Does Capital Structure Affect the Behavior of Non-Financial Stakeholders? An Empirical Investigation Into Leverage and Union Strikes

Does Capital Structure Affect the Behavior of Non-Financial Stakeholders? An Empirical Investigation Into Leverage and Union Strikes
Author: Brett W. Myers
Publisher:
Total Pages: 34
Release: 2016
Genre:
ISBN:

We use contract negotiation data to study how leverage affects the interaction between firms and an important non-financial stakeholder, labor unions. Consistent with the idea that leverage diminishes the bargaining position of labor, we find that unions are less likely to strike when a firm has high leverage or increases leverage prior to a contract negotiation. We also find large leverage increases after a strike, consistent with the idea that firms intentionally use leverage to improve their bargaining position. This post-strike increase in leverage particularly pronounced when the union wins the strike. Moreover, we do not find any clear indication that such increases in leverage are linked to changes in investments. In addition, firms that experience a strike subsequently invest more internationally and in right-to-work states where union are afforded fewer legal protections, and they increase their disposal of production units that are located in states where strikes have occurred.

Empirical Capital Structure

Empirical Capital Structure
Author: Christopher Parsons
Publisher: Now Publishers Inc
Total Pages: 107
Release: 2009
Genre: Business & Economics
ISBN: 160198202X

Empirical Capital Structure reviews the empirical capital structure literature from both the cross-sectional determinants of capital structure as well as time-series changes.

Fundamentals of Business (black and White)

Fundamentals of Business (black and White)
Author: Stephen J. Skripak
Publisher:
Total Pages: 442
Release: 2016-07-29
Genre:
ISBN: 9780997920116

(Black & White version) Fundamentals of Business was created for Virginia Tech's MGT 1104 Foundations of Business through a collaboration between the Pamplin College of Business and Virginia Tech Libraries. This book is freely available at: http://hdl.handle.net/10919/70961 It is licensed with a Creative Commons-NonCommercial ShareAlike 3.0 license.

Strike Ballots, Democracy, and Law

Strike Ballots, Democracy, and Law
Author: Breen Creighton
Publisher: Oxford University Press
Total Pages: 320
Release: 2020-11-05
Genre: Law
ISBN: 0192642634

International law and most national legal systems recognize the right to strike as a fundamental human right. However, the most common qualification for a strike is that the action must first be approved by ballot. These types of requirements are often said to be necessary to protect the democratic rights of the workers - the so-called democratic imperative. But is that truly their aim? This book draws on detailed empirical study of the Australian legislative provisions for pre-strike ballots; a comparative analysis of law and practice in a range of countries including Canada, South Africa, the United States, and the United Kingdom; and the approaches of the supervisory bodies of the International Labour Organisation to evaluate the true purpose and effect of the ballot requirement. While in some cases the ballot requirement provided additional bargaining leverage for unions, overall, the study showed that the principle purpose of ballot requirements is to curtail strikes rather than vindicate the democratic imperative it claims to support. Exploring collective bargaining and union democracy, this is an essential title for those involved in or studying labour law. This book also demonstrates the fundamental shortcomings of ballot regimes, and provides and accessible exploration of the operation of said regimes, which makes this a helpful tool for unionists to understand their rights as workers. It also considers significant policy questions in the field and is relevant in the respect of the international labour law regime.

Collective Bargaining in Education

Collective Bargaining in Education
Author: Jane Hannaway
Publisher: Harvard Education Press
Total Pages: 396
Release: 2006-02-01
Genre: Education
ISBN: 1612500080

This timely and comprehensive volume will spur and strengthen public debate over the role of teachers unions in education reform for years to come. Collective bargaining shapes the way public schools are organized, financed, staffed, and operated. Understanding collective bargaining in education and its impact on the day-to-day life of schools is critical to designing and implementing reforms that will successfully raise student achievement. But when it comes to public discussion of school reform, teachers unions are the proverbial elephant in the room. Despite the tremendous influence of teachers unions, there has not been a significant research-based book examining the role of collective bargaining in education in more than two decades. As a result, there is little basis for a constructive, empirically grounded dialogue about the role of teachers unions in education today.