| Tekijä: | |
| Otsikko: | Market reactions, characteristics, and the effectiveness of corporate layoffs |
| Lehti: | Journal of Business Finance and Accounting
1998 : APR/MAY, VOL. 25:3-4, p. 329-351 |
| Asiasana: | EFFECTIVENESS SHARE PRICES MARKETS FINANCIAL PERFORMANCE COMPANIES LAY-OFFS |
| Kieli: | eng |
| Tiivistelmä: | There are two hypotheses considered in the paper to explain employee layoffs by corporations: the declining investment opportunities hypothesis, and the efficiency hypothesis. There are five main conclusions in the paper including e. g. that the stock market response to announcements of employee layoffs is estimated to be negative, large layoffs result in a stronger negative market reaction than small layoffs. In addition, there is a significant difference btw. industry type and for the stated reason of the layoff. Corporate layoffs increased the efficiency of the firm and its labour force. |
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