The Predicability of Strikes: Evidence from the Stock Market

George R. Neumann

ILR Review, 1980, vol. 33, issue 4, 525-535

Abstract: Discussions of strike activity, and in particular of the costs of strike activity, generally ignore the existence of capital markets. If strikes are costly and if they are predictable, the presence of capital markets limits the losses that can be imposed on firms. This paper examines the effect of strikes on the value of the firm as measured by the stock market. The results indicate that strikes do have a negative effect on the value of the firm, although not a very large one, and that the stock market predicts the occurrence of strikes efficiently.

Date: 1980
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ilrrev:v:33:y:1980:i:4:p:525-535

DOI: 10.1177/001979398003300407

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