Union Rent Seeking, Intangible Capital, and Market Value of the Firm.
This study considers the effect of unions on intangible capital investment and profitability within t he context of market value rather than a more traditional accounting-based appro ach. Theory is provided suggesting unions are able to affect profitability by sh aring in the economic returns to firm-specific intangible capital. Insupport of this hypothesis, we find unionization reduces the returns to R&D and produces a corresponding limiting influence on R&D investment at the firm level. Copyright 1986 by MIT Press.
Year of publication: |
1986
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Authors: | Connolly, Robert A ; Hirsch, Barry T ; Hirschey, Mark |
Published in: |
The Review of Economics and Statistics. - MIT Press. - Vol. 68.1986, 4, p. 567-77
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Publisher: |
MIT Press |
Saved in:
Online Resource
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