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  1. Rival growth prospects and equity prices
    evidence from mass layoff announcements
    Autor*in: Bordeman, Adam; Kannan, Bharadwaj; Pinheiro, Roberto
    Erschienen: 2018
    Verlag:  Federal Reserve Bank of Cleveland, [Cleveland, OH]

    We investigate the impact of mass layoff announcements on the equity value of industry rivals. When a layoff announcement conveys good (bad) news for the announcer, rivals on average witness a 0.44 percent increase (0.60 percent decrease) in... mehr

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 36 (16,10R)
    Fernleihe:
    keine Fernleihe

     

    We investigate the impact of mass layoff announcements on the equity value of industry rivals. When a layoff announcement conveys good (bad) news for the announcer, rivals on average witness a 0.44 percent increase (0.60 percent decrease) in cumulative abnormal stock returns. This effect is concentrated on rivals with high growth opportunities. Consistent with this finding, we also show that our results are strongest in technology industries, where growth opportunities matter the most. Our results suggest that investors perceive layoff announcements as news about industry prospects rather than just the announcer.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    Schriftenreihe: Working paper / Federal Reserve Bank of Cleveland ; 16, 10R (September 2018)
    Schlagworte: Mass Layoffs; Rivals; Firm characteristics
    Umfang: 1 Online-Ressource (circa 66 Seiten), Illustrationen
    Bemerkung(en):

    First version April 2016 under the title "Competitors' Stock Price Reaction to Mass Layoff Announcements." Previous versions of the paper were also circulated under the title "Miners' Canary or Noah's Dove: The Industry Prospects of Layoff Announcements."
  2. Competitors' stock price reaction to mass layoff announcements
    Autor*in: Bordeman, Adam; Kannan, Bharadwaj; Pinheiro, Roberto
    Erschienen: April 2016
    Verlag:  Federal Reserve Bank of Cleveland, [Cleveland, OH]

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    Keine Speicherung
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working paper / Federal Reserve Bank of Cleveland ; 16, 10
    Schlagworte: Mass Layoffs; Competitors; Firm characteristics
    Umfang: 1 Online-Ressource (circa 69 Seiten), Illustrationen
    Bemerkung(en):

    Previous versions were circulated under the title "Miners' Canary or Noah's dove: the industry prospects of layoff announcements." A September 2018 version has the title "Rival growth prospects and equity prices: evidence from mass layoff announcements" doi.org/10.26509/frbc-wp-201610r