We compare the management discussion and analysis sections (MD&As) of 1) Korean and Chinese airlines in their home countries, with different MD&A regulations; 2) a Chinese airline dual-listed in both the Chinese and U.S. markets, with different levels of information disclosure discretion; and 3)...

Numerous studies on the aviation industry have confirmed that significant benefits can be brought by liberalizing the international market. After a comprehensive review of the recent studies on this issue, Fu and Oum (2014) concluded that there is strong evidence that liberalisation introduces...