Capital Market Behavior and Operational Announcements of Layoffs, Operation Closings, and Pay Cuts

This article examines the relation between stock returns and a set of operating decisions: layoffs, operation closings, and pay cuts. We find evidence that cost-cutting measures occur after significant stock price declines. Announcements of layoffs and temporary operation closings are associated with negative returns, while permanent operation closings do not have significant announcement effects

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Year of publication:	[2006]
Authors:	Lin, Ji-Chai
Other Persons:	Rozeff, Michael S. (contributor)
Publisher:	[2006]: [S.l.] : SSRN

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Extent:	1 Online-Ressource (17 p)
Type of publication:	Book / Working Paper
Notes:	In: Review of Quantitative Finance and Accounting, Vol. 3, 1993
Classification:	G10 - General Financial Markets. General ; G14 - Information and Market Efficiency; Event Studies ; G19 - General Financial Markets. Other ; G34 - Mergers; Acquisitions; Restructuring; Corporate Governance
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012780079