22 18 2010 2010 CD cord-285829-adz819gj 22 19 ) ) -RRB- cord-285829-adz819gj 22 20 , , , cord-285829-adz819gj 22 21 the the DT cord-285829-adz819gj 22 22 September September NNP cord-285829-adz819gj 22 23 11 11 CD cord-285829-adz819gj 22 24 , , , cord-285829-adz819gj 22 25 2001 2001 CD cord-285829-adz819gj 22 26 attacks attack NNS cord-285829-adz819gj 22 27 ( ( -LRB- cord-285829-adz819gj 22 28 Gillen Gillen NNP cord-285829-adz819gj 22 29 and and CC cord-285829-adz819gj 22 30 Lall Lall NNP cord-285829-adz819gj 22 31 , , , cord-285829-adz819gj 22 32 2003 2003 CD cord-285829-adz819gj 22 33 ) ) -RRB- cord-285829-adz819gj 22 34 , , , cord-285829-adz819gj 22 35 and and CC cord-285829-adz819gj 22 36 the the DT cord-285829-adz819gj 22 37 impact impact NN cord-285829-adz819gj 22 38 of of IN cord-285829-adz819gj 22 39 Severe severe JJ cord-285829-adz819gj 22 40 Acute acute JJ cord-285829-adz819gj 22 41 Respiratory Respiratory NNP cord-285829-adz819gj 22 42 Syndrome Syndrome NNP cord-285829-adz819gj 22 43 ( ( -LRB- cord-285829-adz819gj 22 44 SARS SARS NNP cord-285829-adz819gj 22 45 ) ) -RRB- cord-285829-adz819gj 22 46 on on IN cord-285829-adz819gj 22 47 airline airline NN cord-285829-adz819gj 22 48 stocks stock NNS cord-285829-adz819gj 22 49 ( ( -LRB- cord-285829-adz819gj 22 50 Loh Loh NNP cord-285829-adz819gj 22 51 , , , cord-285829-adz819gj 22 52 2006 2006 CD cord-285829-adz819gj 22 53 ) ) -RRB- cord-285829-adz819gj 22 54 . . . cord-285829-adz819gj 23 1 A a DT cord-285829-adz819gj 23 2 recent recent JJ cord-285829-adz819gj 23 3 study study NN cord-285829-adz819gj 23 4 documents document VBZ cord-285829-adz819gj 23 5 the the DT cord-285829-adz819gj 23 6 impact impact NN cord-285829-adz819gj 23 7 of of IN cord-285829-adz819gj 23 8 COVID-19 COVID-19 NNP cord-285829-adz819gj 23 9 and and CC cord-285829-adz819gj 23 10 employment employment NN cord-285829-adz819gj 23 11 in in IN cord-285829-adz819gj 23 12 the the DT cord-285829-adz819gj 23 13 airline airline NN cord-285829-adz819gj 23 14 industry industry NN cord-285829-adz819gj 23 15 ( ( -LRB- cord-285829-adz819gj 23 16 Sobieralski Sobieralski NNP cord-285829-adz819gj 23 17 , , , cord-285829-adz819gj 23 18 2020 2020 CD cord-285829-adz819gj 23 19 ) ) -RRB- cord-285829-adz819gj 23 20 , , , cord-285829-adz819gj 23 21 but but CC cord-285829-adz819gj 23 22 the the DT cord-285829-adz819gj 23 23 impact impact NN cord-285829-adz819gj 23 24 of of IN cord-285829-adz819gj 23 25 the the DT cord-285829-adz819gj 23 26 COVID-19 COVID-19 NNP cord-285829-adz819gj 23 27 virus virus NN cord-285829-adz819gj 23 28 on on IN cord-285829-adz819gj 23 29 airline airline NN cord-285829-adz819gj 23 30 stock stock NN cord-285829-adz819gj 23 31 prices price NNS cord-285829-adz819gj 23 32 has have VBZ cord-285829-adz819gj 23 33 not not RB cord-285829-adz819gj 23 34 yet yet RB cord-285829-adz819gj 23 35 been be VBN cord-285829-adz819gj 23 36 investigated investigate VBN cord-285829-adz819gj 23 37 . . . cord-285829-adz819gj 24 1 In in IN cord-285829-adz819gj 24 2 order order NN cord-285829-adz819gj 24 3 to to TO cord-285829-adz819gj 24 4 fill fill VB cord-285829-adz819gj 24 5 this this DT cord-285829-adz819gj 24 6 gap gap NN cord-285829-adz819gj 24 7 , , , cord-285829-adz819gj 24 8 we -PRON- PRP cord-285829-adz819gj 24 9 aim aim VBP cord-285829-adz819gj 24 10 to to TO cord-285829-adz819gj 24 11 examine examine VB cord-285829-adz819gj 24 12 the the DT cord-285829-adz819gj 24 13 airline airline NN cord-285829-adz819gj 24 14 stock stock NN cord-285829-adz819gj 24 15 returns return NNS cord-285829-adz819gj 24 16 during during IN cord-285829-adz819gj 24 17 the the DT cord-285829-adz819gj 24 18 spread spread NN cord-285829-adz819gj 24 19 of of IN cord-285829-adz819gj 24 20 the the DT cord-285829-adz819gj 24 21 COVID-19 COVID-19 NNP cord-285829-adz819gj 24 22 pandemic pandemic NN cord-285829-adz819gj 24 23 . . . cord-285829-adz819gj 25 1 Although although IN cord-285829-adz819gj 25 2 the the DT cord-285829-adz819gj 25 3 World World NNP cord-285829-adz819gj 25 4 Health Health NNP cord-285829-adz819gj 25 5 Organization Organization NNP cord-285829-adz819gj 25 6 ( ( -LRB- cord-285829-adz819gj 25 7 WHO who WP cord-285829-adz819gj 25 8 ) ) -RRB- cord-285829-adz819gj 25 9 announced announce VBD cord-285829-adz819gj 25 10 the the DT cord-285829-adz819gj 25 11 first first JJ cord-285829-adz819gj 25 12 infected infected JJ cord-285829-adz819gj 25 13 case case NN cord-285829-adz819gj 25 14 in in IN cord-285829-adz819gj 25 15 China China NNP cord-285829-adz819gj 25 16 on on IN cord-285829-adz819gj 25 17 December December NNP cord-285829-adz819gj 25 18 31 31 CD cord-285829-adz819gj 25 19 , , , cord-285829-adz819gj 25 20 2019 2019 CD cord-285829-adz819gj 25 21 ( ( -LRB- cord-285829-adz819gj 25 22 WHO who WP cord-285829-adz819gj 25 23 , , , cord-285829-adz819gj 25 24 2020 2020 CD cord-285829-adz819gj 25 25 ) ) -RRB- cord-285829-adz819gj 25 26 , , , cord-285829-adz819gj 25 27 we -PRON- PRP cord-285829-adz819gj 25 28 consider consider VBP cord-285829-adz819gj 25 29 three three CD cord-285829-adz819gj 25 30 major major JJ cord-285829-adz819gj 25 31 dates date NNS cord-285829-adz819gj 25 32 related relate VBN cord-285829-adz819gj 25 33 to to IN cord-285829-adz819gj 25 34 COVID-19 covid-19 NN cord-285829-adz819gj 25 35 : : : cord-285829-adz819gj 25 36 ( ( -LRB- cord-285829-adz819gj 25 37 1 1 LS cord-285829-adz819gj 25 38 ) ) -RRB- cord-285829-adz819gj 25 39 the the DT cord-285829-adz819gj 25 40 first first JJ cord-285829-adz819gj 25 41 infected infected JJ cord-285829-adz819gj 25 42 case case NN cord-285829-adz819gj 25 43 outside outside IN cord-285829-adz819gj 25 44 China China NNP cord-285829-adz819gj 25 45 reported report VBD cord-285829-adz819gj 25 46 in in IN cord-285829-adz819gj 25 47 Thailand Thailand NNP cord-285829-adz819gj 25 48 ( ( -LRB- cord-285829-adz819gj 25 49 January January NNP cord-285829-adz819gj 25 50 13 13 CD cord-285829-adz819gj 25 51 , , , cord-285829-adz819gj 25 52 2020 2020 CD cord-285829-adz819gj 25 53 ) ) -RRB- cord-285829-adz819gj 25 54 ; ; : cord-285829-adz819gj 25 55 ( ( -LRB- cord-285829-adz819gj 25 56 2 2 LS cord-285829-adz819gj 25 57 ) ) -RRB- cord-285829-adz819gj 25 58 the the DT cord-285829-adz819gj 25 59 outbreak outbreak NN cord-285829-adz819gj 25 60 in in IN cord-285829-adz819gj 25 61 Italy Italy NNP cord-285829-adz819gj 25 62 ( ( -LRB- cord-285829-adz819gj 25 63 February February NNP cord-285829-adz819gj 25 64 21 21 CD cord-285829-adz819gj 25 65 , , , cord-285829-adz819gj 25 66 2020 2020 CD cord-285829-adz819gj 25 67 ) ) -RRB- cord-285829-adz819gj 25 68 ; ; : cord-285829-adz819gj 25 69 and and CC cord-285829-adz819gj 25 70 ( ( -LRB- cord-285829-adz819gj 25 71 3 3 LS cord-285829-adz819gj 25 72 ) ) -RRB- cord-285829-adz819gj 25 73 the the DT cord-285829-adz819gj 25 74 declaration declaration NN cord-285829-adz819gj 25 75 by by IN cord-285829-adz819gj 25 76 WHO WHO NNP cord-285829-adz819gj 25 77 on on IN cord-285829-adz819gj 25 78 the the DT cord-285829-adz819gj 25 79 global global JJ cord-285829-adz819gj 25 80 pandemic pandemic NN cord-285829-adz819gj 25 81 outbreak outbreak NN cord-285829-adz819gj 25 82 and and CC cord-285829-adz819gj 25 83 the the DT cord-285829-adz819gj 25 84 announcement announcement NN cord-285829-adz819gj 25 85 of of IN cord-285829-adz819gj 25 86 the the DT cord-285829-adz819gj 25 87 U.S. U.S. NNP cord-285829-adz819gj 25 88 ban ban NN cord-285829-adz819gj 25 89 on on IN cord-285829-adz819gj 25 90 travelers traveler NNS cord-285829-adz819gj 25 91 from from IN cord-285829-adz819gj 25 92 26 26 CD cord-285829-adz819gj 25 93 European european JJ cord-285829-adz819gj 25 94 countries country NNS cord-285829-adz819gj 25 95 ( ( -LRB- cord-285829-adz819gj 25 96 March March NNP cord-285829-adz819gj 25 97 11 11 CD cord-285829-adz819gj 25 98 , , , cord-285829-adz819gj 25 99 2020 2020 CD cord-285829-adz819gj 25 100 ) ) -RRB- cord-285829-adz819gj 26 1 ( ( -LRB- cord-285829-adz819gj 26 2 Dunford Dunford NNP cord-285829-adz819gj 26 3 et et NNP cord-285829-adz819gj 26 4 al al NNP cord-285829-adz819gj 26 5 . . NNP cord-285829-adz819gj 26 6 2020 2020 CD cord-285829-adz819gj 26 7 ) ) -RRB- cord-285829-adz819gj 26 8 . . . cord-285829-adz819gj 27 1 We -PRON- PRP cord-285829-adz819gj 27 2 select select VBP cord-285829-adz819gj 27 3 these these DT cord-285829-adz819gj 27 4 three three CD cord-285829-adz819gj 27 5 dates date NNS cord-285829-adz819gj 27 6 because because IN cord-285829-adz819gj 27 7 they -PRON- PRP cord-285829-adz819gj 27 8 demonstrate demonstrate VBP cord-285829-adz819gj 27 9 important important JJ cord-285829-adz819gj 27 10 steps step NNS cord-285829-adz819gj 27 11 regarding regard VBG cord-285829-adz819gj 27 12 the the DT cord-285829-adz819gj 27 13 uncontrolled uncontrolled JJ cord-285829-adz819gj 27 14 COVID-19 covid-19 JJ cord-285829-adz819gj 27 15 infection infection NN cord-285829-adz819gj 27 16 . . . cord-285829-adz819gj 28 1 We -PRON- PRP cord-285829-adz819gj 28 2 employ employ VBP cord-285829-adz819gj 28 3 event event NN cord-285829-adz819gj 28 4 study study NN cord-285829-adz819gj 28 5 methodology methodology NN cord-285829-adz819gj 28 6 in in IN cord-285829-adz819gj 28 7 order order NN cord-285829-adz819gj 28 8 to to TO cord-285829-adz819gj 28 9 investigate investigate VB cord-285829-adz819gj 28 10 the the DT cord-285829-adz819gj 28 11 impact impact NN cord-285829-adz819gj 28 12 of of IN cord-285829-adz819gj 28 13 official official JJ cord-285829-adz819gj 28 14 press press NN cord-285829-adz819gj 28 15 releases release NNS cord-285829-adz819gj 28 16 on on IN cord-285829-adz819gj 28 17 airline airline NN cord-285829-adz819gj 28 18 stock stock NN cord-285829-adz819gj 28 19 returns return NNS cord-285829-adz819gj 28 20 . . . cord-285829-adz819gj 29 1 Fifty fifty CD cord-285829-adz819gj 29 2 - - HYPH cord-285829-adz819gj 29 3 two two CD cord-285829-adz819gj 29 4 listed list VBN cord-285829-adz819gj 29 5 airline airline NN cord-285829-adz819gj 29 6 stocks stock NNS cord-285829-adz819gj 29 7 covering cover VBG cord-285829-adz819gj 29 8 all all DT cord-285829-adz819gj 29 9 continents continent NNS cord-285829-adz819gj 29 10 are be VBP cord-285829-adz819gj 29 11 included include VBN cord-285829-adz819gj 29 12 in in IN cord-285829-adz819gj 29 13 the the DT cord-285829-adz819gj 29 14 study study NN cord-285829-adz819gj 29 15 . . . cord-285829-adz819gj 30 1 The the DT cord-285829-adz819gj 30 2 first first JJ cord-285829-adz819gj 30 3 event event NN cord-285829-adz819gj 30 4 did do VBD cord-285829-adz819gj 30 5 not not RB cord-285829-adz819gj 30 6 show show VB cord-285829-adz819gj 30 7 a a DT cord-285829-adz819gj 30 8 significant significant JJ cord-285829-adz819gj 30 9 drop drop NN cord-285829-adz819gj 30 10 in in IN cord-285829-adz819gj 30 11 cumulative cumulative JJ cord-285829-adz819gj 30 12 abnormal abnormal JJ cord-285829-adz819gj 30 13 returns return NNS cord-285829-adz819gj 30 14 , , , cord-285829-adz819gj 30 15 reflecting reflect VBG cord-285829-adz819gj 30 16 an an DT cord-285829-adz819gj 30 17 underestimation underestimation NN cord-285829-adz819gj 30 18 of of IN cord-285829-adz819gj 30 19 the the DT cord-285829-adz819gj 30 20 severity severity NN cord-285829-adz819gj 30 21 of of IN cord-285829-adz819gj 30 22 COVID-19 COVID-19 NNP cord-285829-adz819gj 30 23 . . . cord-285829-adz819gj 31 1 However however RB cord-285829-adz819gj 31 2 , , , cord-285829-adz819gj 31 3 the the DT cord-285829-adz819gj 31 4 situation situation NN cord-285829-adz819gj 31 5 is be VBZ cord-285829-adz819gj 31 6 reversed reverse VBN cord-285829-adz819gj 31 7 in in IN cord-285829-adz819gj 31 8 the the DT cord-285829-adz819gj 31 9 subsequent subsequent JJ cord-285829-adz819gj 31 10 two two CD cord-285829-adz819gj 31 11 events event NNS cord-285829-adz819gj 31 12 , , , cord-285829-adz819gj 31 13 showing show VBG cord-285829-adz819gj 31 14 a a DT cord-285829-adz819gj 31 15 huge huge JJ cord-285829-adz819gj 31 16 decline decline NN cord-285829-adz819gj 31 17 in in IN cord-285829-adz819gj 31 18 global global JJ cord-285829-adz819gj 31 19 airline airline NN cord-285829-adz819gj 31 20 stock stock NN cord-285829-adz819gj 31 21 prices price NNS cord-285829-adz819gj 31 22 . . . cord-285829-adz819gj 32 1 This this DT cord-285829-adz819gj 32 2 in in IN cord-285829-adz819gj 32 3 turn turn NN cord-285829-adz819gj 32 4 indicates indicate VBZ cord-285829-adz819gj 32 5 the the DT cord-285829-adz819gj 32 6 overreaction overreaction NN cord-285829-adz819gj 32 7 of of IN cord-285829-adz819gj 32 8 stock stock NN cord-285829-adz819gj 32 9 market market NN cord-285829-adz819gj 32 10 traders trader NNS cord-285829-adz819gj 32 11 . . . cord-285829-adz819gj 33 1 Our -PRON- PRP$ cord-285829-adz819gj 33 2 findings finding NNS cord-285829-adz819gj 33 3 support support VBP cord-285829-adz819gj 33 4 Ding Ding NNP cord-285829-adz819gj 33 5 et et FW cord-285829-adz819gj 33 6 al al NNP cord-285829-adz819gj 33 7 . . . cord-285829-adz819gj 34 1 ( ( -LRB- cord-285829-adz819gj 34 2 2020 2020 CD cord-285829-adz819gj 34 3 ) ) -RRB- cord-285829-adz819gj 34 4 and and CC cord-285829-adz819gj 34 5 Ru Ru NNP cord-285829-adz819gj 34 6 et et FW cord-285829-adz819gj 34 7 al al NNP cord-285829-adz819gj 34 8 . . . cord-285829-adz819gj 35 1 ( ( -LRB- cord-285829-adz819gj 35 2 2020 2020 CD cord-285829-adz819gj 35 3 ) ) -RRB- cord-285829-adz819gj 35 4 , , , cord-285829-adz819gj 35 5 who who WP cord-285829-adz819gj 35 6 document document VBP cord-285829-adz819gj 35 7 that that IN cord-285829-adz819gj 35 8 the the DT cord-285829-adz819gj 35 9 COVID-19 covid-19 JJ cord-285829-adz819gj 35 10 outbreak outbreak NN cord-285829-adz819gj 35 11 economically economically RB cord-285829-adz819gj 35 12 affects affect VBZ cord-285829-adz819gj 35 13 stock stock NN cord-285829-adz819gj 35 14 returns return NNS cord-285829-adz819gj 35 15 . . . cord-285829-adz819gj 36 1 Moreover moreover RB cord-285829-adz819gj 36 2 , , , cord-285829-adz819gj 36 3 traders trader NNS cord-285829-adz819gj 36 4 in in IN cord-285829-adz819gj 36 5 Western western JJ cord-285829-adz819gj 36 6 countries country NNS cord-285829-adz819gj 36 7 seem seem VBP cord-285829-adz819gj 36 8 to to TO cord-285829-adz819gj 36 9 absorb absorb VB cord-285829-adz819gj 36 10 information information NN cord-285829-adz819gj 36 11 faster fast RBR cord-285829-adz819gj 36 12 than than IN cord-285829-adz819gj 36 13 those those DT cord-285829-adz819gj 36 14 in in IN cord-285829-adz819gj 36 15 the the DT cord-285829-adz819gj 36 16 other other JJ cord-285829-adz819gj 36 17 regions region NNS cord-285829-adz819gj 36 18 . . . cord-285829-adz819gj 37 1 This this DT cord-285829-adz819gj 37 2 study study NN cord-285829-adz819gj 37 3 contributes contribute VBZ cord-285829-adz819gj 37 4 to to IN cord-285829-adz819gj 37 5 prior prior JJ cord-285829-adz819gj 37 6 literature literature NN cord-285829-adz819gj 37 7 on on IN cord-285829-adz819gj 37 8 catastrophes catastrophe NNS cord-285829-adz819gj 37 9 in in IN cord-285829-adz819gj 37 10 the the DT cord-285829-adz819gj 37 11 airline airline NN cord-285829-adz819gj 37 12 business business NN cord-285829-adz819gj 37 13 . . . cord-285829-adz819gj 38 1 To to IN cord-285829-adz819gj 38 2 the the DT cord-285829-adz819gj 38 3 best good JJS cord-285829-adz819gj 38 4 of of IN cord-285829-adz819gj 38 5 our -PRON- PRP$ cord-285829-adz819gj 38 6 knowledge knowledge NN cord-285829-adz819gj 38 7 , , , cord-285829-adz819gj 38 8 we -PRON- PRP cord-285829-adz819gj 38 9 are be VBP cord-285829-adz819gj 38 10 among among IN cord-285829-adz819gj 38 11 the the DT cord-285829-adz819gj 38 12 first first JJ cord-285829-adz819gj 38 13 to to TO cord-285829-adz819gj 38 14 explore explore VB cord-285829-adz819gj 38 15 the the DT cord-285829-adz819gj 38 16 impact impact NN cord-285829-adz819gj 38 17 of of IN cord-285829-adz819gj 38 18 this this DT cord-285829-adz819gj 38 19 unprecedented unprecedented JJ cord-285829-adz819gj 38 20 event event NN cord-285829-adz819gj 38 21 on on IN cord-285829-adz819gj 38 22 this this DT cord-285829-adz819gj 38 23 sector sector NN cord-285829-adz819gj 38 24 . . . cord-285829-adz819gj 39 1 In in IN cord-285829-adz819gj 39 2 addition addition NN cord-285829-adz819gj 39 3 , , , cord-285829-adz819gj 39 4 the the DT cord-285829-adz819gj 39 5 sample sample NN cord-285829-adz819gj 39 6 is be VBZ cord-285829-adz819gj 39 7 relatively relatively RB cord-285829-adz819gj 39 8 distinctive distinctive JJ cord-285829-adz819gj 39 9 , , , cord-285829-adz819gj 39 10 including include VBG cord-285829-adz819gj 39 11 major major JJ cord-285829-adz819gj 39 12 listed list VBN cord-285829-adz819gj 39 13 airline airline NN cord-285829-adz819gj 39 14 firms firm NNS cord-285829-adz819gj 39 15 , , , cord-285829-adz819gj 39 16 which which WDT cord-285829-adz819gj 39 17 is be VBZ cord-285829-adz819gj 39 18 different different JJ cord-285829-adz819gj 39 19 from from IN cord-285829-adz819gj 39 20 other other JJ cord-285829-adz819gj 39 21 papers paper NNS cord-285829-adz819gj 39 22 in in IN cord-285829-adz819gj 39 23 transportation transportation NN cord-285829-adz819gj 39 24 finance finance NN cord-285829-adz819gj 39 25 that that WDT cord-285829-adz819gj 39 26 focus focus VBP cord-285829-adz819gj 39 27 on on IN cord-285829-adz819gj 39 28 a a DT cord-285829-adz819gj 39 29 particular particular JJ cord-285829-adz819gj 39 30 country country NN cord-285829-adz819gj 39 31 . . . cord-285829-adz819gj 40 1 It -PRON- PRP cord-285829-adz819gj 40 2 also also RB cord-285829-adz819gj 40 3 sheds shed VBZ cord-285829-adz819gj 40 4 light light NN cord-285829-adz819gj 40 5 on on IN cord-285829-adz819gj 40 6 the the DT cord-285829-adz819gj 40 7 implications implication NNS cord-285829-adz819gj 40 8 for for IN cord-285829-adz819gj 40 9 policymakers policymaker NNS cord-285829-adz819gj 40 10 in in IN cord-285829-adz819gj 40 11 terms term NNS cord-285829-adz819gj 40 12 of of IN cord-285829-adz819gj 40 13 implementing implement VBG cord-285829-adz819gj 40 14 joint joint JJ cord-285829-adz819gj 40 15 actions action NNS cord-285829-adz819gj 40 16 of of IN cord-285829-adz819gj 40 17 fiscal fiscal JJ cord-285829-adz819gj 40 18 and and CC cord-285829-adz819gj 40 19 monetary monetary JJ cord-285829-adz819gj 40 20 policies policy NNS cord-285829-adz819gj 40 21 , , , cord-285829-adz819gj 40 22 such such JJ cord-285829-adz819gj 40 23 as as IN cord-285829-adz819gj 40 24 financial financial JJ cord-285829-adz819gj 40 25 relief relief NN cord-285829-adz819gj 40 26 packages package NNS cord-285829-adz819gj 40 27 and and CC cord-285829-adz819gj 40 28 taxes taxis NNS cord-285829-adz819gj 40 29 in in IN cord-285829-adz819gj 40 30 order order NN cord-285829-adz819gj 40 31 to to TO cord-285829-adz819gj 40 32 alleviate alleviate VB cord-285829-adz819gj 40 33 the the DT cord-285829-adz819gj 40 34 negative negative JJ cord-285829-adz819gj 40 35 economic economic JJ cord-285829-adz819gj 40 36 impact impact NN cord-285829-adz819gj 40 37 of of IN cord-285829-adz819gj 40 38 COVID-19 COVID-19 NNP cord-285829-adz819gj 40 39 on on IN cord-285829-adz819gj 40 40 this this DT cord-285829-adz819gj 40 41 capitalintensive capitalintensive NN cord-285829-adz819gj 40 42 industry industry NN cord-285829-adz819gj 40 43 . . . cord-285829-adz819gj 41 1 The the DT cord-285829-adz819gj 41 2 rest rest NN cord-285829-adz819gj 41 3 of of IN cord-285829-adz819gj 41 4 this this DT cord-285829-adz819gj 41 5 study study NN cord-285829-adz819gj 41 6 is be VBZ cord-285829-adz819gj 41 7 organized organize VBN cord-285829-adz819gj 41 8 as as IN cord-285829-adz819gj 41 9 follows follow NNS cord-285829-adz819gj 41 10 . . . cord-285829-adz819gj 42 1 Section section NN cord-285829-adz819gj 42 2 2 2 CD cord-285829-adz819gj 42 3 describes describe VBZ cord-285829-adz819gj 42 4 the the DT cord-285829-adz819gj 42 5 data datum NNS cord-285829-adz819gj 42 6 and and CC cord-285829-adz819gj 42 7 Section section NN cord-285829-adz819gj 42 8 3 3 CD cord-285829-adz819gj 42 9 discusses discuss VBZ cord-285829-adz819gj 42 10 the the DT cord-285829-adz819gj 42 11 research research NN cord-285829-adz819gj 42 12 methodology methodology NN cord-285829-adz819gj 42 13 . . . cord-285829-adz819gj 43 1 Empirical empirical JJ cord-285829-adz819gj 43 2 results result NNS cord-285829-adz819gj 43 3 and and CC cord-285829-adz819gj 43 4 policy policy NN cord-285829-adz819gj 43 5 discussion discussion NN cord-285829-adz819gj 43 6 are be VBP cord-285829-adz819gj 43 7 presented present VBN cord-285829-adz819gj 43 8 in in IN cord-285829-adz819gj 43 9 Section section NN cord-285829-adz819gj 43 10 4 4 CD cord-285829-adz819gj 43 11 . . . cord-285829-adz819gj 44 1 Section section NN cord-285829-adz819gj 44 2 5 5 CD cord-285829-adz819gj 44 3 provides provide VBZ cord-285829-adz819gj 44 4 the the DT cord-285829-adz819gj 44 5 conclusion conclusion NN cord-285829-adz819gj 44 6 . . . cord-285829-adz819gj 45 1 We -PRON- PRP cord-285829-adz819gj 45 2 select select VBP cord-285829-adz819gj 45 3 active active JJ cord-285829-adz819gj 45 4 firms firm NNS cord-285829-adz819gj 45 5 in in IN cord-285829-adz819gj 45 6 the the DT cord-285829-adz819gj 45 7 air air NNP cord-285829-adz819gj 45 8 transportation transportation NNP cord-285829-adz819gj 45 9 code code NN cord-285829-adz819gj 45 10 ( ( -LRB- cord-285829-adz819gj 45 11 SIC SIC NNP cord-285829-adz819gj 45 12 4512 4512 CD cord-285829-adz819gj 45 13 ) ) -RRB- cord-285829-adz819gj 45 14 , , , cord-285829-adz819gj 45 15 in in IN cord-285829-adz819gj 45 16 particular particular JJ cord-285829-adz819gj 45 17 labeled label VBN cord-285829-adz819gj 45 18 travel travel NN cord-285829-adz819gj 45 19 and and CC cord-285829-adz819gj 45 20 leisure leisure NN cord-285829-adz819gj 45 21 . . . cord-285829-adz819gj 46 1 As as IN cord-285829-adz819gj 46 2 of of IN cord-285829-adz819gj 46 3 April April NNP cord-285829-adz819gj 46 4 2020 2020 CD cord-285829-adz819gj 46 5 , , , cord-285829-adz819gj 46 6 the the DT cord-285829-adz819gj 46 7 initial initial JJ cord-285829-adz819gj 46 8 sample sample NN cord-285829-adz819gj 46 9 includes include VBZ cord-285829-adz819gj 46 10 103 103 CD cord-285829-adz819gj 46 11 listed list VBN cord-285829-adz819gj 46 12 firms firm NNS cord-285829-adz819gj 46 13 around around IN cord-285829-adz819gj 46 14 the the DT cord-285829-adz819gj 46 15 globe globe NN cord-285829-adz819gj 46 16 . . . cord-285829-adz819gj 47 1 However however RB cord-285829-adz819gj 47 2 , , , cord-285829-adz819gj 47 3 as as IN cord-285829-adz819gj 47 4 most most JJS cord-285829-adz819gj 47 5 countries country NNS cord-285829-adz819gj 47 6 have have VBP cord-285829-adz819gj 47 7 only only RB cord-285829-adz819gj 47 8 one one CD cord-285829-adz819gj 47 9 listed list VBN cord-285829-adz819gj 47 10 airline airline NN cord-285829-adz819gj 47 11 firm firm NN cord-285829-adz819gj 47 12 , , , cord-285829-adz819gj 47 13 we -PRON- PRP cord-285829-adz819gj 47 14 decide decide VBP cord-285829-adz819gj 47 15 to to TO cord-285829-adz819gj 47 16 choose choose VB cord-285829-adz819gj 47 17 the the DT cord-285829-adz819gj 47 18 country country NN cord-285829-adz819gj 47 19 with with IN cord-285829-adz819gj 47 20 at at RB cord-285829-adz819gj 47 21 least least RBS cord-285829-adz819gj 47 22 four four CD cord-285829-adz819gj 47 23 listed list VBN cord-285829-adz819gj 47 24 firms firm NNS cord-285829-adz819gj 47 25 as as IN cord-285829-adz819gj 47 26 our -PRON- PRP$ cord-285829-adz819gj 47 27 sample sample NN cord-285829-adz819gj 47 28 setting setting NN cord-285829-adz819gj 47 29 in in IN cord-285829-adz819gj 47 30 order order NN cord-285829-adz819gj 47 31 to to TO cord-285829-adz819gj 47 32 remove remove VB cord-285829-adz819gj 47 33 the the DT cord-285829-adz819gj 47 34 potential potential JJ cord-285829-adz819gj 47 35 bias bias NN cord-285829-adz819gj 47 36 of of IN cord-285829-adz819gj 47 37 a a DT cord-285829-adz819gj 47 38 small small JJ cord-285829-adz819gj 47 39 sample sample NN cord-285829-adz819gj 47 40 . . . cord-285829-adz819gj 48 1 1 1 LS cord-285829-adz819gj 49 1 The the DT cord-285829-adz819gj 49 2 remaining remain VBG cord-285829-adz819gj 49 3 sample sample NN cord-285829-adz819gj 49 4 contains contain VBZ cord-285829-adz819gj 49 5 50 50 CD cord-285829-adz819gj 49 6 firms firm NNS cord-285829-adz819gj 49 7 in in IN cord-285829-adz819gj 49 8 nine nine CD cord-285829-adz819gj 49 9 countries country NNS cord-285829-adz819gj 49 10 , , , cord-285829-adz819gj 49 11 located locate VBN cord-285829-adz819gj 49 12 in in IN cord-285829-adz819gj 49 13 Asia Asia NNP cord-285829-adz819gj 49 14 , , , cord-285829-adz819gj 49 15 Australia Australia NNP cord-285829-adz819gj 49 16 , , , cord-285829-adz819gj 49 17 Europe Europe NNP cord-285829-adz819gj 49 18 , , , cord-285829-adz819gj 49 19 and and CC cord-285829-adz819gj 49 20 North North NNP cord-285829-adz819gj 49 21 America America NNP cord-285829-adz819gj 49 22 . . . cord-285829-adz819gj 50 1 We -PRON- PRP cord-285829-adz819gj 50 2 include include VBP cord-285829-adz819gj 50 3 Chile Chile NNP cord-285829-adz819gj 50 4 and and CC cord-285829-adz819gj 50 5 South South NNP cord-285829-adz819gj 50 6 Africa Africa NNP cord-285829-adz819gj 50 7 as as IN cord-285829-adz819gj 50 8 representatives representative NNS cord-285829-adz819gj 50 9 of of IN cord-285829-adz819gj 50 10 the the DT cord-285829-adz819gj 50 11 remaining remain VBG cord-285829-adz819gj 50 12 continents continent NNS cord-285829-adz819gj 50 13 , , , cord-285829-adz819gj 50 14 although although IN cord-285829-adz819gj 50 15 they -PRON- PRP cord-285829-adz819gj 50 16 have have VBP cord-285829-adz819gj 50 17 only only RB cord-285829-adz819gj 50 18 one one CD cord-285829-adz819gj 50 19 listed list VBN cord-285829-adz819gj 50 20 airline airline NN cord-285829-adz819gj 50 21 firm firm NN cord-285829-adz819gj 50 22 . . . cord-285829-adz819gj 51 1 Thus thus RB cord-285829-adz819gj 51 2 , , , cord-285829-adz819gj 51 3 the the DT cord-285829-adz819gj 51 4 final final JJ cord-285829-adz819gj 51 5 global global JJ cord-285829-adz819gj 51 6 sample sample NN cord-285829-adz819gj 51 7 consists consist VBZ cord-285829-adz819gj 51 8 of of IN cord-285829-adz819gj 51 9 52 52 CD cord-285829-adz819gj 51 10 listed list VBN cord-285829-adz819gj 51 11 firms firm NNS cord-285829-adz819gj 51 12 , , , cord-285829-adz819gj 51 13 2 2 CD cord-285829-adz819gj 51 14 accounting account VBG cord-285829-adz819gj 51 15 for for IN cord-285829-adz819gj 51 16 more more JJR cord-285829-adz819gj 51 17 than than IN cord-285829-adz819gj 51 18 50 50 CD cord-285829-adz819gj 51 19 % % NN cord-285829-adz819gj 51 20 of of IN cord-285829-adz819gj 51 21 the the DT cord-285829-adz819gj 51 22 entire entire JJ cord-285829-adz819gj 51 23 sample sample NN cord-285829-adz819gj 51 24 . . . cord-285829-adz819gj 52 1 The the DT cord-285829-adz819gj 52 2 major major JJ cord-285829-adz819gj 52 3 stock stock NN cord-285829-adz819gj 52 4 market market NN cord-285829-adz819gj 52 5 index index NN cord-285829-adz819gj 52 6 in in IN cord-285829-adz819gj 52 7 each each DT cord-285829-adz819gj 52 8 country country NN cord-285829-adz819gj 52 9 is be VBZ cord-285829-adz819gj 52 10 used use VBN cord-285829-adz819gj 52 11 to to TO cord-285829-adz819gj 52 12 calculate calculate VB cord-285829-adz819gj 52 13 the the DT cord-285829-adz819gj 52 14 market market NN cord-285829-adz819gj 52 15 return return NN cord-285829-adz819gj 52 16 . . . cord-285829-adz819gj 53 1 Stock stock NN cord-285829-adz819gj 53 2 prices price NNS cord-285829-adz819gj 53 3 and and CC cord-285829-adz819gj 53 4 market market NN cord-285829-adz819gj 53 5 prices price NNS cord-285829-adz819gj 53 6 in in IN cord-285829-adz819gj 53 7 local local JJ cord-285829-adz819gj 53 8 currencies currency NNS cord-285829-adz819gj 53 9 are be VBP cord-285829-adz819gj 53 10 obtained obtain VBN cord-285829-adz819gj 53 11 from from IN cord-285829-adz819gj 53 12 DataStream DataStream NNP cord-285829-adz819gj 53 13 . . . cord-285829-adz819gj 54 1 Event event NN cord-285829-adz819gj 54 2 study study NN cord-285829-adz819gj 54 3 suggested suggest VBN cord-285829-adz819gj 54 4 by by IN cord-285829-adz819gj 54 5 Fama Fama NNP cord-285829-adz819gj 54 6 , , , cord-285829-adz819gj 54 7 Fisher Fisher NNP cord-285829-adz819gj 54 8 , , , cord-285829-adz819gj 54 9 Jensen Jensen NNP cord-285829-adz819gj 54 10 , , , cord-285829-adz819gj 54 11 and and CC cord-285829-adz819gj 54 12 Roll Roll NNP cord-285829-adz819gj 54 13 ( ( -LRB- cord-285829-adz819gj 54 14 1969 1969 CD cord-285829-adz819gj 54 15 ) ) -RRB- cord-285829-adz819gj 54 16 is be VBZ cord-285829-adz819gj 54 17 the the DT cord-285829-adz819gj 54 18 main main JJ cord-285829-adz819gj 54 19 methodology methodology NN cord-285829-adz819gj 54 20 employed employ VBN cord-285829-adz819gj 54 21 in in IN cord-285829-adz819gj 54 22 this this DT cord-285829-adz819gj 54 23 research research NN cord-285829-adz819gj 54 24 , , , cord-285829-adz819gj 54 25 which which WDT cord-285829-adz819gj 54 26 is be VBZ cord-285829-adz819gj 54 27 a a DT cord-285829-adz819gj 54 28 common common JJ cord-285829-adz819gj 54 29 methodology methodology NN cord-285829-adz819gj 54 30 in in IN cord-285829-adz819gj 54 31 the the DT cord-285829-adz819gj 54 32 economic economic JJ cord-285829-adz819gj 54 33 and and CC cord-285829-adz819gj 54 34 finance finance NN cord-285829-adz819gj 54 35 literature literature NN cord-285829-adz819gj 54 36 to to TO cord-285829-adz819gj 54 37 investigate investigate VB cord-285829-adz819gj 54 38 the the DT cord-285829-adz819gj 54 39 impact impact NN cord-285829-adz819gj 54 40 of of IN cord-285829-adz819gj 54 41 new new JJ cord-285829-adz819gj 54 42 information information NN cord-285829-adz819gj 54 43 arrival arrival NN cord-285829-adz819gj 54 44 from from IN cord-285829-adz819gj 54 45 a a DT cord-285829-adz819gj 54 46 particular particular JJ cord-285829-adz819gj 54 47 event event NN cord-285829-adz819gj 54 48 on on IN cord-285829-adz819gj 54 49 stock stock NN cord-285829-adz819gj 54 50 prices price NNS cord-285829-adz819gj 54 51 . . . cord-285829-adz819gj 55 1 This this DT cord-285829-adz819gj 55 2 method method NN cord-285829-adz819gj 55 3 is be VBZ cord-285829-adz819gj 55 4 used use VBN cord-285829-adz819gj 55 5 to to TO cord-285829-adz819gj 55 6 test test VB cord-285829-adz819gj 55 7 semi semi JJ cord-285829-adz819gj 55 8 - - JJ cord-285829-adz819gj 55 9 strong strong JJ cord-285829-adz819gj 55 10 form form NN cord-285829-adz819gj 55 11 market market NN cord-285829-adz819gj 55 12 efficiency efficiency NN cord-285829-adz819gj 55 13 3 3 CD cord-285829-adz819gj 55 14 which which WDT cord-285829-adz819gj 55 15 states state VBZ cord-285829-adz819gj 55 16 that that IN cord-285829-adz819gj 55 17 all all DT cord-285829-adz819gj 55 18 publicly publicly RB cord-285829-adz819gj 55 19 relevant relevant JJ cord-285829-adz819gj 55 20 information information NN cord-285829-adz819gj 55 21 is be VBZ cord-285829-adz819gj 55 22 already already RB cord-285829-adz819gj 55 23 incorporated incorporate VBN cord-285829-adz819gj 55 24 in in IN cord-285829-adz819gj 55 25 stock stock NN cord-285829-adz819gj 55 26 prices price NNS cord-285829-adz819gj 55 27 . . . cord-285829-adz819gj 56 1 If if IN cord-285829-adz819gj 56 2 this this DT cord-285829-adz819gj 56 3 efficiency efficiency NN cord-285829-adz819gj 56 4 holds hold VBZ cord-285829-adz819gj 56 5 , , , cord-285829-adz819gj 56 6 stock stock NN cord-285829-adz819gj 56 7 prices price NNS cord-285829-adz819gj 56 8 should should MD cord-285829-adz819gj 56 9 quickly quickly RB cord-285829-adz819gj 56 10 and and CC cord-285829-adz819gj 56 11 immediately immediately RB cord-285829-adz819gj 56 12 reflect reflect VB cord-285829-adz819gj 56 13 public public JJ cord-285829-adz819gj 56 14 information information NN cord-285829-adz819gj 56 15 announcements announcement NNS cord-285829-adz819gj 56 16 . . . cord-285829-adz819gj 57 1 In in IN cord-285829-adz819gj 57 2 other other JJ cord-285829-adz819gj 57 3 words word NNS cord-285829-adz819gj 57 4 , , , cord-285829-adz819gj 57 5 an an DT cord-285829-adz819gj 57 6 announcement announcement NN cord-285829-adz819gj 57 7 can can MD cord-285829-adz819gj 57 8 be be VB cord-285829-adz819gj 57 9 considered consider VBN cord-285829-adz819gj 57 10 as as RB cord-285829-adz819gj 57 11 newly newly RB cord-285829-adz819gj 57 12 relevant relevant JJ cord-285829-adz819gj 57 13 information information NN cord-285829-adz819gj 57 14 to to IN cord-285829-adz819gj 57 15 investors investor NNS cord-285829-adz819gj 57 16 . . . cord-285829-adz819gj 58 1 A a DT cord-285829-adz819gj 58 2 short short JJ cord-285829-adz819gj 58 3 event event NN cord-285829-adz819gj 58 4 window window NN cord-285829-adz819gj 58 5 is be VBZ cord-285829-adz819gj 58 6 usually usually RB cord-285829-adz819gj 58 7 used use VBN cord-285829-adz819gj 58 8 to to TO cord-285829-adz819gj 58 9 mitigate mitigate VB cord-285829-adz819gj 58 10 the the DT cord-285829-adz819gj 58 11 effect effect NN cord-285829-adz819gj 58 12 of of IN cord-285829-adz819gj 58 13 irrelevant irrelevant JJ cord-285829-adz819gj 58 14 information information NN cord-285829-adz819gj 58 15 on on IN cord-285829-adz819gj 58 16 stock stock NN cord-285829-adz819gj 58 17 prices price NNS cord-285829-adz819gj 58 18 . . . cord-285829-adz819gj 59 1 The the DT cord-285829-adz819gj 59 2 common common JJ cord-285829-adz819gj 59 3 approach approach NN cord-285829-adz819gj 59 4 of of IN cord-285829-adz819gj 59 5 event event NN cord-285829-adz819gj 59 6 study study NN cord-285829-adz819gj 59 7 begins begin VBZ cord-285829-adz819gj 59 8 with with IN cord-285829-adz819gj 59 9 a a DT cord-285829-adz819gj 59 10 regression regression NN cord-285829-adz819gj 59 11 of of IN cord-285829-adz819gj 59 12 stock stock NN cord-285829-adz819gj 59 13 returns return NNS cord-285829-adz819gj 59 14 on on IN cord-285829-adz819gj 59 15 the the DT cord-285829-adz819gj 59 16 market market NN cord-285829-adz819gj 59 17 returns return NNS cord-285829-adz819gj 59 18 which which WDT cord-285829-adz819gj 59 19 provides provide VBZ cord-285829-adz819gj 59 20 the the DT cord-285829-adz819gj 59 21 parameters parameter NNS cord-285829-adz819gj 59 22 to to TO cord-285829-adz819gj 59 23 estimate estimate VB cord-285829-adz819gj 59 24 expected expect VBN cord-285829-adz819gj 59 25 stock stock NN cord-285829-adz819gj 59 26 returns return NNS cord-285829-adz819gj 59 27 , , , cord-285829-adz819gj 59 28 which which WDT cord-285829-adz819gj 59 29 are be VBP cord-285829-adz819gj 59 30 believed believe VBN cord-285829-adz819gj 59 31 as as IN cord-285829-adz819gj 59 32 fair fair JJ cord-285829-adz819gj 59 33 values value NNS cord-285829-adz819gj 59 34 . . . cord-285829-adz819gj 60 1 The the DT cord-285829-adz819gj 60 2 abnormal abnormal JJ cord-285829-adz819gj 60 3 returns return NNS cord-285829-adz819gj 60 4 , , , cord-285829-adz819gj 60 5 which which WDT cord-285829-adz819gj 60 6 present present VBP cord-285829-adz819gj 60 7 the the DT cord-285829-adz819gj 60 8 result result NN cord-285829-adz819gj 60 9 of of IN cord-285829-adz819gj 60 10 the the DT cord-285829-adz819gj 60 11 stock stock NN cord-285829-adz819gj 60 12 market market NN cord-285829-adz819gj 60 13 's 's POS cord-285829-adz819gj 60 14 reacting react VBG cord-285829-adz819gj 60 15 to to IN cord-285829-adz819gj 60 16 new new JJ cord-285829-adz819gj 60 17 information information NN cord-285829-adz819gj 60 18 , , , cord-285829-adz819gj 60 19 are be VBP cord-285829-adz819gj 60 20 then then RB cord-285829-adz819gj 60 21 estimated estimate VBN cord-285829-adz819gj 60 22 as as IN cord-285829-adz819gj 60 23 the the DT cord-285829-adz819gj 60 24 difference difference NN cord-285829-adz819gj 60 25 between between IN cord-285829-adz819gj 60 26 the the DT cord-285829-adz819gj 60 27 actual actual JJ cord-285829-adz819gj 60 28 stock stock NN cord-285829-adz819gj 60 29 returns return NNS cord-285829-adz819gj 60 30 and and CC cord-285829-adz819gj 60 31 its -PRON- PRP$ cord-285829-adz819gj 60 32 expected expected JJ cord-285829-adz819gj 60 33 returns return NNS cord-285829-adz819gj 60 34 . . . cord-285829-adz819gj 61 1 If if IN cord-285829-adz819gj 61 2 the the DT cord-285829-adz819gj 61 3 market market NN cord-285829-adz819gj 61 4 is be VBZ cord-285829-adz819gj 61 5 semi semi JJ cord-285829-adz819gj 61 6 - - JJ cord-285829-adz819gj 61 7 strong strong JJ cord-285829-adz819gj 61 8 form form NN cord-285829-adz819gj 61 9 efficient efficient JJ cord-285829-adz819gj 61 10 , , , cord-285829-adz819gj 61 11 abnormal abnormal JJ cord-285829-adz819gj 61 12 returns return NNS cord-285829-adz819gj 61 13 should should MD cord-285829-adz819gj 61 14 be be VB cord-285829-adz819gj 61 15 zero zero CD cord-285829-adz819gj 61 16 , , , cord-285829-adz819gj 61 17 implying imply VBG cord-285829-adz819gj 61 18 that that IN cord-285829-adz819gj 61 19 market market NN cord-285829-adz819gj 61 20 prices price NNS cord-285829-adz819gj 61 21 are be VBP cord-285829-adz819gj 61 22 the the DT cord-285829-adz819gj 61 23 same same JJ cord-285829-adz819gj 61 24 as as IN cord-285829-adz819gj 61 25 fair fair JJ cord-285829-adz819gj 61 26 value value NN cord-285829-adz819gj 61 27 . . . cord-285829-adz819gj 62 1 This this DT cord-285829-adz819gj 62 2 approach approach NN cord-285829-adz819gj 62 3 has have VBZ cord-285829-adz819gj 62 4 recently recently RB cord-285829-adz819gj 62 5 gained gain VBN cord-285829-adz819gj 62 6 attention attention NN cord-285829-adz819gj 62 7 within within IN cord-285829-adz819gj 62 8 the the DT cord-285829-adz819gj 62 9 global global JJ cord-285829-adz819gj 62 10 airline airline NN cord-285829-adz819gj 62 11 industry industry NN cord-285829-adz819gj 62 12 ( ( -LRB- cord-285829-adz819gj 62 13 e.g. e.g. RB cord-285829-adz819gj 62 14 Gillen Gillen NNP cord-285829-adz819gj 62 15 and and CC cord-285829-adz819gj 62 16 Lall Lall NNP cord-285829-adz819gj 62 17 , , , cord-285829-adz819gj 62 18 2003 2003 CD cord-285829-adz819gj 62 19 ; ; : cord-285829-adz819gj 62 20 Park Park NNP cord-285829-adz819gj 62 21 , , , cord-285829-adz819gj 62 22 2004 2004 CD cord-285829-adz819gj 62 23 ; ; : cord-285829-adz819gj 62 24 Gong Gong NNP cord-285829-adz819gj 62 25 et et FW cord-285829-adz819gj 62 26 al al NNP cord-285829-adz819gj 62 27 . . NNP cord-285829-adz819gj 62 28 , , , cord-285829-adz819gj 62 29 2006 2006 CD cord-285829-adz819gj 62 30 ; ; . cord-285829-adz819gj 63 1 Gong Gong NNP cord-285829-adz819gj 63 2 et et NNP cord-285829-adz819gj 63 3 al al NNP cord-285829-adz819gj 63 4 . . NNP cord-285829-adz819gj 63 5 , , , cord-285829-adz819gj 63 6 2008 2008 CD cord-285829-adz819gj 63 7 , , , cord-285829-adz819gj 63 8 Ho Ho NNP cord-285829-adz819gj 63 9 et et FW cord-285829-adz819gj 63 10 al al NNP cord-285829-adz819gj 63 11 . . NNP cord-285829-adz819gj 63 12 , , , cord-285829-adz819gj 63 13 2013 2013 CD cord-285829-adz819gj 63 14 . . . cord-285829-adz819gj 64 1 We -PRON- PRP cord-285829-adz819gj 64 2 select select VBP cord-285829-adz819gj 64 3 three three CD cord-285829-adz819gj 64 4 important important JJ cord-285829-adz819gj 64 5 events event NNS cord-285829-adz819gj 64 6 representing represent VBG cord-285829-adz819gj 64 7 the the DT cord-285829-adz819gj 64 8 development development NN cord-285829-adz819gj 64 9 of of IN cord-285829-adz819gj 64 10 the the DT cord-285829-adz819gj 64 11 COVID-19 COVID-19 NNP cord-285829-adz819gj 64 12 pandemic pandemic NN cord-285829-adz819gj 64 13 , , , cord-285829-adz819gj 64 14 which which WDT cord-285829-adz819gj 64 15 are be VBP cord-285829-adz819gj 64 16 ( ( -LRB- cord-285829-adz819gj 64 17 1 1 LS cord-285829-adz819gj 64 18 ) ) -RRB- cord-285829-adz819gj 64 19 the the DT cord-285829-adz819gj 64 20 first first JJ cord-285829-adz819gj 64 21 infected infected JJ cord-285829-adz819gj 64 22 case case NN cord-285829-adz819gj 64 23 outside outside IN cord-285829-adz819gj 64 24 China China NNP cord-285829-adz819gj 64 25 reported report VBD cord-285829-adz819gj 64 26 in in IN cord-285829-adz819gj 64 27 Thailand Thailand NNP cord-285829-adz819gj 64 28 ( ( -LRB- cord-285829-adz819gj 64 29 Event event NN cord-285829-adz819gj 64 30 1 1 CD cord-285829-adz819gj 64 31 : : : cord-285829-adz819gj 64 32 January January NNP cord-285829-adz819gj 64 33 13 13 CD cord-285829-adz819gj 64 34 , , , cord-285829-adz819gj 64 35 2020 2020 CD cord-285829-adz819gj 64 36 ) ) -RRB- cord-285829-adz819gj 64 37 ; ; : cord-285829-adz819gj 64 38 ( ( -LRB- cord-285829-adz819gj 64 39 2 2 LS cord-285829-adz819gj 64 40 ) ) -RRB- cord-285829-adz819gj 64 41 the the DT cord-285829-adz819gj 64 42 outbreak outbreak NN cord-285829-adz819gj 64 43 in in IN cord-285829-adz819gj 64 44 Italy Italy NNP cord-285829-adz819gj 65 1 ( ( -LRB- cord-285829-adz819gj 65 2 Event event NN cord-285829-adz819gj 65 3 2 2 CD cord-285829-adz819gj 65 4 : : : cord-285829-adz819gj 65 5 February February NNP cord-285829-adz819gj 65 6 21 21 CD cord-285829-adz819gj 65 7 , , , cord-285829-adz819gj 65 8 2020 2020 CD cord-285829-adz819gj 65 9 ) ) -RRB- cord-285829-adz819gj 65 10 ; ; : cord-285829-adz819gj 65 11 and and CC cord-285829-adz819gj 65 12 ( ( -LRB- cord-285829-adz819gj 65 13 3 3 LS cord-285829-adz819gj 65 14 ) ) -RRB- cord-285829-adz819gj 65 15 the the DT cord-285829-adz819gj 65 16 declaration declaration NN cord-285829-adz819gj 65 17 by by IN cord-285829-adz819gj 65 18 WHO WHO NNP cord-285829-adz819gj 65 19 on on IN cord-285829-adz819gj 65 20 the the DT cord-285829-adz819gj 65 21 global global JJ cord-285829-adz819gj 65 22 pandemic pandemic NN cord-285829-adz819gj 65 23 outbreak outbreak NN cord-285829-adz819gj 65 24 and and CC cord-285829-adz819gj 65 25 the the DT cord-285829-adz819gj 65 26 announcement announcement NN cord-285829-adz819gj 65 27 of of IN cord-285829-adz819gj 65 28 President President NNP cord-285829-adz819gj 65 29 Trump Trump NNP cord-285829-adz819gj 65 30 to to TO cord-285829-adz819gj 65 31 ban ban VB cord-285829-adz819gj 65 32 travelers traveler NNS cord-285829-adz819gj 65 33 from from IN cord-285829-adz819gj 65 34 26 26 CD cord-285829-adz819gj 65 35 European european JJ cord-285829-adz819gj 65 36 countries country NNS cord-285829-adz819gj 65 37 ( ( -LRB- cord-285829-adz819gj 65 38 Event event NN cord-285829-adz819gj 65 39 3 3 CD cord-285829-adz819gj 65 40 : : : cord-285829-adz819gj 65 41 March March NNP cord-285829-adz819gj 65 42 11 11 CD cord-285829-adz819gj 65 43 , , , cord-285829-adz819gj 65 44 2020 2020 CD cord-285829-adz819gj 65 45 ) ) -RRB- cord-285829-adz819gj 65 46 . . . cord-285829-adz819gj 66 1 The the DT cord-285829-adz819gj 66 2 ultimate ultimate JJ cord-285829-adz819gj 66 3 goal goal NN cord-285829-adz819gj 66 4 is be VBZ cord-285829-adz819gj 66 5 to to TO cord-285829-adz819gj 66 6 examine examine VB cord-285829-adz819gj 66 7 whether whether IN cord-285829-adz819gj 66 8 abnormal abnormal JJ cord-285829-adz819gj 66 9 returns return NNS cord-285829-adz819gj 66 10 exist exist VBP cord-285829-adz819gj 66 11 surrounding surround VBG cord-285829-adz819gj 66 12 the the DT cord-285829-adz819gj 66 13 determined determined JJ cord-285829-adz819gj 66 14 event event NN cord-285829-adz819gj 66 15 periods period NNS cord-285829-adz819gj 66 16 . . . cord-285829-adz819gj 67 1 The the DT cord-285829-adz819gj 67 2 results result NNS cord-285829-adz819gj 67 3 imply imply VBP cord-285829-adz819gj 67 4 time time NN cord-285829-adz819gj 67 5 - - HYPH cord-285829-adz819gj 67 6 varying vary VBG cord-285829-adz819gj 67 7 behaviors behavior NNS cord-285829-adz819gj 67 8 of of IN cord-285829-adz819gj 67 9 the the DT cord-285829-adz819gj 67 10 participants participant NNS cord-285829-adz819gj 67 11 in in IN cord-285829-adz819gj 67 12 stock stock NN cord-285829-adz819gj 67 13 markets market NNS cord-285829-adz819gj 67 14 in in IN cord-285829-adz819gj 67 15 the the DT cord-285829-adz819gj 67 16 global global JJ cord-285829-adz819gj 67 17 airline airline NN cord-285829-adz819gj 67 18 industry industry NN cord-285829-adz819gj 67 19 . . . cord-285829-adz819gj 68 1 We -PRON- PRP cord-285829-adz819gj 68 2 begin begin VBP cord-285829-adz819gj 68 3 with with IN cord-285829-adz819gj 68 4 the the DT cord-285829-adz819gj 68 5 market market NN cord-285829-adz819gj 68 6 model model NN cord-285829-adz819gj 68 7 as as IN cord-285829-adz819gj 68 8 seen see VBN cord-285829-adz819gj 68 9 below below RB cord-285829-adz819gj 68 10 . . . cord-285829-adz819gj 69 1 where where WRB cord-285829-adz819gj 69 2 ܴ ܴ NN cord-285829-adz819gj 69 3 , , , cord-285829-adz819gj 69 4 ௧ ௧ CD cord-285829-adz819gj 69 5 and and CC cord-285829-adz819gj 69 6 ܴ ܴ NN cord-285829-adz819gj 69 7 , , , cord-285829-adz819gj 69 8 ௧ ௧ NNP cord-285829-adz819gj 69 9 are be VBP cord-285829-adz819gj 69 10 daily daily JJ cord-285829-adz819gj 69 11 returns return NNS cord-285829-adz819gj 69 12 of of IN cord-285829-adz819gj 69 13 stock stock NN cord-285829-adz819gj 69 14 ݅ ݅ NNS cord-285829-adz819gj 69 15 and and CC cord-285829-adz819gj 69 16 daily daily JJ cord-285829-adz819gj 69 17 market market NN cord-285829-adz819gj 69 18 index index NN cord-285829-adz819gj 69 19 returns return NNS cord-285829-adz819gj 69 20 on on IN cord-285829-adz819gj 69 21 stock stock NN cord-285829-adz819gj 69 22 market market NN cord-285829-adz819gj 69 23 ݉ ݉ VBZ cord-285829-adz819gj 69 24 at at IN cord-285829-adz819gj 69 25 time time NN cord-285829-adz819gj 69 26 ‫,ݐ‬ ‫,ݐ‬ ADD cord-285829-adz819gj 69 27 respectively respectively RB cord-285829-adz819gj 69 28 , , , cord-285829-adz819gj 69 29 which which WDT cord-285829-adz819gj 69 30 is be VBZ cord-285829-adz819gj 69 31 the the DT cord-285829-adz819gj 69 32 difference difference NN cord-285829-adz819gj 69 33 in in IN cord-285829-adz819gj 69 34 two two CD cord-285829-adz819gj 69 35 consecutive consecutive JJ cord-285829-adz819gj 69 36 prices price NNS cord-285829-adz819gj 69 37 . . . cord-285829-adz819gj 70 1 ‫ݑ‬ ‫ݑ‬ NNP cord-285829-adz819gj 70 2 , , , cord-285829-adz819gj 70 3 ௧ ௧ NNP cord-285829-adz819gj 70 4 is be VBZ cord-285829-adz819gj 70 5 the the DT cord-285829-adz819gj 70 6 residual residual NN cord-285829-adz819gj 70 7 of of IN cord-285829-adz819gj 70 8 stock stock NN cord-285829-adz819gj 70 9 i i PRP cord-285829-adz819gj 70 10 at at IN cord-285829-adz819gj 70 11 time time NN cord-285829-adz819gj 70 12 t t NNP cord-285829-adz819gj 70 13 , , , cord-285829-adz819gj 70 14 which which WDT cord-285829-adz819gj 70 15 is be VBZ cord-285829-adz819gj 70 16 independent independent JJ cord-285829-adz819gj 70 17 and and CC cord-285829-adz819gj 70 18 identically identically RB cord-285829-adz819gj 70 19 distributed distribute VBN cord-285829-adz819gj 70 20 . . . cord-285829-adz819gj 71 1 Next next RB cord-285829-adz819gj 71 2 , , , cord-285829-adz819gj 71 3 we -PRON- PRP cord-285829-adz819gj 71 4 estimate estimate VBP cord-285829-adz819gj 71 5 the the DT cord-285829-adz819gj 71 6 parameters parameter NNS cord-285829-adz819gj 71 7 of of IN cord-285829-adz819gj 71 8 the the DT cord-285829-adz819gj 71 9 market market NN cord-285829-adz819gj 71 10 model model NN cord-285829-adz819gj 71 11 during during IN cord-285829-adz819gj 71 12 the the DT cord-285829-adz819gj 71 13 estimation estimation NN cord-285829-adz819gj 71 14 window window NN cord-285829-adz819gj 71 15 in in IN cord-285829-adz819gj 71 16 2019 2019 CD cord-285829-adz819gj 71 17 . . . cord-285829-adz819gj 72 1 The the DT cord-285829-adz819gj 72 2 abnormal abnormal JJ cord-285829-adz819gj 72 3 return return NN cord-285829-adz819gj 72 4 of of IN cord-285829-adz819gj 72 5 stock stock NN cord-285829-adz819gj 72 6 ݅ ݅ NNS cord-285829-adz819gj 72 7 at at IN cord-285829-adz819gj 72 8 time time NN cord-285829-adz819gj 72 9 ‫ݐ‬ ‫ݐ‬ NNP cord-285829-adz819gj 73 1 ‫ܴܣ(‬ ‫ܴܣ(‬ NN cord-285829-adz819gj 73 2 , , , cord-285829-adz819gj 73 3 ௧ ௧ LS cord-285829-adz819gj 73 4 ) ) -RRB- cord-285829-adz819gj 73 5 is be VBZ cord-285829-adz819gj 73 6 where where WRB cord-285829-adz819gj 73 7 ߙ ߙ NN cord-285829-adz819gj 73 8 ො ො NNPS cord-285829-adz819gj 73 9 and and CC cord-285829-adz819gj 73 10 ߚ ߚ DT cord-285829-adz819gj 73 11 መ መ NN cord-285829-adz819gj 73 12 are be VBP cord-285829-adz819gj 73 13 the the DT cord-285829-adz819gj 73 14 estimated estimate VBN cord-285829-adz819gj 73 15 parameters parameter NNS cord-285829-adz819gj 73 16 of of IN cord-285829-adz819gj 73 17 stock stock NN cord-285829-adz819gj 73 18 i i PRP cord-285829-adz819gj 73 19 from from IN cord-285829-adz819gj 73 20 Equation Equation NNP cord-285829-adz819gj 73 21 ( ( -LRB- cord-285829-adz819gj 73 22 1 1 CD cord-285829-adz819gj 73 23 ) ) -RRB- cord-285829-adz819gj 73 24 . . . cord-285829-adz819gj 74 1 ‫ܴܣ‬ ‫ܴܣ‬ NNP cord-285829-adz819gj 74 2 , , , cord-285829-adz819gj 74 3 ௧ ௧ NNP cord-285829-adz819gj 74 4 captures capture VBZ cord-285829-adz819gj 74 5 the the DT cord-285829-adz819gj 74 6 impact impact NN cord-285829-adz819gj 74 7 of of IN cord-285829-adz819gj 74 8 the the DT cord-285829-adz819gj 74 9 event event NN cord-285829-adz819gj 74 10 when when WRB cord-285829-adz819gj 74 11 the the DT cord-285829-adz819gj 74 12 information information NN cord-285829-adz819gj 74 13 of of IN cord-285829-adz819gj 74 14 the the DT cord-285829-adz819gj 74 15 three three CD cord-285829-adz819gj 74 16 above above RB cord-285829-adz819gj 74 17 mentioned mention VBN cord-285829-adz819gj 74 18 events event NNS cord-285829-adz819gj 74 19 are be VBP cord-285829-adz819gj 74 20 announced announce VBN cord-285829-adz819gj 74 21 to to IN cord-285829-adz819gj 74 22 the the DT cord-285829-adz819gj 74 23 markets market NNS cord-285829-adz819gj 74 24 . . . cord-285829-adz819gj 75 1 If if IN cord-285829-adz819gj 75 2 ‫ܴܣ‬ ‫ܴܣ‬ NN cord-285829-adz819gj 75 3 , , , cord-285829-adz819gj 75 4 ௧ ௧ NNP cord-285829-adz819gj 75 5 are be VBP cord-285829-adz819gj 75 6 significantly significantly RB cord-285829-adz819gj 75 7 different different JJ cord-285829-adz819gj 75 8 from from IN cord-285829-adz819gj 75 9 zero zero CD cord-285829-adz819gj 75 10 , , , cord-285829-adz819gj 75 11 it -PRON- PRP cord-285829-adz819gj 75 12 implies imply VBZ cord-285829-adz819gj 75 13 that that IN cord-285829-adz819gj 75 14 market market NN cord-285829-adz819gj 75 15 value value NN cord-285829-adz819gj 75 16 deviates deviate VBZ cord-285829-adz819gj 75 17 from from IN cord-285829-adz819gj 75 18 fair fair JJ cord-285829-adz819gj 75 19 value value NN cord-285829-adz819gj 75 20 . . . cord-285829-adz819gj 76 1 ‫ܴܣܥ‬ ‫ܴܣܥ‬ NNP cord-285829-adz819gj 76 2 , , , cord-285829-adz819gj 76 3 ( ( -LRB- cord-285829-adz819gj 76 4 ௧ ௧ NNP cord-285829-adz819gj 76 5 భ భ NN cord-285829-adz819gj 76 6 , , , cord-285829-adz819gj 76 7 ௧ ௧ NNP cord-285829-adz819gj 76 8 మ మ NN cord-285829-adz819gj 76 9 ) ) -RRB- cord-285829-adz819gj 76 10 is be VBZ cord-285829-adz819gj 76 11 accumulated accumulate VBN cord-285829-adz819gj 76 12 abnormal abnormal JJ cord-285829-adz819gj 76 13 return return NN cord-285829-adz819gj 76 14 of of IN cord-285829-adz819gj 76 15 stock stock NN cord-285829-adz819gj 76 16 i i PRP cord-285829-adz819gj 76 17 during during IN cord-285829-adz819gj 76 18 period period NN cord-285829-adz819gj 76 19 t t NNP cord-285829-adz819gj 76 20 1 1 CD cord-285829-adz819gj 76 21 and and CC cord-285829-adz819gj 76 22 t t NNP cord-285829-adz819gj 76 23 2 2 CD cord-285829-adz819gj 76 24 . . . cord-285829-adz819gj 77 1 We -PRON- PRP cord-285829-adz819gj 77 2 investigate investigate VBP cord-285829-adz819gj 77 3 whether whether IN cord-285829-adz819gj 77 4 the the DT cord-285829-adz819gj 77 5 market market NN cord-285829-adz819gj 77 6 value value NN cord-285829-adz819gj 77 7 deviates deviate VBZ cord-285829-adz819gj 77 8 from from IN cord-285829-adz819gj 77 9 the the DT cord-285829-adz819gj 77 10 fair fair JJ cord-285829-adz819gj 77 11 value value NN cord-285829-adz819gj 77 12 by by IN cord-285829-adz819gj 77 13 testing test VBG cord-285829-adz819gj 77 14 if if IN cord-285829-adz819gj 77 15 ‫ܴܣܥ‬ ‫ܴܣܥ‬ NNP cord-285829-adz819gj 77 16 , , , cord-285829-adz819gj 77 17 ( ( -LRB- cord-285829-adz819gj 77 18 ௧ ௧ NNP cord-285829-adz819gj 77 19 భ భ NN cord-285829-adz819gj 77 20 , , , cord-285829-adz819gj 77 21 ௧ ௧ NNP cord-285829-adz819gj 77 22 మ మ NN cord-285829-adz819gj 77 23 ) ) -RRB- cord-285829-adz819gj 77 24 is be VBZ cord-285829-adz819gj 77 25 significantly significantly RB cord-285829-adz819gj 77 26 different different JJ cord-285829-adz819gj 77 27 from from IN cord-285829-adz819gj 77 28 zero zero CD cord-285829-adz819gj 77 29 . . . cord-285829-adz819gj 78 1 Negative negative JJ cord-285829-adz819gj 78 2 or or CC cord-285829-adz819gj 78 3 positive positive JJ cord-285829-adz819gj 78 4 ‫ܴܣܥ‬ ‫ܴܣܥ‬ NNP cord-285829-adz819gj 78 5 , , , cord-285829-adz819gj 78 6 ( ( -LRB- cord-285829-adz819gj 78 7 ௧ ௧ NNP cord-285829-adz819gj 78 8 భ భ NN cord-285829-adz819gj 78 9 , , , cord-285829-adz819gj 78 10 ௧ ௧ NNP cord-285829-adz819gj 78 11 మ మ NN cord-285829-adz819gj 78 12 ) ) -RRB- cord-285829-adz819gj 78 13 implies imply VBZ cord-285829-adz819gj 78 14 that that IN cord-285829-adz819gj 78 15 stock stock NN cord-285829-adz819gj 78 16 prices price NNS cord-285829-adz819gj 78 17 deviate deviate VBP cord-285829-adz819gj 78 18 from from IN cord-285829-adz819gj 78 19 their -PRON- PRP$ cord-285829-adz819gj 78 20 fair fair JJ cord-285829-adz819gj 78 21 value value NN cord-285829-adz819gj 78 22 during during IN cord-285829-adz819gj 78 23 the the DT cord-285829-adz819gj 78 24 examined examine VBN cord-285829-adz819gj 78 25 period period NN cord-285829-adz819gj 78 26 when when WRB cord-285829-adz819gj 78 27 the the DT cord-285829-adz819gj 78 28 market market NN cord-285829-adz819gj 78 29 responds respond VBZ cord-285829-adz819gj 78 30 to to IN cord-285829-adz819gj 78 31 the the DT cord-285829-adz819gj 78 32 new new JJ cord-285829-adz819gj 78 33 information information NN cord-285829-adz819gj 78 34 . . . cord-285829-adz819gj 79 1 The the DT cord-285829-adz819gj 79 2 cumulative cumulative JJ cord-285829-adz819gj 79 3 abnormal abnormal JJ cord-285829-adz819gj 79 4 return return NN cord-285829-adz819gj 79 5 of of IN cord-285829-adz819gj 79 6 stock stock NN cord-285829-adz819gj 79 7 i i PRP cord-285829-adz819gj 79 8 from from IN cord-285829-adz819gj 79 9 time time NN cord-285829-adz819gj 79 10 t t NNP cord-285829-adz819gj 79 11 1 1 CD cord-285829-adz819gj 79 12 to to IN cord-285829-adz819gj 79 13 t t NN cord-285829-adz819gj 79 14 2 2 CD cord-285829-adz819gj 79 15 ‫ܴܣܥ(‬ ‫ܴܣܥ(‬ NNP cord-285829-adz819gj 79 16 , , , cord-285829-adz819gj 79 17 ( ( -LRB- cord-285829-adz819gj 79 18 ௧ ௧ NNP cord-285829-adz819gj 79 19 భ భ NN cord-285829-adz819gj 79 20 , , , cord-285829-adz819gj 79 21 ௧ ௧ NNP cord-285829-adz819gj 79 22 మ మ NN cord-285829-adz819gj 79 23 ) ) -RRB- cord-285829-adz819gj 79 24 ) ) -RRB- cord-285829-adz819gj 79 25 is be VBZ cord-285829-adz819gj 79 26 defined define VBN cord-285829-adz819gj 79 27 as as IN cord-285829-adz819gj 79 28 We -PRON- PRP cord-285829-adz819gj 79 29 use use VBP cord-285829-adz819gj 79 30 an an DT cord-285829-adz819gj 79 31 event event NN cord-285829-adz819gj 79 32 window window NN cord-285829-adz819gj 79 33 of of IN cord-285829-adz819gj 79 34 the the DT cord-285829-adz819gj 79 35 period period NN cord-285829-adz819gj 79 36 from from IN cord-285829-adz819gj 79 37 5 5 CD cord-285829-adz819gj 79 38 days day NNS cord-285829-adz819gj 79 39 before before IN cord-285829-adz819gj 79 40 each each DT cord-285829-adz819gj 79 41 event event NN cord-285829-adz819gj 79 42 date date NN cord-285829-adz819gj 79 43 to to IN cord-285829-adz819gj 79 44 5 5 CD cord-285829-adz819gj 79 45 days day NNS cord-285829-adz819gj 79 46 after after IN cord-285829-adz819gj 79 47 the the DT cord-285829-adz819gj 79 48 event event NN cord-285829-adz819gj 79 49 date date NN cord-285829-adz819gj 79 50 [ [ -LRB- cord-285829-adz819gj 79 51 -5,+5 -5,+5 NNP cord-285829-adz819gj 79 52 ] ] -RRB- cord-285829-adz819gj 79 53 . . . cord-285829-adz819gj 80 1 The the DT cord-285829-adz819gj 80 2 event event NN cord-285829-adz819gj 80 3 window window NN cord-285829-adz819gj 80 4 [ [ -LRB- cord-285829-adz819gj 80 5 -5,+5 -5,+5 NNP cord-285829-adz819gj 80 6 ] ] -RRB- cord-285829-adz819gj 80 7 is be VBZ cord-285829-adz819gj 80 8 selected select VBN cord-285829-adz819gj 80 9 to to TO cord-285829-adz819gj 80 10 reflect reflect VB cord-285829-adz819gj 80 11 the the DT cord-285829-adz819gj 80 12 efficiency efficiency NN cord-285829-adz819gj 80 13 of of IN cord-285829-adz819gj 80 14 financial financial JJ cord-285829-adz819gj 80 15 markets market NNS cord-285829-adz819gj 80 16 . . . cord-285829-adz819gj 81 1 Prior prior JJ cord-285829-adz819gj 81 2 literature literature NN cord-285829-adz819gj 81 3 in in IN cord-285829-adz819gj 81 4 transportation transportation NN cord-285829-adz819gj 81 5 and and CC cord-285829-adz819gj 81 6 logistics logistics NN cord-285829-adz819gj 81 7 finance finance NN cord-285829-adz819gj 81 8 determines determine VBZ cord-285829-adz819gj 81 9 an an DT cord-285829-adz819gj 81 10 event event NN cord-285829-adz819gj 81 11 window window NN cord-285829-adz819gj 81 12 no no RB cord-285829-adz819gj 81 13 longer long RBR cord-285829-adz819gj 81 14 than than IN cord-285829-adz819gj 81 15 10 10 CD cord-285829-adz819gj 81 16 days day NNS cord-285829-adz819gj 81 17 ( ( -LRB- cord-285829-adz819gj 81 18 Park Park NNP cord-285829-adz819gj 81 19 , , , cord-285829-adz819gj 81 20 2004 2004 CD cord-285829-adz819gj 81 21 ; ; : cord-285829-adz819gj 81 22 Gong Gong NNP cord-285829-adz819gj 81 23 et et FW cord-285829-adz819gj 81 24 al al NNP cord-285829-adz819gj 81 25 . . NNP cord-285829-adz819gj 81 26 , , , cord-285829-adz819gj 81 27 2006 2006 CD cord-285829-adz819gj 81 28 ; ; . cord-285829-adz819gj 82 1 Gong Gong NNP cord-285829-adz819gj 82 2 et et NNP cord-285829-adz819gj 82 3 al al NNP cord-285829-adz819gj 82 4 . . NNP cord-285829-adz819gj 82 5 , , , cord-285829-adz819gj 82 6 2008 2008 CD cord-285829-adz819gj 82 7 ) ) -RRB- cord-285829-adz819gj 82 8 . . . cord-285829-adz819gj 83 1 Moreover moreover RB cord-285829-adz819gj 83 2 , , , cord-285829-adz819gj 83 3 we -PRON- PRP cord-285829-adz819gj 83 4 choose choose VBP cord-285829-adz819gj 83 5 the the DT cord-285829-adz819gj 83 6 short short JJ cord-285829-adz819gj 83 7 event event NN cord-285829-adz819gj 83 8 window window NN cord-285829-adz819gj 83 9 as as IN cord-285829-adz819gj 83 10 each each DT cord-285829-adz819gj 83 11 event event NN cord-285829-adz819gj 83 12 is be VBZ cord-285829-adz819gj 83 13 close close JJ cord-285829-adz819gj 83 14 to to IN cord-285829-adz819gj 83 15 one one CD cord-285829-adz819gj 83 16 another another DT cord-285829-adz819gj 83 17 . . . cord-285829-adz819gj 84 1 Therefore therefore RB cord-285829-adz819gj 84 2 , , , cord-285829-adz819gj 84 3 we -PRON- PRP cord-285829-adz819gj 84 4 can can MD cord-285829-adz819gj 84 5 separate separate VB cord-285829-adz819gj 84 6 the the DT cord-285829-adz819gj 84 7 effect effect NN cord-285829-adz819gj 84 8 of of IN cord-285829-adz819gj 84 9 one one CD cord-285829-adz819gj 84 10 event event NN cord-285829-adz819gj 84 11 from from IN cord-285829-adz819gj 84 12 the the DT cord-285829-adz819gj 84 13 effects effect NNS cord-285829-adz819gj 84 14 of of IN cord-285829-adz819gj 84 15 another another DT cord-285829-adz819gj 84 16 event event NN cord-285829-adz819gj 84 17 to to TO cord-285829-adz819gj 84 18 alleviate alleviate VB cord-285829-adz819gj 84 19 confounding confounding JJ cord-285829-adz819gj 84 20 effects effect NNS cord-285829-adz819gj 84 21 ( ( -LRB- cord-285829-adz819gj 84 22 McWilliams McWilliams NNP cord-285829-adz819gj 84 23 and and CC cord-285829-adz819gj 84 24 Siegel Siegel NNP cord-285829-adz819gj 84 25 , , , cord-285829-adz819gj 84 26 1997 1997 CD cord-285829-adz819gj 84 27 ) ) -RRB- cord-285829-adz819gj 84 28 . . . cord-285829-adz819gj 85 1 Further further RB cord-285829-adz819gj 85 2 , , , cord-285829-adz819gj 85 3 a a DT cord-285829-adz819gj 85 4 long long JJ cord-285829-adz819gj 85 5 event event NN cord-285829-adz819gj 85 6 window window NN cord-285829-adz819gj 85 7 can can MD cord-285829-adz819gj 85 8 reduce reduce VB cord-285829-adz819gj 85 9 the the DT cord-285829-adz819gj 85 10 power power NN cord-285829-adz819gj 85 11 of of IN cord-285829-adz819gj 85 12 statistics statistic NNS cord-285829-adz819gj 85 13 Warner Warner NNP cord-285829-adz819gj 85 14 , , , cord-285829-adz819gj 85 15 1980 1980 CD cord-285829-adz819gj 85 16 , , , cord-285829-adz819gj 85 17 1985 1985 CD cord-285829-adz819gj 85 18 ) ) -RRB- cord-285829-adz819gj 85 19 . . . cord-285829-adz819gj 86 1 We -PRON- PRP cord-285829-adz819gj 86 2 conclude conclude VBP cord-285829-adz819gj 86 3 that that IN cord-285829-adz819gj 86 4 during during IN cord-285829-adz819gj 86 5 the the DT cord-285829-adz819gj 86 6 high high JJ cord-285829-adz819gj 86 7 uncertainty uncertainty NN cord-285829-adz819gj 86 8 of of IN cord-285829-adz819gj 86 9 the the DT cord-285829-adz819gj 86 10 COVID-19 COVID-19 NNP cord-285829-adz819gj 86 11 pandemic pandemic NN cord-285829-adz819gj 86 12 , , , cord-285829-adz819gj 86 13 investors investor NNS cord-285829-adz819gj 86 14 change change VBP cord-285829-adz819gj 86 15 their -PRON- PRP$ cord-285829-adz819gj 86 16 trading trading NN cord-285829-adz819gj 86 17 behaviors behavior NNS cord-285829-adz819gj 86 18 given give VBN cord-285829-adz819gj 86 19 the the DT cord-285829-adz819gj 86 20 arrival arrival NN cord-285829-adz819gj 86 21 of of IN cord-285829-adz819gj 86 22 new new JJ cord-285829-adz819gj 86 23 information information NN cord-285829-adz819gj 86 24 ; ; : cord-285829-adz819gj 86 25 however however RB cord-285829-adz819gj 86 26 , , , cord-285829-adz819gj 86 27 they -PRON- PRP cord-285829-adz819gj 86 28 sometimes sometimes RB cord-285829-adz819gj 86 29 do do VBP cord-285829-adz819gj 86 30 not not RB cord-285829-adz819gj 86 31 react react VB cord-285829-adz819gj 86 32 reasonably reasonably RB cord-285829-adz819gj 86 33 or or CC cord-285829-adz819gj 86 34 logically logically RB cord-285829-adz819gj 86 35 , , , cord-285829-adz819gj 86 36 causing cause VBG cord-285829-adz819gj 86 37 a a DT cord-285829-adz819gj 86 38 problem problem NN cord-285829-adz819gj 86 39 of of IN cord-285829-adz819gj 86 40 underreaction underreaction NN cord-285829-adz819gj 86 41 and and CC cord-285829-adz819gj 86 42 overreaction overreaction NN cord-285829-adz819gj 86 43 . . . cord-285829-adz819gj 87 1 Importantly importantly RB cord-285829-adz819gj 87 2 , , , cord-285829-adz819gj 87 3 during during IN cord-285829-adz819gj 87 4 this this DT cord-285829-adz819gj 87 5 highly highly RB cord-285829-adz819gj 87 6 uncertain uncertain JJ cord-285829-adz819gj 87 7 period period NN cord-285829-adz819gj 87 8 , , , cord-285829-adz819gj 87 9 the the DT cord-285829-adz819gj 87 10 stock stock NN cord-285829-adz819gj 87 11 traders trader NNS cord-285829-adz819gj 87 12 in in IN cord-285829-adz819gj 87 13 the the DT cord-285829-adz819gj 87 14 airline airline NN cord-285829-adz819gj 87 15 business business NN cord-285829-adz819gj 87 16 were be VBD cord-285829-adz819gj 87 17 highly highly RB cord-285829-adz819gj 87 18 vulnerable vulnerable JJ cord-285829-adz819gj 87 19 to to IN cord-285829-adz819gj 87 20 the the DT cord-285829-adz819gj 87 21 new new JJ cord-285829-adz819gj 87 22 arrival arrival NN cord-285829-adz819gj 87 23 of of IN cord-285829-adz819gj 87 24 COVID-19 COVID-19 NNP cord-285829-adz819gj 87 25 information information NN cord-285829-adz819gj 87 26 , , , cord-285829-adz819gj 87 27 which which WDT cord-285829-adz819gj 87 28 greatly greatly RB cord-285829-adz819gj 87 29 deviated deviate VBD cord-285829-adz819gj 87 30 stock stock NN cord-285829-adz819gj 87 31 prices price NNS cord-285829-adz819gj 87 32 from from IN cord-285829-adz819gj 87 33 their -PRON- PRP$ cord-285829-adz819gj 87 34 intrinsic intrinsic JJ cord-285829-adz819gj 87 35 values value NNS cord-285829-adz819gj 87 36 . . . cord-285829-adz819gj 88 1 This this DT cord-285829-adz819gj 88 2 divergence divergence NN cord-285829-adz819gj 88 3 calls call VBZ cord-285829-adz819gj 88 4 for for IN cord-285829-adz819gj 88 5 regulators regulator NNS cord-285829-adz819gj 88 6 and and CC cord-285829-adz819gj 88 7 policymakers policymaker NNS cord-285829-adz819gj 88 8 to to TO cord-285829-adz819gj 88 9 deal deal VB cord-285829-adz819gj 88 10 with with IN cord-285829-adz819gj 88 11 the the DT cord-285829-adz819gj 88 12 ongoing ongoing JJ cord-285829-adz819gj 88 13 problem problem NN cord-285829-adz819gj 88 14 , , , cord-285829-adz819gj 88 15 which which WDT cord-285829-adz819gj 88 16 is be VBZ cord-285829-adz819gj 88 17 discussed discuss VBN cord-285829-adz819gj 88 18 and and CC cord-285829-adz819gj 88 19 proposed propose VBN cord-285829-adz819gj 88 20 in in IN cord-285829-adz819gj 88 21 Section section NN cord-285829-adz819gj 88 22 4.3 4.3 CD cord-285829-adz819gj 88 23 . . . cord-285829-adz819gj 89 1 ( ( -LRB- cord-285829-adz819gj 89 2 Ru Ru NNP cord-285829-adz819gj 89 3 et et FW cord-285829-adz819gj 89 4 al al NNP cord-285829-adz819gj 89 5 . . NNP cord-285829-adz819gj 89 6 , , , cord-285829-adz819gj 89 7 2020 2020 CD cord-285829-adz819gj 89 8 ) ) -RRB- cord-285829-adz819gj 89 9 , , , cord-285829-adz819gj 89 10 and and CC cord-285829-adz819gj 89 11 that that IN cord-285829-adz819gj 89 12 governments government NNS cord-285829-adz819gj 89 13 around around IN cord-285829-adz819gj 89 14 the the DT cord-285829-adz819gj 89 15 world world NN cord-285829-adz819gj 89 16 might may MD cord-285829-adz819gj 89 17 have have VB cord-285829-adz819gj 89 18 found find VBN cord-285829-adz819gj 89 19 a a DT cord-285829-adz819gj 89 20 vaccination vaccination NN cord-285829-adz819gj 89 21 in in IN cord-285829-adz819gj 89 22 the the DT cord-285829-adz819gj 89 23 near near JJ cord-285829-adz819gj 89 24 future future NN cord-285829-adz819gj 89 25 . . . cord-285829-adz819gj 90 1 More more RBR cord-285829-adz819gj 90 2 importantly importantly RB cord-285829-adz819gj 90 3 , , , cord-285829-adz819gj 90 4 traders trader NNS cord-285829-adz819gj 90 5 did do VBD cord-285829-adz819gj 90 6 not not RB cord-285829-adz819gj 90 7 anticipate anticipate VB cord-285829-adz819gj 90 8 that that IN cord-285829-adz819gj 90 9 the the DT cord-285829-adz819gj 90 10 performances performance NNS cord-285829-adz819gj 90 11 of of IN cord-285829-adz819gj 90 12 cross cross JJ cord-285829-adz819gj 90 13 - - JJ cord-285829-adz819gj 90 14 continental continental JJ cord-285829-adz819gj 90 15 airlines airline NNS cord-285829-adz819gj 90 16 would would MD cord-285829-adz819gj 90 17 have have VB cord-285829-adz819gj 90 18 greatly greatly RB cord-285829-adz819gj 90 19 deteriorated deteriorate VBN cord-285829-adz819gj 90 20 due due IN cord-285829-adz819gj 90 21 to to IN cord-285829-adz819gj 90 22 the the DT cord-285829-adz819gj 90 23 lockdown lockdown NN cord-285829-adz819gj 90 24 policy policy NN cord-285829-adz819gj 90 25 in in IN cord-285829-adz819gj 90 26 many many JJ cord-285829-adz819gj 90 27 countries country NNS cord-285829-adz819gj 90 28 . . . cord-285829-adz819gj 91 1 Thus thus RB cord-285829-adz819gj 91 2 , , , cord-285829-adz819gj 91 3 they -PRON- PRP cord-285829-adz819gj 91 4 underestimated underestimate VBD cord-285829-adz819gj 91 5 the the DT cord-285829-adz819gj 91 6 genuine genuine JJ cord-285829-adz819gj 91 7 effects effect NNS cord-285829-adz819gj 91 8 of of IN cord-285829-adz819gj 91 9 COVID-19 covid-19 NN cord-285829-adz819gj 91 10 on on IN cord-285829-adz819gj 91 11 global global JJ cord-285829-adz819gj 91 12 economic economic JJ cord-285829-adz819gj 91 13 conditions condition NNS cord-285829-adz819gj 91 14 . . . cord-285829-adz819gj 92 1 Second second RB cord-285829-adz819gj 92 2 , , , cord-285829-adz819gj 92 3 the the DT cord-285829-adz819gj 92 4 abnormal abnormal JJ cord-285829-adz819gj 92 5 returns return NNS cord-285829-adz819gj 92 6 are be VBP cord-285829-adz819gj 92 7 for for IN cord-285829-adz819gj 92 8 the the DT cord-285829-adz819gj 92 9 most most JJS cord-285829-adz819gj 92 10 part part NN cord-285829-adz819gj 92 11 not not RB cord-285829-adz819gj 92 12 statistically statistically RB cord-285829-adz819gj 92 13 significant significant JJ cord-285829-adz819gj 92 14 on on IN cord-285829-adz819gj 92 15 the the DT cord-285829-adz819gj 92 16 event event NN cord-285829-adz819gj 92 17 date date NN cord-285829-adz819gj 92 18 for for IN cord-285829-adz819gj 92 19 any any DT cord-285829-adz819gj 92 20 of of IN cord-285829-adz819gj 92 21 the the DT cord-285829-adz819gj 92 22 events event NNS cord-285829-adz819gj 92 23 because because IN cord-285829-adz819gj 92 24 investors investor NNS cord-285829-adz819gj 92 25 already already RB cord-285829-adz819gj 92 26 took take VBD cord-285829-adz819gj 92 27 the the DT cord-285829-adz819gj 92 28 information information NN cord-285829-adz819gj 92 29 into into IN cord-285829-adz819gj 92 30 account account NN cord-285829-adz819gj 92 31 during during IN cord-285829-adz819gj 92 32 the the DT cord-285829-adz819gj 92 33 pre pre JJ cord-285829-adz819gj 92 34 - - JJ cord-285829-adz819gj 92 35 event event JJ cord-285829-adz819gj 92 36 window window NN cord-285829-adz819gj 92 37 periods period NNS cord-285829-adz819gj 92 38 . . . cord-285829-adz819gj 93 1 However however RB cord-285829-adz819gj 93 2 , , , cord-285829-adz819gj 93 3 the the DT cord-285829-adz819gj 93 4 stock stock NN cord-285829-adz819gj 93 5 markets market NNS cord-285829-adz819gj 93 6 in in IN cord-285829-adz819gj 93 7 Australia Australia NNP cord-285829-adz819gj 93 8 , , , cord-285829-adz819gj 93 9 Canada Canada NNP cord-285829-adz819gj 93 10 , , , cord-285829-adz819gj 93 11 and and CC cord-285829-adz819gj 93 12 China China NNP cord-285829-adz819gj 93 13 generated generate VBD cord-285829-adz819gj 93 14 significantly significantly RB cord-285829-adz819gj 93 15 negative negative JJ cord-285829-adz819gj 93 16 returns return NNS cord-285829-adz819gj 93 17 during during IN cord-285829-adz819gj 93 18 Event Event NNP cord-285829-adz819gj 93 19 3 3 CD cord-285829-adz819gj 93 20 . . . cord-285829-adz819gj 94 1 Last last JJ cord-285829-adz819gj 94 2 , , , cord-285829-adz819gj 94 3 evidence evidence NN cord-285829-adz819gj 94 4 in in IN cord-285829-adz819gj 94 5 the the DT cord-285829-adz819gj 94 6 last last JJ cord-285829-adz819gj 94 7 window window NN cord-285829-adz819gj 94 8 [ [ -LRB- cord-285829-adz819gj 94 9 0,+5 0,+5 NN cord-285829-adz819gj 94 10 ] ] -RRB- cord-285829-adz819gj 94 11 is be VBZ cord-285829-adz819gj 94 12 strongest strong JJS cord-285829-adz819gj 94 13 , , , cord-285829-adz819gj 94 14 especially especially RB cord-285829-adz819gj 94 15 for for IN cord-285829-adz819gj 94 16 Event Event NNP cord-285829-adz819gj 94 17 3 3 CD cord-285829-adz819gj 94 18 . . . cord-285829-adz819gj 95 1 From from IN cord-285829-adz819gj 95 2 this this DT cord-285829-adz819gj 95 3 event event NN cord-285829-adz819gj 95 4 , , , cord-285829-adz819gj 95 5 we -PRON- PRP cord-285829-adz819gj 95 6 can can MD cord-285829-adz819gj 95 7 observe observe VB cord-285829-adz819gj 95 8 that that IN cord-285829-adz819gj 95 9 the the DT cord-285829-adz819gj 95 10 situation situation NN cord-285829-adz819gj 95 11 was be VBD cord-285829-adz819gj 95 12 improved improve VBN cord-285829-adz819gj 95 13 in in IN cord-285829-adz819gj 95 14 the the DT cord-285829-adz819gj 95 15 Asian asian JJ cord-285829-adz819gj 95 16 countries country NNS cord-285829-adz819gj 95 17 . . . cord-285829-adz819gj 96 1 As as IN cord-285829-adz819gj 96 2 Event event NN cord-285829-adz819gj 96 3 3 3 CD cord-285829-adz819gj 96 4 is be VBZ cord-285829-adz819gj 96 5 directly directly RB cord-285829-adz819gj 96 6 associated associate VBN cord-285829-adz819gj 96 7 with with IN cord-285829-adz819gj 96 8 the the DT cord-285829-adz819gj 96 9 U.S. U.S. NNP cord-285829-adz819gj 96 10 , , , cord-285829-adz819gj 96 11 the the DT cord-285829-adz819gj 96 12 impact impact NN cord-285829-adz819gj 96 13 on on IN cord-285829-adz819gj 96 14 the the DT cord-285829-adz819gj 96 15 U.S U.S NNP cord-285829-adz819gj 96 16 airline airline NN cord-285829-adz819gj 96 17 business business NN cord-285829-adz819gj 96 18 was be VBD cord-285829-adz819gj 96 19 dramatic dramatic JJ cord-285829-adz819gj 96 20 . . . cord-285829-adz819gj 97 1 The the DT cord-285829-adz819gj 97 2 U.S. U.S. NNP cord-285829-adz819gj 97 3 traders trader NNS cord-285829-adz819gj 97 4 overreacted overreact VBD cord-285829-adz819gj 97 5 more more RBR cord-285829-adz819gj 97 6 than than IN cord-285829-adz819gj 97 7 during during IN cord-285829-adz819gj 97 8 the the DT cord-285829-adz819gj 97 9 previous previous JJ cord-285829-adz819gj 97 10 two two CD cord-285829-adz819gj 97 11 events event NNS cord-285829-adz819gj 97 12 . . . cord-285829-adz819gj 98 1 The the DT cord-285829-adz819gj 98 2 same same JJ cord-285829-adz819gj 98 3 evidence evidence NN cord-285829-adz819gj 98 4 can can MD cord-285829-adz819gj 98 5 be be VB cord-285829-adz819gj 98 6 seen see VBN cord-285829-adz819gj 98 7 in in IN cord-285829-adz819gj 98 8 Canada Canada NNP cord-285829-adz819gj 98 9 , , , cord-285829-adz819gj 98 10 as as IN cord-285829-adz819gj 98 11 the the DT cord-285829-adz819gj 98 12 policy policy NN cord-285829-adz819gj 98 13 and and CC cord-285829-adz819gj 98 14 economic economic JJ cord-285829-adz819gj 98 15 conditions condition NNS cord-285829-adz819gj 98 16 are be VBP cord-285829-adz819gj 98 17 very very RB cord-285829-adz819gj 98 18 close close JJ cord-285829-adz819gj 98 19 to to IN cord-285829-adz819gj 98 20 those those DT cord-285829-adz819gj 98 21 in in IN cord-285829-adz819gj 98 22 the the DT cord-285829-adz819gj 98 23 U.S. U.S. NNP cord-285829-adz819gj 99 1 Nevertheless nevertheless RB cord-285829-adz819gj 99 2 , , , cord-285829-adz819gj 99 3 the the DT cord-285829-adz819gj 99 4 finding finding NN cord-285829-adz819gj 99 5 on on IN cord-285829-adz819gj 99 6 the the DT cord-285829-adz819gj 99 7 U.K. U.K. NNP cord-285829-adz819gj 99 8 airlines airline NNS cord-285829-adz819gj 99 9 shows show VBZ cord-285829-adz819gj 99 10 the the DT cord-285829-adz819gj 99 11 greatest great JJS cord-285829-adz819gj 99 12 impact impact NN cord-285829-adz819gj 99 13 , , , cord-285829-adz819gj 99 14 causing cause VBG cord-285829-adz819gj 99 15 cumulative cumulative JJ cord-285829-adz819gj 99 16 negative negative JJ cord-285829-adz819gj 99 17 abnormal abnormal JJ cord-285829-adz819gj 99 18 returns return NNS cord-285829-adz819gj 99 19 of of IN cord-285829-adz819gj 99 20 53.73 53.73 CD cord-285829-adz819gj 99 21 % % NN cord-285829-adz819gj 99 22 . . . cord-285829-adz819gj 100 1 We -PRON- PRP cord-285829-adz819gj 100 2 suspect suspect VBP cord-285829-adz819gj 100 3 that that IN cord-285829-adz819gj 100 4 this this DT cord-285829-adz819gj 100 5 result result NN cord-285829-adz819gj 100 6 is be VBZ cord-285829-adz819gj 100 7 driven drive VBN cord-285829-adz819gj 100 8 by by IN cord-285829-adz819gj 100 9 the the DT cord-285829-adz819gj 100 10 herd herd NN cord-285829-adz819gj 100 11 - - HYPH cord-285829-adz819gj 100 12 immunity immunity NN cord-285829-adz819gj 100 13 policy policy NN cord-285829-adz819gj 100 14 , , , cord-285829-adz819gj 100 15 which which WDT cord-285829-adz819gj 100 16 has have VBZ cord-285829-adz819gj 100 17 been be VBN cord-285829-adz819gj 100 18 debated debate VBN cord-285829-adz819gj 100 19 a a DT cord-285829-adz819gj 100 20 great great JJ cord-285829-adz819gj 100 21 deal deal NN cord-285829-adz819gj 100 22 among among IN cord-285829-adz819gj 100 23 global global JJ cord-285829-adz819gj 100 24 physicians physician NNS cord-285829-adz819gj 100 25 . . . cord-285829-adz819gj 101 1 In in IN cord-285829-adz819gj 101 2 general general JJ cord-285829-adz819gj 101 3 , , , cord-285829-adz819gj 101 4 Asia Asia NNP cord-285829-adz819gj 101 5 - - HYPH cord-285829-adz819gj 101 6 based base VBN cord-285829-adz819gj 101 7 airline airline NN cord-285829-adz819gj 101 8 stock stock NN cord-285829-adz819gj 101 9 prices price NNS cord-285829-adz819gj 101 10 suffered suffer VBD cord-285829-adz819gj 101 11 less less JJR cord-285829-adz819gj 101 12 than than IN cord-285829-adz819gj 101 13 the the DT cord-285829-adz819gj 101 14 rest rest NN cord-285829-adz819gj 101 15 of of IN cord-285829-adz819gj 101 16 the the DT cord-285829-adz819gj 101 17 group group NN cord-285829-adz819gj 101 18 . . . cord-285829-adz819gj 102 1 The the DT cord-285829-adz819gj 102 2 much much RB cord-285829-adz819gj 102 3 lower low JJR cord-285829-adz819gj 102 4 price price NN cord-285829-adz819gj 102 5 effect effect NN cord-285829-adz819gj 102 6 may may MD cord-285829-adz819gj 102 7 be be VB cord-285829-adz819gj 102 8 thanks thank NNS cord-285829-adz819gj 102 9 to to IN cord-285829-adz819gj 102 10 government government NN cord-285829-adz819gj 102 11 interventions intervention NNS cord-285829-adz819gj 102 12 . . . cord-285829-adz819gj 103 1 For for IN cord-285829-adz819gj 103 2 instance instance NN cord-285829-adz819gj 103 3 , , , cord-285829-adz819gj 103 4 in in IN cord-285829-adz819gj 103 5 February February NNP cord-285829-adz819gj 103 6 2020 2020 CD cord-285829-adz819gj 103 7 , , , cord-285829-adz819gj 103 8 the the DT cord-285829-adz819gj 103 9 South south JJ cord-285829-adz819gj 103 10 Korean korean JJ cord-285829-adz819gj 103 11 government government NN cord-285829-adz819gj 103 12 , , , cord-285829-adz819gj 103 13 via via IN cord-285829-adz819gj 103 14 Korea Korea NNP cord-285829-adz819gj 103 15 Development Development NNP cord-285829-adz819gj 103 16 Bank Bank NNP cord-285829-adz819gj 103 17 , , , cord-285829-adz819gj 103 18 provided provide VBD cord-285829-adz819gj 103 19 statebacked statebacked JJ cord-285829-adz819gj 103 20 loans loan NNS cord-285829-adz819gj 103 21 to to IN cord-285829-adz819gj 103 22 airlines airline NNS cord-285829-adz819gj 103 23 that that WDT cord-285829-adz819gj 103 24 had have VBD cord-285829-adz819gj 103 25 cash cash NN cord-285829-adz819gj 103 26 crunches crunch NNS cord-285829-adz819gj 103 27 ( ( -LRB- cord-285829-adz819gj 103 28 Choi Choi NNP cord-285829-adz819gj 103 29 , , , cord-285829-adz819gj 103 30 2020 2020 CD cord-285829-adz819gj 103 31 ) ) -RRB- cord-285829-adz819gj 103 32 and and CC cord-285829-adz819gj 103 33 in in IN cord-285829-adz819gj 103 34 March March NNP cord-285829-adz819gj 103 35 2020 2020 CD cord-285829-adz819gj 103 36 , , , cord-285829-adz819gj 103 37 the the DT cord-285829-adz819gj 103 38 government government NN cord-285829-adz819gj 103 39 injected inject VBD cord-285829-adz819gj 103 40 more more JJR cord-285829-adz819gj 103 41 capital capital NN cord-285829-adz819gj 103 42 together together RB cord-285829-adz819gj 103 43 with with IN cord-285829-adz819gj 103 44 exempted exempt VBN cord-285829-adz819gj 103 45 fees fee NNS cord-285829-adz819gj 103 46 and and CC cord-285829-adz819gj 103 47 deferred deferred JJ cord-285829-adz819gj 103 48 payments payment NNS cord-285829-adz819gj 103 49 of of IN cord-285829-adz819gj 103 50 airport airport NN cord-285829-adz819gj 103 51 landing landing NN cord-285829-adz819gj 103 52 and and CC cord-285829-adz819gj 103 53 facility facility NN cord-285829-adz819gj 103 54 fees fee NNS cord-285829-adz819gj 103 55 ( ( -LRB- cord-285829-adz819gj 103 56 Kim Kim NNP cord-285829-adz819gj 103 57 , , , cord-285829-adz819gj 103 58 2020 2020 CD cord-285829-adz819gj 103 59 ) ) -RRB- cord-285829-adz819gj 103 60 . . . cord-285829-adz819gj 104 1 These these DT cord-285829-adz819gj 104 2 schemes scheme NNS cord-285829-adz819gj 104 3 potentially potentially RB cord-285829-adz819gj 104 4 helped help VBD cord-285829-adz819gj 104 5 soften soften VB cord-285829-adz819gj 104 6 the the DT cord-285829-adz819gj 104 7 panic panic NN cord-285829-adz819gj 104 8 of of IN cord-285829-adz819gj 104 9 the the DT cord-285829-adz819gj 104 10 investors investor NNS cord-285829-adz819gj 104 11 amid amid IN cord-285829-adz819gj 104 12 the the DT cord-285829-adz819gj 104 13 COVID-19 COVID-19 NNP cord-285829-adz819gj 104 14 pandemic pandemic NN cord-285829-adz819gj 104 15 crisis crisis NN cord-285829-adz819gj 104 16 . . . cord-285829-adz819gj 105 1 Our -PRON- PRP$ cord-285829-adz819gj 105 2 results result NNS cord-285829-adz819gj 105 3 are be VBP cord-285829-adz819gj 105 4 robust robust JJ cord-285829-adz819gj 105 5 in in IN cord-285829-adz819gj 105 6 two two CD cord-285829-adz819gj 105 7 ways way NNS cord-285829-adz819gj 105 8 . . . cord-285829-adz819gj 106 1 First first RB cord-285829-adz819gj 106 2 , , , cord-285829-adz819gj 106 3 we -PRON- PRP cord-285829-adz819gj 106 4 vary vary VBP cord-285829-adz819gj 106 5 the the DT cord-285829-adz819gj 106 6 estimation estimation NN cord-285829-adz819gj 106 7 window window NN cord-285829-adz819gj 106 8 using use VBG cord-285829-adz819gj 106 9 second second JJ cord-285829-adz819gj 106 10 - - HYPH cord-285829-adz819gj 106 11 half half NN cord-285829-adz819gj 106 12 data datum NNS cord-285829-adz819gj 106 13 for for IN cord-285829-adz819gj 106 14 the the DT cord-285829-adz819gj 106 15 year year NN cord-285829-adz819gj 106 16 2019 2019 CD cord-285829-adz819gj 106 17 . . . cord-285829-adz819gj 107 1 Second second RB cord-285829-adz819gj 107 2 , , , cord-285829-adz819gj 107 3 the the DT cord-285829-adz819gj 107 4 pre pre JJ cord-285829-adz819gj 107 5 - - NN cord-285829-adz819gj 107 6 event event JJ cord-285829-adz819gj 107 7 and and CC cord-285829-adz819gj 107 8 post post JJ cord-285829-adz819gj 107 9 - - JJ cord-285829-adz819gj 107 10 event event JJ cord-285829-adz819gj 107 11 widows widow NNS cord-285829-adz819gj 107 12 are be VBP cord-285829-adz819gj 107 13 redefined redefine VBN cord-285829-adz819gj 107 14 according accord VBG cord-285829-adz819gj 107 15 to to IN cord-285829-adz819gj 107 16 the the DT cord-285829-adz819gj 107 17 periods period NNS cord-285829-adz819gj 107 18 from from IN cord-285829-adz819gj 107 19 [ [ -LRB- cord-285829-adz819gj 107 20 -5 -5 NNP cord-285829-adz819gj 107 21 , , , cord-285829-adz819gj 107 22 0 0 CD cord-285829-adz819gj 107 23 ] ] -RRB- cord-285829-adz819gj 107 24 to to TO cord-285829-adz819gj 107 25 [ [ -LRB- cord-285829-adz819gj 107 26 -1,0 -1,0 UH cord-285829-adz819gj 107 27 ] ] -RRB- cord-285829-adz819gj 107 28 and and CC cord-285829-adz819gj 107 29 [ [ -LRB- cord-285829-adz819gj 107 30 0,1 0,1 CD cord-285829-adz819gj 107 31 ] ] -RRB- cord-285829-adz819gj 108 1 to to IN cord-285829-adz819gj 108 2 [ [ -LRB- cord-285829-adz819gj 108 3 0,+5 0,+5 CD cord-285829-adz819gj 108 4 ] ] -RRB- cord-285829-adz819gj 108 5 , , , cord-285829-adz819gj 108 6 respectively respectively RB cord-285829-adz819gj 108 7 . . . cord-285829-adz819gj 109 1 In in IN cord-285829-adz819gj 109 2 general general JJ cord-285829-adz819gj 109 3 , , , cord-285829-adz819gj 109 4 the the DT cord-285829-adz819gj 109 5 results result NNS cord-285829-adz819gj 109 6 remain remain VBP cord-285829-adz819gj 109 7 qualitatively qualitatively RB cord-285829-adz819gj 109 8 and and CC cord-285829-adz819gj 109 9 quantitatively quantitatively RB cord-285829-adz819gj 109 10 the the DT cord-285829-adz819gj 109 11 same same JJ cord-285829-adz819gj 109 12 as as IN cord-285829-adz819gj 109 13 seen see VBN cord-285829-adz819gj 109 14 in in IN cord-285829-adz819gj 109 15 our -PRON- PRP$ cord-285829-adz819gj 109 16 presented present VBN cord-285829-adz819gj 109 17 findings finding NNS cord-285829-adz819gj 109 18 . . . cord-285829-adz819gj 110 1 In in IN cord-285829-adz819gj 110 2 addition addition NN cord-285829-adz819gj 110 3 to to IN cord-285829-adz819gj 110 4 event event NN cord-285829-adz819gj 110 5 study study NN cord-285829-adz819gj 110 6 method method NN cord-285829-adz819gj 110 7 , , , cord-285829-adz819gj 110 8 we -PRON- PRP cord-285829-adz819gj 110 9 measure measure VBP cord-285829-adz819gj 110 10 fair fair JJ cord-285829-adz819gj 110 11 value value NN cord-285829-adz819gj 110 12 of of IN cord-285829-adz819gj 110 13 airline airline NN cord-285829-adz819gj 110 14 companies company NNS cord-285829-adz819gj 110 15 based base VBN cord-285829-adz819gj 110 16 on on IN cord-285829-adz819gj 110 17 their -PRON- PRP$ cord-285829-adz819gj 110 18 earnings earning NNS cord-285829-adz819gj 110 19 , , , cord-285829-adz819gj 110 20 reported report VBN cord-285829-adz819gj 110 21 as as IN cord-285829-adz819gj 110 22 of of IN cord-285829-adz819gj 110 23 March March NNP cord-285829-adz819gj 110 24 2020 2020 CD cord-285829-adz819gj 110 25 . . . cord-285829-adz819gj 111 1 Then then RB cord-285829-adz819gj 111 2 , , , cord-285829-adz819gj 111 3 we -PRON- PRP cord-285829-adz819gj 111 4 examine examine VBP cord-285829-adz819gj 111 5 the the DT cord-285829-adz819gj 111 6 overreactions overreaction NNS cord-285829-adz819gj 111 7 of of IN cord-285829-adz819gj 111 8 traders trader NNS cord-285829-adz819gj 111 9 to to IN cord-285829-adz819gj 111 10 the the DT cord-285829-adz819gj 111 11 events event NNS cord-285829-adz819gj 111 12 by by IN cord-285829-adz819gj 111 13 testing test VBG cord-285829-adz819gj 111 14 the the DT cord-285829-adz819gj 111 15 difference difference NN cord-285829-adz819gj 111 16 between between IN cord-285829-adz819gj 111 17 the the DT cord-285829-adz819gj 111 18 actual actual JJ cord-285829-adz819gj 111 19 market market NN cord-285829-adz819gj 111 20 prices price NNS cord-285829-adz819gj 111 21 and and CC cord-285829-adz819gj 111 22 the the DT cord-285829-adz819gj 111 23 fair fair JJ cord-285829-adz819gj 111 24 values value NNS cord-285829-adz819gj 111 25 . . . cord-285829-adz819gj 112 1 We -PRON- PRP cord-285829-adz819gj 112 2 use use VBP cord-285829-adz819gj 112 3 the the DT cord-285829-adz819gj 112 4 following follow VBG cord-285829-adz819gj 112 5 price price NN cord-285829-adz819gj 112 6 - - HYPH cord-285829-adz819gj 112 7 to to IN cord-285829-adz819gj 112 8 - - HYPH cord-285829-adz819gj 112 9 book book NN cord-285829-adz819gj 112 10 valuation valuation NN cord-285829-adz819gj 112 11 to to TO cord-285829-adz819gj 112 12 calculate calculate VB cord-285829-adz819gj 112 13 for for IN cord-285829-adz819gj 112 14 fair fair JJ cord-285829-adz819gj 112 15 value value NN cord-285829-adz819gj 112 16 of of IN cord-285829-adz819gj 112 17 stock stock NN cord-285829-adz819gj 112 18 prices price NNS cord-285829-adz819gj 112 19 . . . cord-285829-adz819gj 113 1 5 5 LS cord-285829-adz819gj 114 1 We -PRON- PRP cord-285829-adz819gj 114 2 investigate investigate VBP cord-285829-adz819gj 114 3 more more RBR cord-285829-adz819gj 114 4 in in IN cord-285829-adz819gj 114 5 depth depth NN cord-285829-adz819gj 114 6 by by IN cord-285829-adz819gj 114 7 examining examine VBG cord-285829-adz819gj 114 8 particular particular JJ cord-285829-adz819gj 114 9 airline airline NN cord-285829-adz819gj 114 10 companies company NNS cord-285829-adz819gj 114 11 . . . cord-285829-adz819gj 115 1 However however RB cord-285829-adz819gj 115 2 , , , cord-285829-adz819gj 115 3 due due IN cord-285829-adz819gj 115 4 to to IN cord-285829-adz819gj 115 5 data datum NNS cord-285829-adz819gj 115 6 availability availability NN cord-285829-adz819gj 115 7 , , , cord-285829-adz819gj 115 8 the the DT cord-285829-adz819gj 115 9 remaining remain VBG cord-285829-adz819gj 115 10 samples sample NNS cord-285829-adz819gj 115 11 equal equal VBP cord-285829-adz819gj 115 12 35 35 CD cord-285829-adz819gj 115 13 airline airline NN cord-285829-adz819gj 115 14 companies company NNS cord-285829-adz819gj 115 15 . . . cord-285829-adz819gj 116 1 The the DT cord-285829-adz819gj 116 2 results result NNS cord-285829-adz819gj 116 3 are be VBP cord-285829-adz819gj 116 4 shown show VBN cord-285829-adz819gj 116 5 in in IN cord-285829-adz819gj 116 6 Table Table NNP cord-285829-adz819gj 116 7 2 2 CD cord-285829-adz819gj 116 8 . . . cord-285829-adz819gj 117 1 Column column NN cord-285829-adz819gj 117 2 1 1 CD cord-285829-adz819gj 117 3 shows show VBZ cord-285829-adz819gj 117 4 market market NN cord-285829-adz819gj 117 5 value value NN cord-285829-adz819gj 117 6 of of IN cord-285829-adz819gj 117 7 each each DT cord-285829-adz819gj 117 8 stock stock NN cord-285829-adz819gj 117 9 . . . cord-285829-adz819gj 118 1 Column column NN cord-285829-adz819gj 118 2 2 2 CD cord-285829-adz819gj 118 3 reports report NNS cord-285829-adz819gj 118 4 fair fair JJ cord-285829-adz819gj 118 5 value value NN cord-285829-adz819gj 118 6 of of IN cord-285829-adz819gj 118 7 stocks stock NNS cord-285829-adz819gj 118 8 using use VBG cord-285829-adz819gj 118 9 Equation equation NN cord-285829-adz819gj 118 10 ( ( -LRB- cord-285829-adz819gj 118 11 4 4 CD cord-285829-adz819gj 118 12 ) ) -RRB- cord-285829-adz819gj 118 13 . . . cord-285829-adz819gj 119 1 Column column NN cord-285829-adz819gj 119 2 3 3 CD cord-285829-adz819gj 119 3 states state NNS cord-285829-adz819gj 119 4 percentage percentage NN cord-285829-adz819gj 119 5 differences difference NNS cord-285829-adz819gj 119 6 between between IN cord-285829-adz819gj 119 7 market market NN cord-285829-adz819gj 119 8 value value NN cord-285829-adz819gj 119 9 and and CC cord-285829-adz819gj 119 10 fair fair JJ cord-285829-adz819gj 119 11 value value NN cord-285829-adz819gj 119 12 . . . cord-285829-adz819gj 120 1 The the DT cord-285829-adz819gj 120 2 results result NNS cord-285829-adz819gj 120 3 show show VBP cord-285829-adz819gj 120 4 that that IN cord-285829-adz819gj 120 5 market market NN cord-285829-adz819gj 120 6 values value NNS cord-285829-adz819gj 120 7 significantly significantly RB cord-285829-adz819gj 120 8 drop drop VBP cord-285829-adz819gj 120 9 below below IN cord-285829-adz819gj 120 10 fair fair JJ cord-285829-adz819gj 120 11 values value NNS cord-285829-adz819gj 120 12 for for IN cord-285829-adz819gj 120 13 most most JJS cord-285829-adz819gj 120 14 companies company NNS cord-285829-adz819gj 120 15 , , , cord-285829-adz819gj 120 16 leading lead VBG cord-285829-adz819gj 120 17 to to IN cord-285829-adz819gj 120 18 significantly significantly RB cord-285829-adz819gj 120 19 average average JJ cord-285829-adz819gj 120 20 differences difference NNS cord-285829-adz819gj 120 21 in in IN cord-285829-adz819gj 120 22 mean mean NN cord-285829-adz819gj 120 23 and and CC cord-285829-adz819gj 120 24 median median NN cord-285829-adz819gj 120 25 of of IN cord-285829-adz819gj 120 26 -22.10 -22.10 NN cord-285829-adz819gj 120 27 % % NN cord-285829-adz819gj 120 28 and and CC cord-285829-adz819gj 120 29 -48.00 -48.00 CD cord-285829-adz819gj 120 30 % % NN cord-285829-adz819gj 120 31 , , , cord-285829-adz819gj 120 32 respectively respectively RB cord-285829-adz819gj 120 33 . . . cord-285829-adz819gj 121 1 Our -PRON- PRP$ cord-285829-adz819gj 121 2 findings finding NNS cord-285829-adz819gj 121 3 , , , cord-285829-adz819gj 121 4 thus thus RB cord-285829-adz819gj 121 5 , , , cord-285829-adz819gj 121 6 confirm confirm VB cord-285829-adz819gj 121 7 that that IN cord-285829-adz819gj 121 8 investors investor NNS cord-285829-adz819gj 121 9 overreact overreact VBP cord-285829-adz819gj 121 10 to to TO cord-285829-adz819gj 121 11 COVID-19 covid-19 VB cord-285829-adz819gj 121 12 pandemic pandemic JJ cord-285829-adz819gj 121 13 events event NNS cord-285829-adz819gj 121 14 . . . cord-285829-adz819gj 122 1 Our -PRON- PRP$ cord-285829-adz819gj 122 2 findings finding NNS cord-285829-adz819gj 122 3 provide provide VBP cord-285829-adz819gj 122 4 greater great JJR cord-285829-adz819gj 122 5 understanding understanding NN cord-285829-adz819gj 122 6 of of IN cord-285829-adz819gj 122 7 how how WRB cord-285829-adz819gj 122 8 the the DT cord-285829-adz819gj 122 9 airline airline NN cord-285829-adz819gj 122 10 stock stock NN cord-285829-adz819gj 122 11 prices price NNS cord-285829-adz819gj 122 12 deteriorated deteriorate VBD cord-285829-adz819gj 122 13 during during IN cord-285829-adz819gj 122 14 the the DT cord-285829-adz819gj 122 15 crisis crisis NN cord-285829-adz819gj 122 16 due due IN cord-285829-adz819gj 122 17 to to IN cord-285829-adz819gj 122 18 investors investor NNS cord-285829-adz819gj 122 19 ' ' POS cord-285829-adz819gj 122 20 interpretation interpretation NN cord-285829-adz819gj 122 21 of of IN cord-285829-adz819gj 122 22 information information NN cord-285829-adz819gj 122 23 . . . cord-285829-adz819gj 123 1 As as IN cord-285829-adz819gj 123 2 can can MD cord-285829-adz819gj 123 3 be be VB cord-285829-adz819gj 123 4 seen see VBN cord-285829-adz819gj 123 5 in in IN cord-285829-adz819gj 123 6 South South NNP cord-285829-adz819gj 123 7 Korea Korea NNP cord-285829-adz819gj 123 8 , , , cord-285829-adz819gj 123 9 policy policy NN cord-285829-adz819gj 123 10 announcement announcement NN cord-285829-adz819gj 123 11 from from IN cord-285829-adz819gj 123 12 the the DT cord-285829-adz819gj 123 13 government government NN cord-285829-adz819gj 123 14 could could MD cord-285829-adz819gj 123 15 lessen lessen VB cord-285829-adz819gj 123 16 investor investor NN cord-285829-adz819gj 123 17 overreaction overreaction NN cord-285829-adz819gj 123 18 . . . cord-285829-adz819gj 124 1 In in IN cord-285829-adz819gj 124 2 this this DT cord-285829-adz819gj 124 3 section section NN cord-285829-adz819gj 124 4 , , , cord-285829-adz819gj 124 5 we -PRON- PRP cord-285829-adz819gj 124 6 further further RB cord-285829-adz819gj 124 7 discuss discuss VBP cord-285829-adz819gj 124 8 and and CC cord-285829-adz819gj 124 9 suggest suggest VB cord-285829-adz819gj 124 10 policy policy NN cord-285829-adz819gj 124 11 responses response NNS cord-285829-adz819gj 124 12 , , , cord-285829-adz819gj 124 13 covering cover VBG cord-285829-adz819gj 124 14 fiscal fiscal JJ cord-285829-adz819gj 124 15 and and CC cord-285829-adz819gj 124 16 monetary monetary JJ cord-285829-adz819gj 124 17 measures measure NNS cord-285829-adz819gj 124 18 as as RB cord-285829-adz819gj 124 19 well well RB cord-285829-adz819gj 124 20 as as IN cord-285829-adz819gj 124 21 other other JJ cord-285829-adz819gj 124 22 measures measure NNS cord-285829-adz819gj 124 23 ( ( -LRB- cord-285829-adz819gj 124 24 e.g. e.g. RB cord-285829-adz819gj 124 25 , , , cord-285829-adz819gj 124 26 employment employment NN cord-285829-adz819gj 124 27 , , , cord-285829-adz819gj 124 28 waiving waive VBG cord-285829-adz819gj 124 29 airport airport NN cord-285829-adz819gj 124 30 use use NN cord-285829-adz819gj 124 31 charges charge NNS cord-285829-adz819gj 124 32 , , , cord-285829-adz819gj 124 33 administration administration NN cord-285829-adz819gj 124 34 ) ) -RRB- cord-285829-adz819gj 124 35 . . . cord-285829-adz819gj 125 1 We -PRON- PRP cord-285829-adz819gj 125 2 suggest suggest VBP cord-285829-adz819gj 125 3 that that IN cord-285829-adz819gj 125 4 policymakers policymaker NNS cord-285829-adz819gj 125 5 should should MD cord-285829-adz819gj 125 6 deploy deploy VB cord-285829-adz819gj 125 7 prompt prompt JJ cord-285829-adz819gj 125 8 and and CC cord-285829-adz819gj 125 9 adequate adequate JJ cord-285829-adz819gj 125 10 policy policy NN cord-285829-adz819gj 125 11 interventions intervention NNS cord-285829-adz819gj 125 12 . . . cord-285829-adz819gj 126 1 The the DT cord-285829-adz819gj 126 2 stimulus stimulus NN cord-285829-adz819gj 126 3 packages package NNS cord-285829-adz819gj 126 4 ( ( -LRB- cord-285829-adz819gj 126 5 e.g. e.g. RB cord-285829-adz819gj 126 6 , , , cord-285829-adz819gj 126 7 loans loan NNS cord-285829-adz819gj 126 8 and and CC cord-285829-adz819gj 126 9 loan loan NN cord-285829-adz819gj 126 10 guarantees guarantee NNS cord-285829-adz819gj 126 11 ) ) -RRB- cord-285829-adz819gj 126 12 can can MD cord-285829-adz819gj 126 13 help help VB cord-285829-adz819gj 126 14 restore restore VB cord-285829-adz819gj 126 15 investor investor NN cord-285829-adz819gj 126 16 confidence confidence NN cord-285829-adz819gj 126 17 from from IN cord-285829-adz819gj 126 18 the the DT cord-285829-adz819gj 126 19 economic economic JJ cord-285829-adz819gj 126 20 impacts impact NNS cord-285829-adz819gj 126 21 of of IN cord-285829-adz819gj 126 22 COVID-19 covid-19 CD cord-285829-adz819gj 126 23 in in IN cord-285829-adz819gj 126 24 the the DT cord-285829-adz819gj 126 25 airline airline NN cord-285829-adz819gj 126 26 industry industry NN cord-285829-adz819gj 126 27 since since IN cord-285829-adz819gj 126 28 the the DT cord-285829-adz819gj 126 29 investors investor NNS cord-285829-adz819gj 126 30 timely timely RB cord-285829-adz819gj 126 31 respond respond VBP cord-285829-adz819gj 126 32 to to IN cord-285829-adz819gj 126 33 the the DT cord-285829-adz819gj 126 34 new new JJ cord-285829-adz819gj 126 35 information information NN cord-285829-adz819gj 126 36 . . . cord-285829-adz819gj 127 1 During during IN cord-285829-adz819gj 127 2 the the DT cord-285829-adz819gj 127 3 COVID-19 COVID-19 NNP cord-285829-adz819gj 127 4 crisis crisis NN cord-285829-adz819gj 127 5 , , , cord-285829-adz819gj 127 6 banks bank NNS cord-285829-adz819gj 127 7 may may MD cord-285829-adz819gj 127 8 be be VB cord-285829-adz819gj 127 9 reluctant reluctant JJ cord-285829-adz819gj 127 10 to to TO cord-285829-adz819gj 127 11 lend lend VB cord-285829-adz819gj 127 12 to to IN cord-285829-adz819gj 127 13 the the DT cord-285829-adz819gj 127 14 financial financial JJ cord-285829-adz819gj 127 15 distressed distressed JJ cord-285829-adz819gj 127 16 airlines airline NNS cord-285829-adz819gj 127 17 due due JJ cord-285829-adz819gj 127 18 to to IN cord-285829-adz819gj 127 19 increasing increase VBG cord-285829-adz819gj 127 20 bankruptcy bankruptcy NN cord-285829-adz819gj 127 21 risk risk NN cord-285829-adz819gj 127 22 of of IN cord-285829-adz819gj 127 23 the the DT cord-285829-adz819gj 127 24 airlines airline NNS cord-285829-adz819gj 127 25 . . . cord-285829-adz819gj 128 1 Thus thus RB cord-285829-adz819gj 128 2 , , , cord-285829-adz819gj 128 3 the the DT cord-285829-adz819gj 128 4 ability ability NN cord-285829-adz819gj 128 5 to to TO cord-285829-adz819gj 128 6 access access VB cord-285829-adz819gj 128 7 low low JJ cord-285829-adz819gj 128 8 interest interest NN cord-285829-adz819gj 128 9 loans loan NNS cord-285829-adz819gj 128 10 or or CC cord-285829-adz819gj 128 11 government government NN cord-285829-adz819gj 128 12 - - HYPH cord-285829-adz819gj 128 13 backed back VBN cord-285829-adz819gj 128 14 financing financing NN cord-285829-adz819gj 128 15 is be VBZ cord-285829-adz819gj 128 16 critically critically RB cord-285829-adz819gj 128 17 important important JJ cord-285829-adz819gj 128 18 for for IN cord-285829-adz819gj 128 19 a a DT cord-285829-adz819gj 128 20 company company NN cord-285829-adz819gj 128 21 to to TO cord-285829-adz819gj 128 22 survive survive VB cord-285829-adz819gj 128 23 . . . cord-285829-adz819gj 129 1 In in IN cord-285829-adz819gj 129 2 line line NN cord-285829-adz819gj 129 3 with with IN cord-285829-adz819gj 129 4 the the DT cord-285829-adz819gj 129 5 suggestion suggestion NN cord-285829-adz819gj 129 6 by by IN cord-285829-adz819gj 129 7 Ramelli Ramelli NNP cord-285829-adz819gj 129 8 and and CC cord-285829-adz819gj 129 9 Wagner Wagner NNP cord-285829-adz819gj 129 10 ( ( -LRB- cord-285829-adz819gj 129 11 2020 2020 CD cord-285829-adz819gj 129 12 ) ) -RRB- cord-285829-adz819gj 129 13 , , , cord-285829-adz819gj 129 14 the the DT cord-285829-adz819gj 129 15 governments government NNS cord-285829-adz819gj 129 16 may may MD cord-285829-adz819gj 129 17 alternatively alternatively RB cord-285829-adz819gj 129 18 purchase purchase VB cord-285829-adz819gj 129 19 newly newly RB cord-285829-adz819gj 129 20 issued issue VBN cord-285829-adz819gj 129 21 bonds bond NNS cord-285829-adz819gj 129 22 on on IN cord-285829-adz819gj 129 23 the the DT cord-285829-adz819gj 129 24 primary primary JJ cord-285829-adz819gj 129 25 market market NN cord-285829-adz819gj 129 26 . . . cord-285829-adz819gj 130 1 In in IN cord-285829-adz819gj 130 2 addition addition NN cord-285829-adz819gj 130 3 , , , cord-285829-adz819gj 130 4 tax tax NN cord-285829-adz819gj 130 5 deferrals deferral NNS cord-285829-adz819gj 130 6 and and CC cord-285829-adz819gj 130 7 aviation aviation NN cord-285829-adz819gj 130 8 tax tax NN cord-285829-adz819gj 130 9 reductions reduction NNS cord-285829-adz819gj 130 10 should should MD cord-285829-adz819gj 130 11 be be VB cord-285829-adz819gj 130 12 implemented implement VBN cord-285829-adz819gj 130 13 in in IN cord-285829-adz819gj 130 14 the the DT cord-285829-adz819gj 130 15 airline airline NN cord-285829-adz819gj 130 16 industry industry NN cord-285829-adz819gj 130 17 , , , cord-285829-adz819gj 130 18 especially especially RB cord-285829-adz819gj 130 19 for for IN cord-285829-adz819gj 130 20 cash cash NN cord-285829-adz819gj 130 21 constrained constrain VBN cord-285829-adz819gj 130 22 airlines airline NNS cord-285829-adz819gj 130 23 . . . cord-285829-adz819gj 131 1 To to IN cord-285829-adz819gj 131 2 our -PRON- PRP$ cord-285829-adz819gj 131 3 knowledge knowledge NN cord-285829-adz819gj 131 4 , , , cord-285829-adz819gj 131 5 an an DT cord-285829-adz819gj 131 6 exemption exemption NN cord-285829-adz819gj 131 7 or or CC cord-285829-adz819gj 131 8 reduction reduction NN cord-285829-adz819gj 131 9 of of IN cord-285829-adz819gj 131 10 inputs input NNS cord-285829-adz819gj 131 11 such such JJ cord-285829-adz819gj 131 12 as as IN cord-285829-adz819gj 131 13 spare spare JJ cord-285829-adz819gj 131 14 parts part NNS cord-285829-adz819gj 131 15 used use VBN cord-285829-adz819gj 131 16 in in IN cord-285829-adz819gj 131 17 airline airline NN cord-285829-adz819gj 131 18 business business NN cord-285829-adz819gj 131 19 from from IN cord-285829-adz819gj 131 20 import import NN cord-285829-adz819gj 131 21 taxes taxis NNS cord-285829-adz819gj 131 22 are be VBP cord-285829-adz819gj 131 23 used use VBN cord-285829-adz819gj 131 24 in in IN cord-285829-adz819gj 131 25 a a DT cord-285829-adz819gj 131 26 few few JJ cord-285829-adz819gj 131 27 countries country NNS cord-285829-adz819gj 131 28 . . . cord-285829-adz819gj 132 1 Governments government NNS cord-285829-adz819gj 132 2 should should MD cord-285829-adz819gj 132 3 temporarily temporarily RB cord-285829-adz819gj 132 4 increase increase VB cord-285829-adz819gj 132 5 subsidies subsidy NNS cord-285829-adz819gj 132 6 during during IN cord-285829-adz819gj 132 7 COVID-19 COVID-19 NNP cord-285829-adz819gj 132 8 crisis crisis NN cord-285829-adz819gj 132 9 . . . cord-285829-adz819gj 133 1 For for IN cord-285829-adz819gj 133 2 example example NN cord-285829-adz819gj 133 3 , , , cord-285829-adz819gj 133 4 jet jet NN cord-285829-adz819gj 133 5 fuel fuel NN cord-285829-adz819gj 133 6 tax tax NN cord-285829-adz819gj 133 7 cut cut NN cord-285829-adz819gj 133 8 can can MD cord-285829-adz819gj 133 9 be be VB cord-285829-adz819gj 133 10 implemented implement VBN cord-285829-adz819gj 133 11 for for IN cord-285829-adz819gj 133 12 domestic domestic JJ cord-285829-adz819gj 133 13 flights flight NNS cord-285829-adz819gj 133 14 to to TO cord-285829-adz819gj 133 15 reduce reduce VB cord-285829-adz819gj 133 16 operating operating NN cord-285829-adz819gj 133 17 costs cost NNS cord-285829-adz819gj 133 18 due due JJ cord-285829-adz819gj 133 19 to to IN cord-285829-adz819gj 133 20 a a DT cord-285829-adz819gj 133 21 decline decline NN cord-285829-adz819gj 133 22 in in IN cord-285829-adz819gj 133 23 passengers passenger NNS cord-285829-adz819gj 133 24 . . . cord-285829-adz819gj 134 1 However however RB cord-285829-adz819gj 134 2 , , , cord-285829-adz819gj 134 3 policymakers policymaker NNS cord-285829-adz819gj 134 4 need need VBP cord-285829-adz819gj 134 5 to to TO cord-285829-adz819gj 134 6 incorporate incorporate VB cord-285829-adz819gj 134 7 their -PRON- PRP$ cord-285829-adz819gj 134 8 country country NN cord-285829-adz819gj 134 9 circumstances circumstance NNS cord-285829-adz819gj 134 10 into into IN cord-285829-adz819gj 134 11 the the DT cord-285829-adz819gj 134 12 policy policy NN cord-285829-adz819gj 134 13 design design NN cord-285829-adz819gj 134 14 and and CC cord-285829-adz819gj 134 15 link link VB cord-285829-adz819gj 134 16 the the DT cord-285829-adz819gj 134 17 measures measure NNS cord-285829-adz819gj 134 18 with with IN cord-285829-adz819gj 134 19 sustainability sustainability NN cord-285829-adz819gj 134 20 practices practice NNS cord-285829-adz819gj 134 21 . . . cord-285829-adz819gj 135 1 Other other JJ cord-285829-adz819gj 135 2 measures measure NNS cord-285829-adz819gj 135 3 such such JJ cord-285829-adz819gj 135 4 as as IN cord-285829-adz819gj 135 5 employment employment NN cord-285829-adz819gj 135 6 and and CC cord-285829-adz819gj 135 7 waiving waive VBG cord-285829-adz819gj 135 8 airport airport NN cord-285829-adz819gj 135 9 use use NN cord-285829-adz819gj 135 10 charges charge NNS cord-285829-adz819gj 135 11 ( ( -LRB- cord-285829-adz819gj 135 12 aircraft aircraft NN cord-285829-adz819gj 135 13 parking parking NN cord-285829-adz819gj 135 14 and and CC cord-285829-adz819gj 135 15 landing landing NN cord-285829-adz819gj 135 16 fees fee NNS cord-285829-adz819gj 135 17 ) ) -RRB- cord-285829-adz819gj 135 18 can can MD cord-285829-adz819gj 135 19 be be VB cord-285829-adz819gj 135 20 included include VBN cord-285829-adz819gj 135 21 in in IN cord-285829-adz819gj 135 22 the the DT cord-285829-adz819gj 135 23 relief relief NN cord-285829-adz819gj 135 24 package package NN cord-285829-adz819gj 135 25 . . . cord-285829-adz819gj 136 1 Governments government NNS cord-285829-adz819gj 136 2 should should MD cord-285829-adz819gj 136 3 have have VB cord-285829-adz819gj 136 4 some some DT cord-285829-adz819gj 136 5 conditions condition NNS cord-285829-adz819gj 136 6 on on IN cord-285829-adz819gj 136 7 accessing access VBG cord-285829-adz819gj 136 8 loans loan NNS cord-285829-adz819gj 136 9 including include VBG cord-285829-adz819gj 136 10 maintaining maintain VBG cord-285829-adz819gj 136 11 employment employment NN cord-285829-adz819gj 136 12 . . . cord-285829-adz819gj 137 1 Unpaid unpaid JJ cord-285829-adz819gj 137 2 leave leave NN cord-285829-adz819gj 137 3 programs program NNS cord-285829-adz819gj 137 4 may may MD cord-285829-adz819gj 137 5 be be VB cord-285829-adz819gj 137 6 a a DT cord-285829-adz819gj 137 7 better well JJR cord-285829-adz819gj 137 8 alternative alternative JJ cord-285829-adz819gj 137 9 option option NN cord-285829-adz819gj 137 10 than than IN cord-285829-adz819gj 137 11 a a DT cord-285829-adz819gj 137 12 lay lay VB cord-285829-adz819gj 137 13 - - HYPH cord-285829-adz819gj 137 14 off off RP cord-285829-adz819gj 137 15 policy policy NN cord-285829-adz819gj 137 16 . . . cord-285829-adz819gj 138 1 For for IN cord-285829-adz819gj 138 2 instance instance NN cord-285829-adz819gj 138 3 , , , cord-285829-adz819gj 138 4 in in IN cord-285829-adz819gj 138 5 South South NNP cord-285829-adz819gj 138 6 Korea Korea NNP cord-285829-adz819gj 138 7 , , , cord-285829-adz819gj 138 8 low low JJ cord-285829-adz819gj 138 9 cost cost NN cord-285829-adz819gj 138 10 carriers carrier NNS cord-285829-adz819gj 138 11 ' ' POS cord-285829-adz819gj 138 12 employees employee NNS cord-285829-adz819gj 138 13 who who WP cord-285829-adz819gj 138 14 were be VBD cord-285829-adz819gj 138 15 off off RP cord-285829-adz819gj 138 16 work work NN cord-285829-adz819gj 138 17 would would MD cord-285829-adz819gj 138 18 be be VB cord-285829-adz819gj 138 19 guaranteed guarantee VBN cord-285829-adz819gj 138 20 70 70 CD cord-285829-adz819gj 138 21 % % NN cord-285829-adz819gj 138 22 of of IN cord-285829-adz819gj 138 23 their -PRON- PRP$ cord-285829-adz819gj 138 24 average average JJ cord-285829-adz819gj 138 25 wages wage NNS cord-285829-adz819gj 138 26 due due JJ cord-285829-adz819gj 138 27 to to IN cord-285829-adz819gj 138 28 the the DT cord-285829-adz819gj 138 29 special special JJ cord-285829-adz819gj 138 30 employment employment NN cord-285829-adz819gj 138 31 support support NN cord-285829-adz819gj 138 32 from from IN cord-285829-adz819gj 138 33 the the DT cord-285829-adz819gj 138 34 Ministry Ministry NNP cord-285829-adz819gj 138 35 of of IN cord-285829-adz819gj 138 36 Employment Employment NNP cord-285829-adz819gj 138 37 and and CC cord-285829-adz819gj 138 38 Labor Labor NNP cord-285829-adz819gj 138 39 ( ( -LRB- cord-285829-adz819gj 138 40 Choi Choi NNP cord-285829-adz819gj 138 41 , , , cord-285829-adz819gj 138 42 2020 2020 CD cord-285829-adz819gj 138 43 ) ) -RRB- cord-285829-adz819gj 138 44 . . . cord-285829-adz819gj 139 1 Although although IN cord-285829-adz819gj 139 2 the the DT cord-285829-adz819gj 139 3 mentioned mention VBN cord-285829-adz819gj 139 4 support support NN cord-285829-adz819gj 139 5 measures measure NNS cord-285829-adz819gj 139 6 may may MD cord-285829-adz819gj 139 7 reduce reduce VB cord-285829-adz819gj 139 8 the the DT cord-285829-adz819gj 139 9 probability probability NN cord-285829-adz819gj 139 10 of of IN cord-285829-adz819gj 139 11 bankruptcy bankruptcy NN cord-285829-adz819gj 139 12 or or CC cord-285829-adz819gj 139 13 prevent prevent VB cord-285829-adz819gj 139 14 liquidity liquidity NN cord-285829-adz819gj 139 15 crunch crunch NN cord-285829-adz819gj 139 16 , , , cord-285829-adz819gj 139 17 several several JJ cord-285829-adz819gj 139 18 vulnerable vulnerable JJ cord-285829-adz819gj 139 19 airlines airline NNS cord-285829-adz819gj 139 20 faced face VBN cord-285829-adz819gj 139 21 with with IN cord-285829-adz819gj 139 22 financial financial JJ cord-285829-adz819gj 139 23 distress distress NN cord-285829-adz819gj 139 24 ended end VBN cord-285829-adz819gj 139 25 with with IN cord-285829-adz819gj 139 26 bankruptcy bankruptcy NN cord-285829-adz819gj 139 27 ( ( -LRB- cord-285829-adz819gj 139 28 Mahtani Mahtani NNP cord-285829-adz819gj 139 29 and and CC cord-285829-adz819gj 139 30 Garg Garg NNP cord-285829-adz819gj 139 31 , , , cord-285829-adz819gj 139 32 2018 2018 CD cord-285829-adz819gj 139 33 ) ) -RRB- cord-285829-adz819gj 139 34 . . . cord-285829-adz819gj 140 1 Alternatively alternatively RB cord-285829-adz819gj 140 2 , , , cord-285829-adz819gj 140 3 the the DT cord-285829-adz819gj 140 4 administrative administrative JJ cord-285829-adz819gj 140 5 measures measure NNS cord-285829-adz819gj 140 6 should should MD cord-285829-adz819gj 140 7 allow allow VB cord-285829-adz819gj 140 8 the the DT cord-285829-adz819gj 140 9 airlines airline NNS cord-285829-adz819gj 140 10 to to TO cord-285829-adz819gj 140 11 change change VB cord-285829-adz819gj 140 12 their -PRON- PRP$ cord-285829-adz819gj 140 13 business business NN cord-285829-adz819gj 140 14 plans plan NNS cord-285829-adz819gj 140 15 and and CC cord-285829-adz819gj 140 16 establish establish VB cord-285829-adz819gj 140 17 alternative alternative NN cord-285829-adz819gj 140 18 . . . cord-285829-adz819gj 141 1 Besides besides RB cord-285829-adz819gj 141 2 , , , cord-285829-adz819gj 141 3 they -PRON- PRP cord-285829-adz819gj 141 4 should should MD cord-285829-adz819gj 141 5 be be VB cord-285829-adz819gj 141 6 able able JJ cord-285829-adz819gj 141 7 to to TO cord-285829-adz819gj 141 8 operate operate VB cord-285829-adz819gj 141 9 irregular irregular JJ cord-285829-adz819gj 141 10 flight flight NN cord-285829-adz819gj 141 11 schedules schedule NNS cord-285829-adz819gj 141 12 reflecting reflect VBG cord-285829-adz819gj 141 13 market market NN cord-285829-adz819gj 141 14 demand demand NN cord-285829-adz819gj 141 15 . . . cord-285829-adz819gj 142 1 Such such JJ cord-285829-adz819gj 142 2 policies policy NNS cord-285829-adz819gj 142 3 can can MD cord-285829-adz819gj 142 4 alleviate alleviate VB cord-285829-adz819gj 142 5 investor investor NN cord-285829-adz819gj 142 6 panic panic NN cord-285829-adz819gj 142 7 . . . cord-285829-adz819gj 143 1 Table table NN cord-285829-adz819gj 143 2 3 3 CD cord-285829-adz819gj 143 3 summarizes summarize VBZ cord-285829-adz819gj 143 4 suggestion suggestion NN cord-285829-adz819gj 143 5 measures measure NNS cord-285829-adz819gj 143 6 in in IN cord-285829-adz819gj 143 7 response response NN cord-285829-adz819gj 143 8 to to IN cord-285829-adz819gj 143 9 COVID-19 COVID-19 NNP cord-285829-adz819gj 143 10 . . . cord-285829-adz819gj 144 1 The the DT cord-285829-adz819gj 144 2 COVID-19 COVID-19 NNP cord-285829-adz819gj 144 3 pandemic pandemic NN cord-285829-adz819gj 144 4 has have VBZ cord-285829-adz819gj 144 5 caused cause VBN cord-285829-adz819gj 144 6 disruptions disruption NNS cord-285829-adz819gj 144 7 in in IN cord-285829-adz819gj 144 8 all all DT cord-285829-adz819gj 144 9 parts part NNS cord-285829-adz819gj 144 10 of of IN cord-285829-adz819gj 144 11 the the DT cord-285829-adz819gj 144 12 world world NN cord-285829-adz819gj 144 13 . . . cord-285829-adz819gj 145 1 In in IN cord-285829-adz819gj 145 2 this this DT cord-285829-adz819gj 145 3 paper paper NN cord-285829-adz819gj 145 4 we -PRON- PRP cord-285829-adz819gj 145 5 aim aim VBP cord-285829-adz819gj 145 6 to to TO cord-285829-adz819gj 145 7 investigate investigate VB cord-285829-adz819gj 145 8 the the DT cord-285829-adz819gj 145 9 impact impact NN cord-285829-adz819gj 145 10 on on IN cord-285829-adz819gj 145 11 the the DT cord-285829-adz819gj 145 12 global global JJ cord-285829-adz819gj 145 13 airline airline NN cord-285829-adz819gj 145 14 business business NN cord-285829-adz819gj 145 15 because because IN cord-285829-adz819gj 145 16 it -PRON- PRP cord-285829-adz819gj 145 17 is be VBZ cord-285829-adz819gj 145 18 among among IN cord-285829-adz819gj 145 19 the the DT cord-285829-adz819gj 145 20 first first JJ cord-285829-adz819gj 145 21 industries industry NNS cord-285829-adz819gj 145 22 to to TO cord-285829-adz819gj 145 23 receive receive VB cord-285829-adz819gj 145 24 this this DT cord-285829-adz819gj 145 25 impact impact NN cord-285829-adz819gj 145 26 . . . cord-285829-adz819gj 146 1 Three three CD cord-285829-adz819gj 146 2 crucial crucial JJ cord-285829-adz819gj 146 3 announcements announcement NNS cord-285829-adz819gj 146 4 are be VBP cord-285829-adz819gj 146 5 selected select VBN cord-285829-adz819gj 146 6 to to TO cord-285829-adz819gj 146 7 be be VB cord-285829-adz819gj 146 8 studied study VBN cord-285829-adz819gj 146 9 . . . cord-285829-adz819gj 147 1 We -PRON- PRP cord-285829-adz819gj 147 2 find find VBP cord-285829-adz819gj 147 3 that that IN cord-285829-adz819gj 147 4 the the DT cord-285829-adz819gj 147 5 trading trading NN cord-285829-adz819gj 147 6 behaviors behavior NNS cord-285829-adz819gj 147 7 of of IN cord-285829-adz819gj 147 8 global global JJ cord-285829-adz819gj 147 9 traders trader NNS cord-285829-adz819gj 147 10 are be VBP cord-285829-adz819gj 147 11 intertemporal intertemporal JJ cord-285829-adz819gj 147 12 , , , cord-285829-adz819gj 147 13 with with IN cord-285829-adz819gj 147 14 the the DT cord-285829-adz819gj 147 15 greatest great JJS cord-285829-adz819gj 147 16 impact impact NN cord-285829-adz819gj 147 17 on on IN cord-285829-adz819gj 147 18 Event Event NNP cord-285829-adz819gj 147 19 3 3 CD cord-285829-adz819gj 147 20 . . . cord-285829-adz819gj 148 1 More more RBR cord-285829-adz819gj 148 2 specifically specifically RB cord-285829-adz819gj 148 3 , , , cord-285829-adz819gj 148 4 the the DT cord-285829-adz819gj 148 5 underreaction underreaction NN cord-285829-adz819gj 148 6 and and CC cord-285829-adz819gj 148 7 overreaction overreaction NN cord-285829-adz819gj 148 8 to to IN cord-285829-adz819gj 148 9 the the DT cord-285829-adz819gj 148 10 announcements announcement NNS cord-285829-adz819gj 148 11 are be VBP cord-285829-adz819gj 148 12 found find VBN cord-285829-adz819gj 148 13 in in IN cord-285829-adz819gj 148 14 Event Event NNP cord-285829-adz819gj 148 15 1 1 CD cord-285829-adz819gj 148 16 and and CC cord-285829-adz819gj 148 17 Event Event NNP cord-285829-adz819gj 148 18 3 3 CD cord-285829-adz819gj 148 19 , , , cord-285829-adz819gj 148 20 respectively respectively RB cord-285829-adz819gj 148 21 . . . cord-285829-adz819gj 149 1 Most Most JJS cord-285829-adz819gj 149 2 of of IN cord-285829-adz819gj 149 3 the the DT cord-285829-adz819gj 149 4 findings finding NNS cord-285829-adz819gj 149 5 are be VBP cord-285829-adz819gj 149 6 evident evident JJ cord-285829-adz819gj 149 7 in in IN cord-285829-adz819gj 149 8 the the DT cord-285829-adz819gj 149 9 post post JJ cord-285829-adz819gj 149 10 - - JJ cord-285829-adz819gj 149 11 event event JJ cord-285829-adz819gj 149 12 period period NN cord-285829-adz819gj 149 13 in in IN cord-285829-adz819gj 149 14 Event Event NNP cord-285829-adz819gj 149 15 3 3 CD cord-285829-adz819gj 149 16 , , , cord-285829-adz819gj 149 17 especially especially RB cord-285829-adz819gj 149 18 in in IN cord-285829-adz819gj 149 19 Canada Canada NNP cord-285829-adz819gj 149 20 , , , cord-285829-adz819gj 149 21 the the DT cord-285829-adz819gj 149 22 U.K. U.K. NNP cord-285829-adz819gj 149 23 , , , cord-285829-adz819gj 149 24 and and CC cord-285829-adz819gj 149 25 the the DT cord-285829-adz819gj 149 26 U.S. U.S. NNP cord-285829-adz819gj 149 27 We -PRON- PRP cord-285829-adz819gj 149 28 offer offer VBP cord-285829-adz819gj 149 29 several several JJ cord-285829-adz819gj 149 30 facts fact NNS cord-285829-adz819gj 149 31 and and CC cord-285829-adz819gj 149 32 potential potential JJ cord-285829-adz819gj 149 33 explanations explanation NNS cord-285829-adz819gj 149 34 for for IN cord-285829-adz819gj 149 35 the the DT cord-285829-adz819gj 149 36 findings finding NNS cord-285829-adz819gj 149 37 in in IN cord-285829-adz819gj 149 38 this this DT cord-285829-adz819gj 149 39 paper paper NN cord-285829-adz819gj 149 40 . . . cord-285829-adz819gj 150 1 As as IN cord-285829-adz819gj 150 2 the the DT cord-285829-adz819gj 150 3 COVID-19 COVID-19 NNP cord-285829-adz819gj 150 4 pandemic pandemic NN cord-285829-adz819gj 150 5 has have VBZ cord-285829-adz819gj 150 6 been be VBN cord-285829-adz819gj 150 7 ongoing ongoing JJ cord-285829-adz819gj 150 8 , , , cord-285829-adz819gj 150 9 our -PRON- PRP$ cord-285829-adz819gj 150 10 results result NNS cord-285829-adz819gj 150 11 call call VBP cord-285829-adz819gj 150 12 for for IN cord-285829-adz819gj 150 13 the the DT cord-285829-adz819gj 150 14 policy policy NN cord-285829-adz819gj 150 15 implications implication NNS cord-285829-adz819gj 150 16 below below RB cord-285829-adz819gj 150 17 . . . cord-285829-adz819gj 151 1 We -PRON- PRP cord-285829-adz819gj 151 2 understand understand VBP cord-285829-adz819gj 151 3 that that IN cord-285829-adz819gj 151 4 the the DT cord-285829-adz819gj 151 5 government government NN cord-285829-adz819gj 151 6 in in IN cord-285829-adz819gj 151 7 each each DT cord-285829-adz819gj 151 8 country country NN cord-285829-adz819gj 151 9 is be VBZ cord-285829-adz819gj 151 10 at at IN cord-285829-adz819gj 151 11 an an DT cord-285829-adz819gj 151 12 intersection intersection NN cord-285829-adz819gj 151 13 - - : cord-285829-adz819gj 151 14 whether whether IN cord-285829-adz819gj 151 15 to to TO cord-285829-adz819gj 151 16 provide provide VB cord-285829-adz819gj 151 17 financial financial JJ cord-285829-adz819gj 151 18 support support NN cord-285829-adz819gj 151 19 or or CC cord-285829-adz819gj 151 20 guarantee guarantee VB cord-285829-adz819gj 151 21 existing exist VBG cord-285829-adz819gj 151 22 debt debt NN cord-285829-adz819gj 151 23 , , , cord-285829-adz819gj 151 24 or or CC cord-285829-adz819gj 151 25 to to TO cord-285829-adz819gj 151 26 believe believe VB cord-285829-adz819gj 151 27 in in IN cord-285829-adz819gj 151 28 market market NN cord-285829-adz819gj 151 29 mechanisms mechanism NNS cord-285829-adz819gj 151 30 and and CC cord-285829-adz819gj 151 31 let let VB cord-285829-adz819gj 151 32 the the DT cord-285829-adz819gj 151 33 airline airline NN cord-285829-adz819gj 151 34 firms firm NNS cord-285829-adz819gj 151 35 file file VBP cord-285829-adz819gj 151 36 for for IN cord-285829-adz819gj 151 37 bankruptcy bankruptcy NN cord-285829-adz819gj 151 38 . . . cord-285829-adz819gj 152 1 In in IN cord-285829-adz819gj 152 2 order order NN cord-285829-adz819gj 152 3 to to TO cord-285829-adz819gj 152 4 back back VB cord-285829-adz819gj 152 5 up up RP cord-285829-adz819gj 152 6 the the DT cord-285829-adz819gj 152 7 airline airline NN cord-285829-adz819gj 152 8 industry industry NN cord-285829-adz819gj 152 9 , , , cord-285829-adz819gj 152 10 several several JJ cord-285829-adz819gj 152 11 alleviation alleviation NN cord-285829-adz819gj 152 12 policies policy NNS cord-285829-adz819gj 152 13 may may MD cord-285829-adz819gj 152 14 deal deal VB cord-285829-adz819gj 152 15 with with IN cord-285829-adz819gj 152 16 mergers merger NNS cord-285829-adz819gj 152 17 and and CC cord-285829-adz819gj 152 18 acquisitions acquisition NNS cord-285829-adz819gj 152 19 , , , cord-285829-adz819gj 152 20 tax tax NN cord-285829-adz819gj 152 21 policy policy NN cord-285829-adz819gj 152 22 , , , cord-285829-adz819gj 152 23 and and CC cord-285829-adz819gj 152 24 government government NN cord-285829-adz819gj 152 25 subsidies subsidy NNS cord-285829-adz819gj 152 26 . . . cord-285829-adz819gj 153 1 These these DT cord-285829-adz819gj 153 2 policies policy NNS cord-285829-adz819gj 153 3 , , , cord-285829-adz819gj 153 4 of of IN cord-285829-adz819gj 153 5 course course NN cord-285829-adz819gj 153 6 , , , cord-285829-adz819gj 153 7 will will MD cord-285829-adz819gj 153 8 increase increase VB cord-285829-adz819gj 153 9 the the DT cord-285829-adz819gj 153 10 national national JJ cord-285829-adz819gj 153 11 debt debt NN cord-285829-adz819gj 153 12 of of IN cord-285829-adz819gj 153 13 society society NN cord-285829-adz819gj 153 14 . . . cord-285829-adz819gj 154 1 Otherwise otherwise RB cord-285829-adz819gj 154 2 , , , cord-285829-adz819gj 154 3 firm firm JJ cord-285829-adz819gj 154 4 liquidation liquidation NN cord-285829-adz819gj 154 5 in in IN cord-285829-adz819gj 154 6 the the DT cord-285829-adz819gj 154 7 airlines airline NNS cord-285829-adz819gj 154 8 is be VBZ cord-285829-adz819gj 154 9 , , , cord-285829-adz819gj 154 10 perhaps perhaps RB cord-285829-adz819gj 154 11 , , , cord-285829-adz819gj 154 12 inevitable inevitable JJ cord-285829-adz819gj 154 13 and and CC cord-285829-adz819gj 154 14 subsequently subsequently RB cord-285829-adz819gj 154 15 will will MD cord-285829-adz819gj 154 16 disrupt disrupt VB cord-285829-adz819gj 154 17 the the DT cord-285829-adz819gj 154 18 global global JJ cord-285829-adz819gj 154 19 supply supply NN cord-285829-adz819gj 154 20 chain chain NN cord-285829-adz819gj 154 21 and and CC cord-285829-adz819gj 154 22 related related JJ cord-285829-adz819gj 154 23 businesses business NNS cord-285829-adz819gj 154 24 . . . cord-285829-adz819gj 155 1 School school NN cord-285829-adz819gj 155 2 . . . cord-285829-adz819gj 156 1 Page page NN cord-285829-adz819gj 156 2 13 13 CD cord-285829-adz819gj 156 3 of of IN cord-285829-adz819gj 156 4 18 18 CD cord-285829-adz819gj 156 5 _SP cord-285829-adz819gj 156 6 Measuring measure VBG cord-285829-adz819gj 156 7 security security NN cord-285829-adz819gj 156 8 price price NN cord-285829-adz819gj 156 9 performance performance NN cord-285829-adz819gj 156 10 Using use VBG cord-285829-adz819gj 156 11 daily daily JJ cord-285829-adz819gj 156 12 stock stock NN cord-285829-adz819gj 156 13 returns return NNS cord-285829-adz819gj 156 14 : : : cord-285829-adz819gj 156 15 The the DT cord-285829-adz819gj 156 16 case case NN cord-285829-adz819gj 156 17 of of IN cord-285829-adz819gj 156 18 event event NN cord-285829-adz819gj 156 19 studies study NNS cord-285829-adz819gj 156 20 Corporate corporate JJ cord-285829-adz819gj 156 21 immunity immunity NN cord-285829-adz819gj 156 22 to to IN cord-285829-adz819gj 156 23 the the DT cord-285829-adz819gj 156 24 COVID-19 covid-19 CD cord-285829-adz819gj 156 25 pandemic pandemic NN cord-285829-adz819gj 156 26 NBER NBER NNP cord-285829-adz819gj 156 27 Working Working NNP cord-285829-adz819gj 156 28 Paper Paper NNP cord-285829-adz819gj 157 1 No no UH cord-285829-adz819gj 157 2 . . NN cord-285829-adz819gj 157 3 27055 27055 CD cord-285829-adz819gj 157 4 Coronavirus Coronavirus NNP cord-285829-adz819gj 157 5 : : : cord-285829-adz819gj 157 6 The the DT cord-285829-adz819gj 157 7 world world NN cord-285829-adz819gj 157 8 in in IN cord-285829-adz819gj 157 9 lockdown lockdown NN cord-285829-adz819gj 157 10 in in IN cord-285829-adz819gj 157 11 maps map NNS cord-285829-adz819gj 157 12 and and CC cord-285829-adz819gj 157 13 charts chart NNS cord-285829-adz819gj 157 14 Efficient efficient JJ cord-285829-adz819gj 157 15 capital capital NN cord-285829-adz819gj 157 16 markets market NNS cord-285829-adz819gj 157 17 : : : cord-285829-adz819gj 157 18 A a DT cord-285829-adz819gj 157 19 review review NN cord-285829-adz819gj 157 20 of of IN cord-285829-adz819gj 157 21 theory theory NN cord-285829-adz819gj 157 22 and and CC cord-285829-adz819gj 157 23 empirical empirical JJ cord-285829-adz819gj 157 24 work work NN cord-285829-adz819gj 158 1 Efficient efficient JJ cord-285829-adz819gj 158 2 capital capital NN cord-285829-adz819gj 158 3 markets market NNS cord-285829-adz819gj 158 4 : : : cord-285829-adz819gj 158 5 II II NNP cord-285829-adz819gj 158 6 The the DT cord-285829-adz819gj 158 7 adjustment adjustment NN cord-285829-adz819gj 158 8 of of IN cord-285829-adz819gj 158 9 stock stock NN cord-285829-adz819gj 158 10 prices price NNS cord-285829-adz819gj 158 11 to to IN cord-285829-adz819gj 158 12 new new JJ cord-285829-adz819gj 158 13 information information NN cord-285829-adz819gj 158 14 International international JJ cord-285829-adz819gj 158 15 transmission transmission NN cord-285829-adz819gj 158 16 of of IN cord-285829-adz819gj 158 17 shocks shock NNS cord-285829-adz819gj 158 18 in in IN cord-285829-adz819gj 158 19 the the DT cord-285829-adz819gj 158 20 airline airline NN cord-285829-adz819gj 158 21 industry industry NN cord-285829-adz819gj 159 1 The the DT cord-285829-adz819gj 159 2 information information NN cord-285829-adz819gj 159 3 content content NN cord-285829-adz819gj 159 4 of of IN cord-285829-adz819gj 159 5 earnings earning NNS cord-285829-adz819gj 159 6 releases release NNS cord-285829-adz819gj 159 7 by by IN cord-285829-adz819gj 159 8 global global JJ cord-285829-adz819gj 159 9 airlines airline NNS cord-285829-adz819gj 159 10 International International NNP cord-285829-adz819gj 159 11 oligopoly oligopoly NN cord-285829-adz819gj 159 12 and and CC cord-285829-adz819gj 159 13 stock stock NN cord-285829-adz819gj 159 14 market market NN cord-285829-adz819gj 159 15 linkages linkage NNS cord-285829-adz819gj 159 16 : : : cord-285829-adz819gj 159 17 The the DT cord-285829-adz819gj 159 18 case case NN cord-285829-adz819gj 159 19 of of IN cord-285829-adz819gj 159 20 global global JJ cord-285829-adz819gj 159 21 airlines airline NNS cord-285829-adz819gj 159 22 Do do VBP cord-285829-adz819gj 159 23 airlines airline NNS cord-285829-adz819gj 159 24 always always RB cord-285829-adz819gj 159 25 suffer suffer VB cord-285829-adz819gj 159 26 from from IN cord-285829-adz819gj 159 27 crashes crash NNS cord-285829-adz819gj 159 28 ? ? . cord-285829-adz819gj 160 1 Sentiment sentiment NN cord-285829-adz819gj 160 2 and and CC cord-285829-adz819gj 160 3 stock stock NN cord-285829-adz819gj 160 4 prices price NNS cord-285829-adz819gj 160 5 : : : cord-285829-adz819gj 160 6 The the DT cord-285829-adz819gj 160 7 case case NN cord-285829-adz819gj 160 8 of of IN cord-285829-adz819gj 160 9 aviation aviation NN cord-285829-adz819gj 160 10 disasters disaster NNS cord-285829-adz819gj 160 11 Government Government NNP cord-285829-adz819gj 160 12 to to TO cord-285829-adz819gj 160 13 roll roll VB cord-285829-adz819gj 160 14 out out RP cord-285829-adz819gj 160 15 additional additional JJ cord-285829-adz819gj 160 16 support support NN cord-285829-adz819gj 160 17 plan plan NN cord-285829-adz819gj 160 18 for for IN cord-285829-adz819gj 160 19 COVID-19-hit COVID-19-hit NNP cord-285829-adz819gj 160 20 aviation aviation NN cord-285829-adz819gj 160 21 industry industry NN cord-285829-adz819gj 161 1 The the DT cord-285829-adz819gj 161 2 impact impact NN cord-285829-adz819gj 161 3 of of IN cord-285829-adz819gj 161 4 SARS SARS NNP cord-285829-adz819gj 161 5 on on IN cord-285829-adz819gj 161 6 the the DT cord-285829-adz819gj 161 7 performance performance NN cord-285829-adz819gj 161 8 and and CC cord-285829-adz819gj 161 9 risk risk NN cord-285829-adz819gj 161 10 profile profile NN cord-285829-adz819gj 161 11 of of IN cord-285829-adz819gj 161 12 airline airline NN cord-285829-adz819gj 161 13 stocks stock NNS cord-285829-adz819gj 162 1 An an DT cord-285829-adz819gj 162 2 analysis analysis NN cord-285829-adz819gj 162 3 of of IN cord-285829-adz819gj 162 4 key key JJ cord-285829-adz819gj 162 5 factors factor NNS cord-285829-adz819gj 162 6 of of IN cord-285829-adz819gj 162 7 financial financial JJ cord-285829-adz819gj 162 8 distress distress NN cord-285829-adz819gj 162 9 in in IN cord-285829-adz819gj 162 10 airline airline NN cord-285829-adz819gj 162 11 companies company NNS cord-285829-adz819gj 162 12 in in IN cord-285829-adz819gj 162 13 India India NNP cord-285829-adz819gj 162 14 using use VBG cord-285829-adz819gj 162 15 fuzzy fuzzy JJ cord-285829-adz819gj 162 16 AHP AHP NNP cord-285829-adz819gj 162 17 framework framework NN cord-285829-adz819gj 162 18 Event event NN cord-285829-adz819gj 162 19 studies study NNS cord-285829-adz819gj 162 20 in in IN cord-285829-adz819gj 162 21 management management NN cord-285829-adz819gj 162 22 research research NN cord-285829-adz819gj 162 23 : : : cord-285829-adz819gj 162 24 Theoretical theoretical JJ cord-285829-adz819gj 162 25 and and CC cord-285829-adz819gj 162 26 empirical empirical JJ cord-285829-adz819gj 162 27 issues issue NNS cord-285829-adz819gj 162 28 A a DT cord-285829-adz819gj 162 29 guide guide NN cord-285829-adz819gj 162 30 to to IN cord-285829-adz819gj 162 31 using use VBG cord-285829-adz819gj 162 32 event event NN cord-285829-adz819gj 162 33 study study NN cord-285829-adz819gj 162 34 methods method NNS cord-285829-adz819gj 162 35 in in IN cord-285829-adz819gj 162 36 multi multi JJ cord-285829-adz819gj 162 37 country country NN cord-285829-adz819gj 162 38 settings setting NNS cord-285829-adz819gj 162 39 Feverish feverish JJ cord-285829-adz819gj 162 40 stock stock NN cord-285829-adz819gj 162 41 price price NN cord-285829-adz819gj 162 42 reactions reaction NNS cord-285829-adz819gj 162 43 to to IN cord-285829-adz819gj 162 44 COVID-19 covid-19 VB cord-285829-adz819gj 162 45 . . . cord-285829-adz819gj 163 1 Forthcoming forthcoming JJ cord-285829-adz819gj 163 2 , , , cord-285829-adz819gj 163 3 Review Review NNP cord-285829-adz819gj 163 4 of of IN cord-285829-adz819gj 163 5 Corporate Corporate NNP cord-285829-adz819gj 163 6 Finance Finance NNP cord-285829-adz819gj 163 7 Studies Studies NNPS cord-285829-adz819gj 164 1 What what WP cord-285829-adz819gj 164 2 do do VBP cord-285829-adz819gj 164 3 we -PRON- PRP cord-285829-adz819gj 164 4 learn learn VB cord-285829-adz819gj 164 5 from from IN cord-285829-adz819gj 164 6 SARS SARS NNP cord-285829-adz819gj 164 7 - - HYPH cord-285829-adz819gj 164 8 CoV-1 CoV-1 NNP cord-285829-adz819gj 164 9 to to IN cord-285829-adz819gj 164 10 SARS SARS NNP cord-285829-adz819gj 164 11 - - HYPH cord-285829-adz819gj 164 12 CoV-2 CoV-2 NNP cord-285829-adz819gj 164 13 : : : cord-285829-adz819gj 165 1 Evidence evidence NN cord-285829-adz819gj 165 2 from from IN cord-285829-adz819gj 165 3 global global JJ cord-285829-adz819gj 165 4 stock stock NN cord-285829-adz819gj 165 5 markets market NNS cord-285829-adz819gj 165 6 COVID-19 covid-19 VBP cord-285829-adz819gj 165 7 and and CC cord-285829-adz819gj 165 8 airline airline NN cord-285829-adz819gj 165 9 employment employment NN cord-285829-adz819gj 165 10 : : : cord-285829-adz819gj 166 1 Insights insight NNS cord-285829-adz819gj 166 2 from from IN cord-285829-adz819gj 166 3 historical historical JJ cord-285829-adz819gj 166 4 uncertainty uncertainty NN cord-285829-adz819gj 166 5 shocks shock NNS cord-285829-adz819gj 166 6 to to IN cord-285829-adz819gj 166 7 the the DT cord-285829-adz819gj 166 8 industry industry NN cord-285829-adz819gj 166 9 Transportation Transportation NNP cord-285829-adz819gj 166 10 Research Research NNP cord-285829-adz819gj 166 11 Interdisciplinary Interdisciplinary NNP cord-285829-adz819gj 166 12 Perspectives Perspectives NNPS cord-285829-adz819gj 166 13 World World NNP cord-285829-adz819gj 166 14 Health Health NNP cord-285829-adz819gj 166 15 Organization Organization NNP cord-285829-adz819gj 166 16 ( ( -LRB- cord-285829-adz819gj 166 17 WHO who WP cord-285829-adz819gj 166 18 ) ) -RRB- cord-285829-adz819gj 166 19 2020 2020 CD cord-285829-adz819gj 166 20 . . . cord-285829-adz819gj 167 1 WHO who WP cord-285829-adz819gj 167 2 Timeline Timeline NNP cord-285829-adz819gj 167 3 -COVID-19 -COVID-19 NNP