"Because dogs affected with aggression have an anxiety disorder and are using provocative behaviors to get information, physical punishment has no role here. If we follow the argument to its logical conclusion, physical punishment will remove any uncertainty and convince these dogs that the person punishing them is a threat. Accordingly, their aggression worsens. Hitting or beating a dog, kneeing the dog, using "alpha-wolf rolls," "wolf rolls," "dominance downs," "hanging" a dog from a leash and a choke collar until he or she is immobile, and "helicoptering" dogs are all excessively rough, abusive, inhumane treatments that have no place in correcting behavior or in behavior modification. The use of these techniques tells us a lot about human anger, makes the relationship with the pet an adversarial one, and shows a keen lack of understanding about what's been learned about aggression and anxiety."

by Karen Overall, MA, VMD, PhD, DACVB, ABS Certified Applied Animal Behaviorist

Please be aware of that there might be different meanings and definitions to the words "aversive" and "punishment".

An aversive stimulus is something that an animal will attempt to escape or avoid through their behavior. It can be noxious or unpleasant. Using aversive stimulation can be risky because of potential creation of fear, anxiety and pain associated with it. It can cause aggression, countercontrol, learned helplessness and social disruption. The use of aversive stimulation has been found to be less effective in the long run than methods based on positive reinforcement. (Aggressive Behavior in Dogs 2007, p. 273)

There can be problematic secondary effects when using methods that employ aversive stimulation. The animal may develop a bad conditioned emotional response to various stimuli that were present in the environment when the "punishment" was used. Aversive stimulation elicits both respondent and operant aggressive behavior (Azrin, Hutchinson, & Hake, 1967; Azrin, Hutchinson, & McLaughlin, 1965; Ulrich & Azrin, 1962), and the greater the duration of the stimulation the more likely you will get an aggressive reaction.

Punitive techniques are often used haphazardly and tend to produce globalized suppression of other behaviors, not just the target behavior you intended to "punish". 

Dominance-based ideology can lead to countercontrol.  Murry Sidman in his book Coercion and its Fallout (2001),  outlines many and various effects on the individual experiencing punishment and the one doing the punishing. Sidman, (2001, p. 214) explains that countercontrol happens when individuals learn "how to control their controllers." People with the mindset of "social dominance theory" interpret countercontrol as "dominance" related behavior. This allows for the owner to use more intense aversives to regain control, thus starting a vicious cycle that degrades the relationship, leading to long-standing behavior problems or euthanasia of the dog.

Usually when punishment is discontinued, the behavior reoccurs. So does the use of aversives and punishment-based training work? Well that all depends on your definition of "works".

Aversive stimulation happens to all living creatures on a daily basis. It's part of life and it guides much our behavior as it does our dogs. But the intentional use  of harsh aversive stimulation in the name of training or to change behavior, we need to understand both the potential pitfalls and consequences of this decision to use it. From an ethical point, it's important that a professional behavior consultant start with the least aversive intervention that would likely achieve the goal outcome.

Harsh punitive behavior is  maintained by reinforcement. The punisher is rewarded for the suppression of behaviors from the dog. People are highly motivated to suppress irritating, annoying and inappropriate behaviors. Neurochemistry in the punisher may also be reinforcing - the surges of hormones and neurotransmitters (such as testosterone, endorphins, cortisol and dopamine) occur while people apply harsh stimulation.

Aggressive, punitive behaviors often are used in context of frustration, an emotional reaction associated with frustrating conditions. People in these conditions tend to be more impulsive then having self-controlled choices.

Aggressive Behavior in Dogs by James O'Heare - 2007