““CEOs go to their vacation homes just after companies report favorable news, and CEOs return to headquarters right before subsequent news is released. More good news is released when CEOs are back at work, and CEOs appear not to leave headquarters at all if a firm has adverse news to disclose. When CEOs are away from the office, stock prices behave quietly with sharply lower volatility. Volatility increases immediately when CEOs return to work.” —David Yermack, a New York University finance professor, whose recently released study shows a correlation between when CEOs take their private jets on vacation and movements in their companies’ stock price ”
China's Bizjet Registry Soars into Triple Digits
China's business aviation sector took a leap forward last year when the number of private jets registered in the country reached 116, according to a report from the Firestone Management Group. The report, which advises companies how to break into the emerging Asia-Pacific market, covers jets registered as of January 15 in the People's Republic of China, Hong Kong and Macau. According to managing director Justin Lee Firestone, the past few years have seen increasing sales of midsize aircraft in the Greater China market, which has previously been dominated by large-cabin jets. Gulfstream Aerospace continues to lead in the Chinese market, with 43 aircraft sold there to date, accounting for a 37-percent market share. Cessna has 24 Citations in China (21-percent market share); Bombardier has 21 jets there (18 percent); Hawker Beechcraft has 18 (15 percent); and Dassault, Airbus and Boeing, respectively, have six, three and one.