| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27997 |
| 来源ID | Working Paper 27997 |
| An Executive Order Worth $100 Billion: The Impact of an Immigration Ban\u2019s Announcement on Fortune 500 Firms\u2019 Valuation | |
| Dany Bahar; Prithwiraj Choudhury; Britta Glennon | |
| 发表日期 | 2020-10-26 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | On June 22, 2020, President Trump issued an Executive Order (EO) that suspended new work visas, barring nearly 200,000 foreign workers and their dependents from entering the United States and preventing American companies from hiring skilled immigrants using H-1B or L1 visas. Exploiting this shock, and using event study methodology analyzing the cumulative average abnormal returns (CAARs) of Fortune 500 companies following this order, we find that the EO statistically and economically significantly caused negative CAARs of up to 0.45%, the equivalent of over 100 billion of US dollars of losses, based on the firms’ valuation before the event. Our results are particularly pronounced for firms that had maintained or increased their reliance on skilled immigrant workers over the prior years. |
| 主题 | Financial Economics ; Financial Markets ; Corporate Finance ; Labor Economics ; Unemployment and Immigration |
| URL | https://www.nber.org/papers/w27997 |
| 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/585670 |
| 推荐引用方式 GB/T 7714 | Dany Bahar,Prithwiraj Choudhury,Britta Glennon. An Executive Order Worth $100 Billion: The Impact of an Immigration Ban\u2019s Announcement on Fortune 500 Firms\u2019 Valuation. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27997.pdf（498KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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