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| Tekijä: | Alexander, J. Spivey, M. |
| Otsikko: | The impact of the WARN act on firm value |
| Lehti: | Quarterly Review of Economics and Finance
1997 : VOL. 37:4, p. 905-924 |
| Asiasana: | ECONOMICS COMPANIES FINANCE |
| Kieli: | eng |
| Tiivistelmä: | The Worker Adjustment and Retraining Notification (WARN) Act of 1989 mandated that at least 60 days advance notice be given to employees. Critics argued that its passage would decrease managerial flexibility in closing plants, subsequently reducing firm values. This study addresses this issue by examining the stock market's reaction to announcements leading to the eventual enactment of the WARN legislation. The authors find evidence indicating negative effects of the legislation on stock returns of small firms. |
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