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Labor Laws And Corporate Investment

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  • Dalia Marciukaityte

Abstract

In the United States, the costs of unionized labor are higher in states without right‐to‐work (RTW) laws. I show that unionized firms located in these states invest less. These firms have about 4 percentage point lower capital expenditures (normalized by net property, plant, and equipment) than other firms. I confirm these findings by examining a natural experiment created by the adoption of RTW laws in Oklahoma and examining union certification elections using regression discontinuity design.

Suggested Citation

  • Dalia Marciukaityte, 2019. "Labor Laws And Corporate Investment," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 42(2), pages 413-444, July.
    • Handle: RePEc:bla:jfnres:v:42:y:2019:i:2:p:413-444
    DOI: 10.1111/jfir.12179
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    Cited by:

    1. Ertugrul, Mine & Marciukaityte, Dalia, 2021. "Labor unions and corporate social responsibility," Journal of Banking & Finance, Elsevier, vol. 125(C).

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