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Union Coverage and Profitability among U.S. Firms

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  • Hirsch, Barry T

Abstract

This paper utilizes unique survey data on labor union coverage at the firm level to examine union effects on the profitability of 705 U.S. companies during the 1970s. Market value and earnings are estimated to be about 10 percent-15 percent lower in an average unionized company than in a nonunion company, following extensive control for firm and industry characteristics. Deleterious union effects on firm profitability are sizable throughout the 1972-80 period, but vary considerably across industries. The relatively poor profit performance of unionized companies may help explain the recent decline in U.S. union membership. Copyright 1991 by MIT Press.

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Bibliographic Info

Article provided by MIT Press in its journal Review of Economics & Statistics.

Volume (Year): 73 (1991)
Issue (Month): 1 (February)
Pages: 69-77

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Handle: RePEc:tpr:restat:v:73:y:1991:i:1:p:69-77

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Web page: http://mitpress.mit.edu/journals/

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Web: http://mitpress.mit.edu/journal-home.tcl?issn=00346535

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Cited by:
  1. Anginer, Deniz & Warburton, A. Joseph, 2014. "The Chrysler effect: The impact of government intervention on borrowing costs," Journal of Banking & Finance, Elsevier, vol. 40(C), pages 62-79.
  2. Anginer, Deniz & Warburton, A. Joseph, 2010. "The Chrysler effect : the impact of the Chrysler bailout on borrowing costs," Policy Research Working Paper Series 5462, The World Bank.
  3. Hirsch, Barry, 2007. "Sluggish Institutions in a Dynamic World: Can Unions and Industrial Competition Coexist?," IZA Discussion Papers 2930, Institute for the Study of Labor (IZA).
  4. G. Cardullo & M. Conti & G. Sulis, 2012. "Sunk Capital, Unions and the Hold-Up Problem: Theory and Evidence from Sectoral Data," Working Paper CRENoS 201226, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  5. Chris Doucouliagos & Patrice Laroche, 2007. "Unions and Profitability: A Meta-Analysis," Economics Series 2007_01, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
  6. Galema, Rients & Plantinga, Auke & Scholtens, Bert, 2008. "The stocks at stake: Return and risk in socially responsible investment," Journal of Banking & Finance, Elsevier, vol. 32(12), pages 2646-2654, December.
  7. Fang, Tony & Ge, Ying, 2013. "Chinese Unions and Enterprises Performance," IZA Discussion Papers 7870, Institute for the Study of Labor (IZA).
  8. Shameek Konar & Mark A. Cohen, 2001. "Does The Market Value Environmental Performance?," The Review of Economics and Statistics, MIT Press, vol. 83(2), pages 281-289, May.
  9. Park, Timothy A., 2007. "Evaluating Labor Productivity in Food Retailing," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 9939, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  10. Ilias Kapareliotis & Anastassios Panopoulos, 2010. "The determinants of brand equity: The case of Greek quoted firms," Managerial Finance, Emerald Group Publishing, vol. 36(3), pages 225-233, March.
  11. Patrice Laroche & Hristos Doucouliagos, 2009. "Unions and Profits: A meta-regression Analysis," Post-Print hal-00648569, HAL.

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