[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/sae/ilrrev/v47y1994i2p302-318.html
   My bibliography  Save this article

Shareholder Risk and Returns in Union and Nonunion Firms

Author

Listed:
  • Barry T. Hirsch
  • Barbara A. Morgan
Abstract
This study examines shareholder risk and rates of return in union and nonunion companies in 1973–87. Shareholder risk declined with the extent of union coverage in the 1970s, and returns were lower among highly unionized companies than among other companies during the late 1970s and early 1980s. Union-nonunion differences in risk were small and insignificant by the mid-1980s, however, and there was no systematic relationship between union coverage and shareholder returns in the mid-1970s or mid-1980s. Finally, firms with relatively low rates of return to investors in 1977–82 tended to experience larger than average declines in firm-level union coverage between 1977 and 1987. As a partial explanation for these findings, the authors posit a relationship between shareholder risk and the differential use of COLAs across industries and time.

Suggested Citation

  • Barry T. Hirsch & Barbara A. Morgan, 1994. "Shareholder Risk and Returns in Union and Nonunion Firms," ILR Review, Cornell University, ILR School, vol. 47(2), pages 302-318, January.
    • Handle: RePEc:sae:ilrrev:v:47:y:1994:i:2:p:302-318
    as

    Download full text from publisher

    File URL: http://ilr.sagepub.com/content/47/2/302.abstract
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Barry T. Hirsch, 2008. "Sluggish Institutions in a Dynamic World: Can Unions and Industrial Competition Coexist?," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 153-176, Winter.
    2. John T. Addison, 2005. "The Determinants Of Firm Performance: Unions, Works Councils, And Employee Involvement/High‐Performance Work Practices," Scottish Journal of Political Economy, Scottish Economic Society, vol. 52(3), pages 406-450, July.
    3. Adamson, Dwight W. & Partridge, Mark, 1994. "The Influence of International on Union Firm Hiring and Worker Union Choice," Economics Staff Papers 232237, South Dakota State University, Department of Economics.
    4. Jongmoo Jay Choi & Ming Ju & Jose M. Plehn-Dujowich & Xiaotian Tina Zhang, 2022. "Outsourcing as a cooperative game between the CEO and labor: theory and evidence," Review of Quantitative Finance and Accounting, Springer, vol. 59(3), pages 1095-1131, October.
    5. Eunice S. Han, 2024. "How did the COVID‐19 pandemic affect men's and women's returns to unionization?," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 63(2), pages 172-204, April.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:ilrrev:v:47:y:1994:i:2:p:302-318. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://www.ilr.cornell.edu .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.