| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12595 |
| 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 |
| URL | https://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。
