Union Organizing Activity, Firm Growth, and the Business Cycle

Stephen Bronars () and Donald R Deere

American Economic Review, 1993, vol. 83, issue 1, 203-20

Abstract: This paper analyzes the relationship between changes in unionization and firm growth. Average growth is significantly low er in manufacturing firms that experience successful union elections bu t these strong "effects" are largely illusory. The authors find no evidence of a significant relationship between unionization and firm growth, despite a strong cyclical pattern in election activity. Thei r results suggest that the significant negative effect of organizing activity on a firm's market value is not accompanied by any growth changes. The authors, therefore, cannot reject the hypothesis that t he equity losses from union election activity represent a simple transf er of wealth from shareholders to workers. Copyright 1993 by American Economic Association.

Date: 1993
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