Do Union Wealth Concessions Explain Takeover Premiums? The Evidence on Contract Wages / Joshua Rosett.

Format:

Book

Author/Creator:

Rosett, Joshua.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w3187.

NBER working paper series no. w3187

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1989.

Summary:

I estimate changes in levels of union real wage growth associated with corporate takeovers and accompanying chief executive officer changes. The effects are statistically insignificant. The results are used to construct union wealth changes associated with corporate control events. Target fire shareholder wealth premiums are estimated using a simple market model. The union and shareholder wealth changes are compared, and I conclude that transfers of wealth from unions to shareholders ate not an economically significant explanation of shareholder wealth premiums.

Notes:

Print version record

November 1989.