Even, William E.; Macpherson, David A. - Institute for the Study of Labor (IZA) - 2010
return performance. Moreover, the union's ability and incentive to use pension assets to promote union goals will vary with … the design of the pension. Using panel data on over 36,000 pension plans drawn from IRS Form 5500 filings, we empirically … estimate the effects of unions on risk adjusted returns and find that the union effect on performance varies in ways that are …