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Motive für große Personalabbaupläne, der Verlust von Humankapital und Börsenreaktionen – Eine Analyse der globalen Luftfahrtindustrie

  • Robert Fraunhoffer
  • Mark Mietzner
  • Dirk Schiereck
  • Yann Schneider
Chapter
Part of the Managementforschung book series (MGTF, volume 24)

Zusammenfassung

Die vorliegende Untersuchung legt ihren Fokus auf ein besonders kritisch diskutiertes Spannungsfeld zwischen Personalmanagement und den internationalen Kapitalmärkten. Mithilfe der Ereignisstudienmethodik werden die Auswirkungen von Entlassungsankündigungen auf den Vermögenswert von global agierenden Fluggesellschaften analysiert. Für den Zeitraum 2003 bis 2012 wurden 84 Entlassungsankündigungen von 22 Fluggesellschaften ausgewertet. Hierbei zeigt sich, dass eine Pauschalisierung der Kursreaktionen nicht möglich ist, sondern vielmehr die spezifischen Motive und die Ausgestaltung des Personalabbaus von Relevanz sind. Angekündigte Massenentlassungen steigern nicht per se immer, wie häufig unterstellt, sondern nur in einem spezifischen Kontext den Börsenwert der Arbeitgeber. Insbesondere wirken sich proaktive Maßnahmen, die im Rahmen einer Restrukturierung umgesetzt werden, positiv auf den Shareholder-Value aus.

Ereignisstudie Kapitalmarktreaktion Luftfahrtindustrie Personalabbau Restrukturierung 

Abstract

The present study focusses on the controversial issues between human resource management and international capital markets. It analyzes the impact of layoff announcements on the market value of the global airline sector while utilizing the event study methodology. Between 2003 and 2012, 84 redundancy plans were announced by 22 airlines. The empirical evidence underlines that there is no generalization of the capital market’s reaction to these announcements; it is rather the very specific layoff motive that drives the market perception. In particular, proactive measures with a focus on restructuring show a positive impact on the shareholder value.

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Copyright information

© Springer Fachmedien Wiesbaden 2014

Authors and Affiliations

  • Robert Fraunhoffer
    • 1
  • Mark Mietzner
    • 2
  • Dirk Schiereck
    • 3
  • Yann Schneider
    • 4
  1. 1.Fachbereich Rechts- und WirtschaftswissenschaftenTechnische Universität DarmstadtDarmstadtDeutschland
  2. 2.Friedrichshafener Institut für Familienunternehmen (FIF)Friedrichshafen/BodenseeDeutschland
  3. 3.Fachbereich Rechts- und WirtschaftswissenschaftenTechnische Universität DarmstadtDarmstadtDeutschland
  4. 4.Fachbereich Rechts- und WirtschaftswissenschaftenTechnische Universität DarmstadtDarmstadtDeutschland

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