Concession Bargaining

The Impact on Shareholders' Equity

Datos Bibliográficos

ID3399233
AutoresBrian E Becker (0000-0001-5607-3418, autor de correspondencia)
Año1987
Volumen40
Número2
Páginas268
Fecha de publicación1987-01-01
Peer ReviewedSí
Open AccessNo
TipoARTICLE
RevistaIndustrial and Labor Relations Review (JOURNAL)
Identificadores de la revistaISSN: 0019-7939 • E-ISSN: 2162-271X
EditorialJSTOR (PUBLISHER)
DOI10.2307/2523291
OpenAlexW4234849833
IdiomaEN
Citas recibidas12
Referencias citadas18

This analysis of bargaining settlements in 1982-83 shows that, on average, shareholders in those firms that negotiated concessionary settlements enjoyed an 8 to 10 percent increase in the value of their holdings. The author interprets this result to mean not that the value of the firm increased, but rather that concessions enlarged the shareholders' portion of the firm's value at the expense of the workers' portion. On the other hand, concession bargaining does not seem to have reallocated business risk between shareholders and labor. Finally, the evidence suggests that firm-specific sources of risk can explain, in part, not only the magnitude of the concession effects but also the probability that concession bargaining will occur

Business · Collective bargaining · Corporate governance · Economics · Equity (law) · Human settlement · Labour economics · Monetary economics · Political science · Shareholder · Value (mathematics) · Banking stability, regulation, efficiency · Corporate Finance and Governance · Corporate Insolvency and Governance · Finance · Law · Law, Economics, and Judicial Systems