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The Predicability of Strikes: Evidence from the Stock Market

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  • George R. Neumann

Abstract

Discussions of strike activity, and in particular of the costs of strike activity, generally ignore the existence of capital markets. If strikes are costly and if they are predictable, the presence of capital markets limits the losses that can be imposed on firms. This paper examines the effect of strikes on the value of the firm as measured by the stock market. The results indicate that strikes do have a negative effect on the value of the firm, although not a very large one, and that the stock market predicts the occurrence of strikes efficiently.

Suggested Citation

  • George R. Neumann, 1980. "The Predicability of Strikes: Evidence from the Stock Market," ILR Review, Cornell University, ILR School, vol. 33(4), pages 525-535, July.
    • Handle: RePEc:sae:ilrrev:v:33:y:1980:i:4:p:525-535
    DOI: 10.1177/001979398003300407
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    Cited by:

    1. Jonathan Gruber & Samuel A. Kleiner, 2012. "Do Strikes Kill? Evidence from New York State," American Economic Journal: Economic Policy, American Economic Association, vol. 4(1), pages 127-157, February.
    2. repec:eee:labchp:v:2:y:1986:i:c:p:1091-1137 is not listed on IDEAS
    3. Dmitri G. Markovitch & Peter N. Golder, 2008. "—Using Stock Prices to Predict Market Events: Evidence on Sales Takeoff and Long-Term Firm Survival," Marketing Science, INFORMS, vol. 27(4), pages 717-729, 07-08.
    4. Afik, Zvika & Haim, Roi & Lahav, Yaron, 2019. "Advance notice labor conflicts and firm value—An event study analysis on Israeli companies," Finance Research Letters, Elsevier, vol. 31(C).

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