The Experts below are selected from a list of 44226 Experts worldwide ranked by ideXlab platform
Oskar Kowalewski - One of the best experts on this subject based on the ideXlab platform.
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collective Bargaining Power and corporate cash policy
International Review of Law and Economics, 2021Co-Authors: Muhammad Farooq Ahmad, Oskar KowalewskiAbstract:Abstract This paper provides novel evidence on the role of labor unions in firms’ corporate cash policy. Examining the unionization rates of firms across 29 countries for the period 2004–2015, we show that firms respond to an increase in unionization rate by decreasing their corporate cash holdings. The reported effect is symmetric, in that firms respond to increases (decreases) in unionization rate by decreasing (increasing) their cash buffers. These results are consistent with the Bargaining hypothesis, namely, that firms strategically decrease their cash level to counter the rise in employees’ Bargaining Power due to increased unionization. Additionally, we find that the negative effect of unionization on cash holdings is more pronounced in labor-intensive, large, high-growth, high profitability, and low labor productive firms. The countries’ quality of institutions intensifies the documented relationship, what is in line with the cost economies theory. Moreover, we exploit shocks to the economies and show that increase in the unionization following a banking crisis influence negatively firm's cash levels. These findings are robust to different unionization variable constructions, alternative dependent variable definitions, controlling for potentially correlated time-variant firm characteristics, saturation of a dense set of fixed effects, and endogeneity concerns.
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collective Bargaining Power and corporate cash policy
Social Science Research Network, 2020Co-Authors: Muhammad Farooq Ahmad, Oskar KowalewskiAbstract:This paper provides novel evidence on the role of labor unions in firms’ corporate cash policy. Examining the unionization rates of firms across 29 countries for the period 2004–2015, we show that firms respond to an increase in unionization rate by decreasing their corporate cash holdings. The reported effect is symmetric, in that firms respond to increases (decreases) in unionization rate by decreasing (increasing) their cash buffers. These results are consistent with the Bargaining hypothesis, namely, that firms strategically decrease their cash level to counter the rise in employees’ Bargaining Power due to increased unionization. These findings are robust to different unionization variable constructions, alternative dependent variable definitions, controlling for potentially correlated time-variant firm characteristics, saturation of a dense set of fixed effects, and endogeneity concerns. Additionally, the negative effect of unionization on cash holdings is more pronounced in labor-intensive, large, high-growth, high-profitability, and low labor productive firms. The countries’ quality of institutions intensifies the documented relationship.
Liyan Yang - One of the best experts on this subject based on the ideXlab platform.
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employee Bargaining Power inter firm competition and equity based compensation
Journal of Financial Economics, 2017Co-Authors: Francesco Bova, Liyan YangAbstract:Abstract We develop a model to illustrate that equity-based compensation for non-executive employees and product market decisions are related. When the product market is competitive and employees have low Bargaining Power, the unique equilibrium is for each firm’s owners to offer equity-based compensation to their employees. In this setting, equity-based compensation leads to a lower wage rate, which makes each firm more competitive with its rival. However, this unique equilibrium is a Prisoner’s Dilemma for the firms’ original owners. Our results are consistent with several empirical regularities and provide predictions on when firms will offer equity-based compensation to their employees.
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employee Bargaining Power inter firm competition and equity based compensation
Social Science Research Network, 2016Co-Authors: Francesco Bova, Liyan YangAbstract:We develop a model to illustrate that employee compensation and product market decisions are related. When the product market is competitive and employees have low Bargaining Power, the unique equilibrium in our setting is for each firm's owners to offer equity-based compensation to their employees. In this setting, equity-based compensation leads to a lower wage rate, which makes each firm more competitive with its rival. However, this unique equilibrium is a Prisoner’s Dilemma for each firms’ original owners. Our results are consistent with several empirical regularities and provide predictions on when firms will offer equity-based compensation to their employees.
Derek Mikola - One of the best experts on this subject based on the ideXlab platform.
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covid 19 family stress and domestic violence remote work isolation and Bargaining Power
Social Science Research Network, 2020Co-Authors: Louisphilippe Beland, Abel Brodeur, Joanne Haddad, Derek MikolaAbstract:We investigate the impacts of COVID-19 on domestic violence and family stress. Our empirical analysis relies on a unique online survey, Canadian Perspective Survey Series, that allow us to disentangle the mechanisms through which COVID-19 may affect family stress and domestic violence. We find no evidence that employment status and work arrangements are related to higher self-reported levels of family stress and violence in the home due to confinement, suggesting that remote working on a large scale does not lead to family violence.In contrast, we find that the inability to meet financial obligations and maintaining social ties significantly increase reported family stress and domestic violence. These findings are consistent with two alternative mechanisms: social isolation and decreased Bargaining Power for women. Last, we provide suggestive evidence that receiving financial relief does not mitigate the effect of financial worries on domestic violence and family stress. We conclude that targeted programs supporting victims of domestic violence may be more effective.
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covid 19 family stress and domestic violence remote work isolation and Bargaining Power
Research Papers in Economics, 2020Co-Authors: Louisphilippe Beland, Abel Brodeur, Joanne Haddad, Derek MikolaAbstract:We study the impacts of COVID-19 on domestic violence and family stress. Our empirical analysis relies on a unique online survey, the Canadian Perspective Survey Series, which allows us to investigate the mechanisms through which COVID-19 may affect family stress and domestic violence. We find no evidence that changes in work arrangements are related to self-reported levels of family stress and violence in the home due to confinement, suggesting that remote work on a large scale does not lead to family violence. In contrast, we find that the inability to meet financial obligations and maintaining social ties significantly increase reported family stress and domestic violence. These findings are consistent with two alternative mechanisms: social isolation and decreased Bargaining Power for women. Last, we provide suggestive evidence that receiving financial relief does not mitigate the effect of financial worries on domestic violence and family stress. We conclude that targeted programs supporting victims of domestic violence may be more effective.
Abel Brodeur - One of the best experts on this subject based on the ideXlab platform.
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covid 19 family stress and domestic violence remote work isolation and Bargaining Power
Social Science Research Network, 2020Co-Authors: Louisphilippe Beland, Abel Brodeur, Joanne Haddad, Derek MikolaAbstract:We investigate the impacts of COVID-19 on domestic violence and family stress. Our empirical analysis relies on a unique online survey, Canadian Perspective Survey Series, that allow us to disentangle the mechanisms through which COVID-19 may affect family stress and domestic violence. We find no evidence that employment status and work arrangements are related to higher self-reported levels of family stress and violence in the home due to confinement, suggesting that remote working on a large scale does not lead to family violence.In contrast, we find that the inability to meet financial obligations and maintaining social ties significantly increase reported family stress and domestic violence. These findings are consistent with two alternative mechanisms: social isolation and decreased Bargaining Power for women. Last, we provide suggestive evidence that receiving financial relief does not mitigate the effect of financial worries on domestic violence and family stress. We conclude that targeted programs supporting victims of domestic violence may be more effective.
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covid 19 family stress and domestic violence remote work isolation and Bargaining Power
Research Papers in Economics, 2020Co-Authors: Louisphilippe Beland, Abel Brodeur, Joanne Haddad, Derek MikolaAbstract:We study the impacts of COVID-19 on domestic violence and family stress. Our empirical analysis relies on a unique online survey, the Canadian Perspective Survey Series, which allows us to investigate the mechanisms through which COVID-19 may affect family stress and domestic violence. We find no evidence that changes in work arrangements are related to self-reported levels of family stress and violence in the home due to confinement, suggesting that remote work on a large scale does not lead to family violence. In contrast, we find that the inability to meet financial obligations and maintaining social ties significantly increase reported family stress and domestic violence. These findings are consistent with two alternative mechanisms: social isolation and decreased Bargaining Power for women. Last, we provide suggestive evidence that receiving financial relief does not mitigate the effect of financial worries on domestic violence and family stress. We conclude that targeted programs supporting victims of domestic violence may be more effective.
Dominique Demougin - One of the best experts on this subject based on the ideXlab platform.
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declining labor shares and Bargaining Power an institutional explanation
Journal of Macroeconomics, 2010Co-Authors: Benjamin Bental, Dominique DemouginAbstract:Abstract We model the design of labor market institutions in an economy characterized by moral hazard and irreversible investment. In this setting, the environment setting affects the Bargaining Power of labor. At the optimum the allocation of Bargaining Power balances the aforementioned frictions. We examine the impact of improved monitoring and investigate the implication upon labor share, effort and investment. The model’s predictions are consistent with recent decreasing labor shares and wages per effective labor units observed in most OECD countries. It is also consistent with rising labor productivity and declining ratio between effective labor and capital found in many of these countries.
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declining labor shares and Bargaining Power an institutional explanation
Social Science Research Network, 2009Co-Authors: Benjamin Bental, Dominique DemouginAbstract:We model the design of labor market institutions in an economy characterized by moral hazard and irreversible investment. In this setting the institutional design affects the Bargaining Power of labor. At the optimum, the allocation of Bargaining Power balances the aforementioned frictions. We examine the impact of improved monitoring and investigate the implication upon labor share, effort and investment. The model's predictions are consistent with recent decreasing labor shares and wages per effective labor units observed in most OECD countries. It is also consistent with rising labor productivity and declining ratio between effective labor and capital found in many of these countries.
