Farber, Henry S.; Hallock, Kevin F. - National Bureau of Economic Research (NBER) - 1999
We study the reaction of stock prices to announcements of reductions in force (RIFs) using a sample of nearly 3878 such announcements in 1176 large firms during the 1970-97 period collected from the Wall Street Journal Index. We note that, although there has been a dramatic secular increase in...