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Right-to-Work Laws: New Evidence from the Stock Market

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  • Steven E. Abraham
  • Paula B. Voos

Abstract

This article is an empirical examination of whether or not stockholder wealth rises in response to passage of a right-to-work law—a state law banning union security clauses from collective bargaining agreements. Stockholder wealth rose when Louisiana passed such a law in 1976 and when Idaho did so in 1985–1986. Presumably this occurred because investors anticipated higher future profits with weaker labor unions or a lower probability of future organization. This is new evidence that such laws are more than symbolic: They hamper labor unions.

Suggested Citation

  • Steven E. Abraham & Paula B. Voos, 2000. "Right-to-Work Laws: New Evidence from the Stock Market," Southern Economic Journal, Southern Economic Association, vol. 67(2), pages 345-362, July.
  • Handle: RePEc:sej:ancoec:v:67:2:y:2000:p:345-362
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    Cited by:

    1. Emin M. Dinlersoz & Rubén Hernández-Murillo, 2002. "Did "right-to-work" work for Idaho?," Review, Federal Reserve Bank of St. Louis, issue May, pages 29-42.
    2. Bruce G. Carruthers & Naomi R. Lamoreaux, 2016. "Regulatory Races: The Effects of Jurisdictional Competition on Regulatory Standards," Journal of Economic Literature, American Economic Association, vol. 54(1), pages 52-97, March.
    3. Addison, John T., 2006. "Politico-Economic Causes of Labor Regulation in the United States: Rent Seeking, Alliances, Raising Rivals' Costs (Even Lowering One's Own?), and Interjurisdictional Competition," IZA Discussion Papers 2381, Institute for the Study of Labor (IZA).
    4. Stevans Lonnie K, 2009. "The Effect of Endogenous Right-to-Work Laws on Business and Economic Conditions in the United States: A Multivariate Approach," Review of Law & Economics, De Gruyter, vol. 5(1), pages 595-614, October.

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