G2TT
来源类型Discussion paper
规范类型论文
来源IDDP12595
DP12595 Unionization, Cash, and Leverage
Martin Schmalz
发表日期2018-01-15
出版年2018
语种英语
摘要What is the effect of unionization on corporate financial policies? The average unionized firm responds with lower cash and higher leverage to a unionization election than the average firm escaping unionization. However, using a regression discontinuity design I find that the causal effect of unionization is close to zero on average, but heterogeneous across firms. For the subset of large and financially unconstrained firms, the causal effect is positive on leverage and negative on cash; the opposite is true for small and financially constrained firms. These results help reconcile controversially discussed views on how corporate finance and labor interact.
主题Financial Economics ; Labour Economics
关键词Capital structure Cash Risk management Labor adjustment costs Unionization Regression discontinuity
URLhttps://cepr.org/publications/dp12595
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/541406
推荐引用方式
GB/T 7714
Martin Schmalz. DP12595 Unionization, Cash, and Leverage. 2018.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Martin Schmalz]的文章
百度学术
百度学术中相似的文章
[Martin Schmalz]的文章
必应学术
必应学术中相似的文章
[Martin Schmalz]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。