期刊名称：Academy of Accounting and Financial Studies Journal
印刷版ISSN：1096-3685
出版年度：2019
卷号：23
期号：3
页码：1-14
语种：English
出版社：The DreamCatchers Group, LLC
摘要：In this study, the financial and operational performance of 12 global LCCs before and after going public with IPOs are compared and analyzed. The analysis reveals that the current ratio increases and the leverage decreases in multiple sample enterprises after an IPO. It is also observed that profitability improves, although this finding is not consistent. These results indicate that enterprise liquidity improves and that management will actively seek improvement activities based on the inflow of large amounts of funding provided by the IPO. Asset turnover, which is an activity index, decreases, but this is interpreted as a temporary phenomenon that appears because the investment assets increase compared to sales as funds are secured. In addition, it is confirmed that after an IPO, operational performance indicators, including the load factor (seat occupancy), ASK (available seat kilometers), and RPK (revenue passenger kilometers), also improve..
