| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5089247 | Journal of Banking & Finance | 2013 | 11 Pages |
Abstract
⺠We examine how labor unions affect investment-cash flow sensitivity in a US sample. ⺠Unionized firms are associated with higher investment-cash flow sensitivity. ⺠The union effect holds when we control for other proxies of financial constraints. ⺠The union effect is associated with firms' incentive to reduce liquidity and thereby enhance bargaining power. ⺠The union effect is stronger when firms are negotiating new contracts with unions.
Related Topics
Social Sciences and Humanities
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Economics and Econometrics
Authors
Yan-Shing Chen, I-Ju Chen,