How Unions Affect Shareholder Wealth in Firms Announcing Layoffs

Richard W. Pouder, Hugh D. Hindman and R. Stephen Cantrell

Journal of Labor Research, 2004, vol. 25, issue 3, 495-502

Abstract: We investigate whether investor anticipation of future performance differs between union and nonunion firms following corporate layoff announcements. Using event-study methodology and multivariate regression analysis, we find that the stock market reaction to layoff announcements is negatively related to nonunion firms and positively related to union firms.

Date: 2004
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