Unionized workers are entitled to special treatment in bankruptcy court. This can be detrimental to other corporate stakeholders in default states, with unsecured creditors standing to lose the most. Using data on union elections covering several decades, we employ a regression discontinuity...

Arguments that worker unionization leads to changes in productivity, employment, or business survival find little support in the literature. While unionization may have limited impact in good states, unionized workers are entitled to special treatment in bankruptcy court. This shift in...

Unionized workers are entitled to special treatment in bankruptcy court. This can be detrimental to other corporate stakeholders in default states, with unsecured creditors standing to lose the most. Using data on union elections covering several decades, we employ a regression discontinuity...