Performances à long terme et caractéristiques financières des entreprises qui réduisent leurs effectifs

Patrick Sentis

Revue Finance Contrôle Stratégie, 1998, vol. 1, issue 4, pages 115-150

Abstract: Using data for 1991-1995 on 90 large firms which have a minimum drop of 10 % in their total staff, we investigate whether corporate performance and shareholder wealth are related to staff reduction. More specifically, we test the wealth redistribution hypothesis between shareholders and employees when a firm reduces its staff. We find that staff reduction leads to a weak improvement of corporate performance and that industry-adjusted shareholder return is positively related to change in wealth allocated to staff.

Keywords: employees reductions; performance of the firm; stock return; stockholders and employees conflicts. (search for similar items in EconPapers)
Date: 1998

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Persistent link: http://EconPapers.repec.org/RePEc:dij:revfcs:v:1:y:1998:i:q4:p:115-150

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