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.
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Pouder, R.W., Hindman, H.D. & Cantrell, R.S. How unions affect shareholder wealth in firms announcing layoffs. J Labor Res 25, 495–502 (2004). https://doi.org/10.1007/s12122-004-1027-4
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DOI: https://doi.org/10.1007/s12122-004-1027-4