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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w7794 |
来源ID | Working Paper 7794 |
When Unions \"Mattered\": Assessing the Impact of Strikes on Financial Markets: 1925-1937 | |
John DiNardo; Kevin F. Hallock | |
发表日期 | 2000-07-01 |
出版年 | 2000 |
语种 | 英语 |
摘要 | Combining information from labor historians and using techniques from finance we analyze the strikes that labor historians have agreed are pivotal in American history' during the period 1925-1937. Using information we collected on strike dates and historical financial market stock price data we assess the financial market's view of these conflicts. We study the effects of major strikes between the world wars on detailed industry stock prices. We find that strikes have large, negative effects on industry stock value. We also find that longer strikes, violent strikes, strikes where unions win,' industry-wide strikes, strikes that lead to union recognition, and strikes that lead to large wage increases lead to larger negative share price reactions than other strikes. Also, our analysis shows that most of the news' in a strike seems to be incorporated very early on in the strike. Our analysis strongly suggests that although the financial markets generally expected unions to lose,' they viewed union victories as quite important determinants of the share of firm profits going to stockholders. |
主题 | Labor Economics ; Labor Relations ; Financial Economics ; Corporate Finance |
URL | https://www.nber.org/papers/w7794 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565366 |
推荐引用方式 GB/T 7714 | John DiNardo,Kevin F. Hallock. When Unions \"Mattered\": Assessing the Impact of Strikes on Financial Markets: 1925-1937. 2000. |
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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w7794.pdf(275KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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