The literature suggests that the presence of a labor union poses operational risk for firms by reducing operating flexibility. We posit that managers stockpile inventory in response to their heightened operational risk, such as potential strikes, so that managers maintain bargaining power in...

The Government Shutdown of 2018-2019 ran for 35 days, from December 22, 2018 – January 25, 2019. It was the longest shutdown in the history of the United States. Most all Federal agencies were affected, and 800,000 federal workers were directly impacted by furloughs and delayed paychecks. The...