LABOR LAWS AND FIRM PERFORMANCE
| Autor: | Dalia Marciukaityte |
|---|---|
| Rok vydání: | 2018 |
| Předmět: |
040101 forestry
Alternative methods Labour economics 050208 finance Natural experiment Earnings 05 social sciences Market reaction 04 agricultural and veterinary sciences Accounting Law 0502 economics and business Economics 0401 agriculture forestry and fisheries Profitability index Finance Stock (geology) |
| Zdroj: | Journal of Financial Research. 41:5-32 |
| ISSN: | 0270-2592 |
| DOI: | 10.1111/jfir.12137 |
| Popis: | U.S. labor laws impose higher costs on unionized firms in states without right†to†work (RTW) laws. I find that these firms experience poor stock performance. The difference†in†differences analysis comparing the effect of RTW laws on unionized and nonunionized firms shows that unionized firms in states without RTW laws underperform by about 7 percentage points per year. I find further evidence of underperformance using alternative methods to estimate abnormal stock performance, examining a natural experiment, showing expected cross†sectional patterns, and assessing profitability and the market reaction to earnings announcements. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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