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Labor strength and informational asy...

Hilary, Gilles.

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Labor strength and informational asymmetry in the stock market.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Labor strength and informational asymmetry in the stock market./
Author:	Hilary, Gilles.
Description:	111 p.
Notes:	Adviser: Raymond Ball.
Contained By:	Dissertation Abstracts International63-07A.
Subject:	Business Administration, Accounting. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3060221
ISBN:	0493758100

Labor strength and informational asymmetry in the stock market.
Hilary, Gilles.

Labor strength and informational asymmetry in the stock market. - 111 p.

Adviser: Raymond Ball.

Thesis (Ph.D.)--The University of Chicago, 2002.

The empirical literature in labor relations suggests that providing information to labor is costly to the firm. An explanation consistent with this result is that, when management is facing strong labor, the tension between financial markets and labor leads to more uncertainty about its reporting goals. Theory suggests that the option to bias reporting is more valuable when the recipient is unsure of the manager's goal. Therefore, management has a greater interest in this case in reducing disclosure to protect this option. In turn, a decrease in disclosure should increase the bid-ask spread. Consistent with this prediction, empirical results indicate a positive relation between labor strength and spreads.

ISBN: 0493758100Subjects--Topical Terms:

1020666
Business Administration, Accounting.

Labor strength and informational asymmetry in the stock market.
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005 20110510
008 110510s2002 eng d
020 $a 0493758100
035 $a (UnM)AAI3060221
035 $a AAI3060221
040 $a UnM $c UnM
100 1 $a Hilary, Gilles. $3 1259561
245 1 0 $a Labor strength and informational asymmetry in the stock market.
300 $a 111 p.
500 $a Adviser: Raymond Ball.
500 $a Source: Dissertation Abstracts International, Volume: 63-07, Section: A, page: 2608.
502 $a Thesis (Ph.D.)--The University of Chicago, 2002.
520 $a The empirical literature in labor relations suggests that providing information to labor is costly to the firm. An explanation consistent with this result is that, when management is facing strong labor, the tension between financial markets and labor leads to more uncertainty about its reporting goals. Theory suggests that the option to bias reporting is more valuable when the recipient is unsure of the manager's goal. Therefore, management has a greater interest in this case in reducing disclosure to protect this option. In turn, a decrease in disclosure should increase the bid-ask spread. Consistent with this prediction, empirical results indicate a positive relation between labor strength and spreads.
590 $a School code: 0330.
650 4 $a Business Administration, Accounting. $3 1020666
650 4 $a Economics, Finance. $3 626650
650 4 $a Economics, Labor. $3 1019135
690 $a 0272
690 $a 0508
690 $a 0510
710 2 0 $a The University of Chicago. $3 1017389
773 0 $t Dissertation Abstracts International $g 63-07A.
790 $a 0330
790 1 0 $a Ball, Raymond, $e advisor
791 $a Ph.D.
792 $a 2002
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3060221