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The Stock Market Reaction To Layoff Announcements
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Book Synopsis UK's Stock Market Reactions to Layoff Announcements by : Jonathan Vu
Download or read book UK's Stock Market Reactions to Layoff Announcements written by Jonathan Vu and published by eBookIt.com. This book was released on 2012-08 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research aims to examine the relationship between stock market reactions and layoff announcements. The scene is set under UK market in 2007 - 2009. The term layoff announcements, in this paper, refer to companies' announcements of reduction in the workforce both temporarily and permanently. The research is carried out by adopting deductive approach which leads to the formations of eight testable hypotheses about general market reactions to layoff announcements and different market reactions to layoff announcements with different characteristics. The research method used is event study for comparing the actual shareholder return to a firm given the event of layoff announcement to the share holder return that would have occurred with the assumption that the event did not happen. The hypotheses are tested using a sample of 79 layoff announcements by 51 UK listed companies during the period of January 2007-August 2009. Results from this research show sufficient evidence that: - Market reacts negatively to layoff announcements in general. - Medium layoffs (5-10%) receive the strongest market reactions - Market react negative and more strongly towards reactive layoffs compare with positive and weaker market reactions to proactive layoffs - Market reacts more favourably to layoff announcements from services to manufacturing, and from financial to non-financial sectors.
Book Synopsis Corporate Responsibility by : Ronny Manos
Download or read book Corporate Responsibility written by Ronny Manos and published by Springer. This book was released on 2016-02-02 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: The decision to engage in corporate social action (CSA), and the debates regarding its costs, benefits and implications to corporate performance represent a demanding issue for scholars and managers. Research is inconclusive regarding the causal relations between CSA, corporate social performance (CSP) and corporate financial performance (CFP), despite numerous empirical and theoretical studies devoted to the issue. This book presents an in-depth study of corporate social action and the factors influencing a decision to engage in it. Going beyond the causal relationship between CSA and firm performance, the book stresses the link between CSA and a firm's core managerial policies and practices, reflecting the complexity and varied facets of CSA and the numerous internal and external factors that influence its outcomes. The book draws on the experiences of various industrial sectors to reveal the importance of a range of issues such as top management pay dispersion and ownership structure, which may influence the firm's decision to engage in CSA. It also explores some of the external influences on firms, such as institutional norms, the geopolitical environment and the industrial sector. The first part of the book provides an overview of the thematic issues of CSA and performance. The second part presents a series of empirical studies that examine factors and determinants of CSA. The third part presents case studies to illustrate the processes and outcomes of CSA policy and strategy in environmentally hazardous industries.
Book Synopsis Social Fairness and Economics by : Lance Taylor
Download or read book Social Fairness and Economics written by Lance Taylor and published by Routledge. This book was released on 2013-02-11 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together papers inspired by the work of Duncan Foley, an extraordinarily productive economist who has made seminal contributions to a wide variety of areas. Foley’s work cannot be easily classified, but one thread that runs through it is a critical examination (along both ethical and analytical lines) of conventional neoclassical economic theory, particularly involving general equilibrium theories of value and money. Foley was a pioneer of complexity economics as well, which adopts approaches to these questions drawn from natural sciences, so the collection therefore has an interdisciplinary quality that will interest a wide variety of readers. Some of the chapters are intellectual biographies that contextualize and identify Foley’s contributions to Keynesian macroeconomics, Marxian value theory, and complexity theory in economics. The topics covered include the economics of complexity; the ethics of general equilibrium theory; the economics of climate change; applications of Keynesian, Marxian and Ricardian political economy; and money and financial crises. The collection should be useful to scholars who work in various economic traditions critical of the currently dominant free-market approach, but it also speaks to scholars of critical theory in various disciplines beyond economics such as the mathematicians, physicists, and other natural scientists who are interested in understanding the complexity of social processes using their analytical frameworks. This book should also appeal to graduate students in economics who are working in these traditions, as well as scholars (including current graduate students in orthodox programs) who are dissatisfied with the current state of economic theory and would like to satisfy their intellectual curiosity by sampling the contributions of critical theorists.
Book Synopsis Strategic Corporate Layoffs by : Ruchir Agarwal
Download or read book Strategic Corporate Layoffs written by Ruchir Agarwal and published by International Monetary Fund. This book was released on 2017-01-18 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: Firms in the S&P 500 often announce layoffs within days of one another, despite the fact that the average S&P 500 constituent announces layoffs once every 5 years. By contrast, similarsized privately-held firms do not behave in this way. This paper provides empirical evidence that such clustering behavior is largely due to CEOs managing their reputation in financial markets. To interpret these results we develop a theoretical framework in which managers delay layoffs during good economic states to avoid damaging the markets perception of their ability. The model predicts clustering in the timing of layoff announcements, and illustrates a mechanism through which the cyclicality of firms layoff policies is amplified. Our findings suggest that reputation management is an important driver of layoff policies both at daily frequencies and over the business cycle, and can have significant macroeconomic consequences.
Book Synopsis 6th International Finance Conference on Financial Crisis and Governance by : Mondher Bellalah
Download or read book 6th International Finance Conference on Financial Crisis and Governance written by Mondher Bellalah and published by Cambridge Scholars Publishing. This book was released on 2011-08-08 with total page 880 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial markets, the banking system, and the real estate, commodity and energy markets have, since 2007, been experiencing higher integration, more volatility and have undergone several shocks. More coordination is needed between G20 and market authorities. Regulators, banking supervision agencies and politicians are worried about economic growth and financial crisis. This book covers seven aspects related to financial economic issues, along with some connected topics. The first covers risk assessment, corporate governance and value creation through an appropriate risk management system. The second covers international investments, market correlation, institutional holdings and market reactions during crisis. The third part is devoted to empirical and quantitative analysis of the observed economics and finance issues. The fourth part is devoted to the role of debt in financial crisis and its impact on financial markets and the world economy. The fifth part is devoted to debt policy, free cash flows and the structure of governance. The sixth part deals with management control and the importance of communication. The last part covers Islamic finance as an alternative to conventional finance for the debt solution, the importance of the energy sector and the role of financial innovations.
Book Synopsis Industrial Inefficiency and Downsizing by : Matthew B. Krepps
Download or read book Industrial Inefficiency and Downsizing written by Matthew B. Krepps and published by Taylor & Francis. This book was released on 1997 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: First Published in 1997. Routledge is an imprint of Taylor & Francis, an informa company.
Book Synopsis Advances in Financial Planning and Forecasting (New Series) Vol．4 by : Cheng F. Lee
Download or read book Advances in Financial Planning and Forecasting (New Series) Vol．4 written by Cheng F. Lee and published by Center for PBBEFR & Airiti Press. This book was released on 2010-12-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Financial Planning and Froecasting (New Series) is an annual publication designed to disseminate developments in the area of financial analysis, planning, and forecasting. The publication is a froum for statistical, quantitative, and accounting analyses of issues in financial analysis and planning in terms of finance, accounting, and economic data.
Book Synopsis Human Resource Management Practices by : Maike Andresen
Download or read book Human Resource Management Practices written by Maike Andresen and published by Springer. This book was released on 2014-09-26 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is designed to help practitioners and academics to assess the added value of HR practices. It provides hands-on recommendations for choosing effective means to manage HR and specific suggestions aimed at facilitating the measurement of HR practices’ impact on value creation. Evidence-based recommendations are made by drawing on thorough empirical research from various research traditions and academic disciplines. It covers a wide variety of tasks faced by the HR function and specifically addresses new challenges such as assessing the added value of work-life balance practices.
Book Synopsis Corporate Social Responsibility, Corporate Restructuring and Firm's Performance by : Liangrong Zu
Download or read book Corporate Social Responsibility, Corporate Restructuring and Firm's Performance written by Liangrong Zu and published by Springer Science & Business Media. This book was released on 2008-10-01 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today’s globalized and competitive business environment, companies increasingly look to restructuring, mergers & acquisitions and downsizing to survive, grow and maximize profits. However, when they are not managed in a socially responsible manner, restructurings may exert the negative impact on employees, shareholders, communities, and society as a whole. The book empirically explores the phenomena of corporate social responsibility (CSR), restructuring, and relationships with firms’ performance in China. It gives an insight into how Chinese firms respond to expectations of stakeholders by making social goals a part of their overall business operations. It also gives a fresh view of the new concept of socially responsible restructuring. For those seeking to promote socially responsible practices in restructuring, the book provides a unique and stimulating analysis and touchstone.
Download or read book Downsizing written by Cary L. Cooper and published by Cambridge University Press. This book was released on 2012-04-19 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: Downsizing is one of the most frequently used business strategies for reducing costs, returning firms to profit or for restructuring businesses following takeovers, mergers and acquisitions. Downsizing measures are also set to become much more prevalent in the public sector as governments seek to restrict levels of public spending. This book is one of the first to provide a thorough study of downsizing from a global perspective. It examines the phenomenon in its entirety, exploring how it is initiated and what the process of downsizing looks like. It also looks at the effects of downsizing at a number of different levels, from the individual (e.g., motivational effects, effects on health and stress levels) to the organizational (e.g., financial outcomes, reputational and productivity outcomes). Written by an international team of experts, the book provides a comprehensive overview of downsizing that examines both the strategic and human implications of this process.
Book Synopsis Academy of Management Journal by : Academy of Management
Download or read book Academy of Management Journal written by Academy of Management and published by . This book was released on 1997 with total page 770 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focus on management theory and practice
Book Synopsis Capitalism on Trial by : Jeannette Wicks-Lim
Download or read book Capitalism on Trial written by Jeannette Wicks-Lim and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a collection of essays honoring Professor Thomas E. Weisskopf, one of the most prominent contributors to the field of radical economics. Beginning his academic career at Harvard before moving to the University of Michigan at Ann Arbor, Professor Weisskopf has spent the past forty years exploring through highly innovative and rigorous research the questions of economic equality, social justice and environmental responsibility. The chapters in this book reflect the main subjects of Professor WeisskopfÕs work and seek to foster continued innovation in these research areas. The diverse contributions to this volume explore the impressive range of Professor WeisskopfÕs research themes. These include the economics of developing countries, US imperialism, Marxian crisis theory, contemporary economic history and institutional development, affirmative action policies, and the potential of socialism as an alternative to capitalism for developing non-exploitative societies. In addition to 26 chapters by leading economists, this book also includes a chapter by Professor Weisskopf himself, in which he reflects on his own career in economics as well as the state of the U.S. and global economies. The volume also includes a full bibliography listing Professor WeisskopfÕs publications. Students, professors and researchers working in any branch of economics will find much of interest in this set of wide-ranging studies building from the themes advanced by Thomas Weisskopf.
Book Synopsis Encyclopedia of Sustainable Management by : Samuel Idowu
Download or read book Encyclopedia of Sustainable Management written by Samuel Idowu and published by Springer Nature. This book was released on 2023-11-21 with total page 4043 pages. Available in PDF, EPUB and Kindle. Book excerpt: This encyclopedia is the most comprehensive and up-to-date source of reference for sustainability in business and management. It covers both traditional and emerging concepts and terms and is fully international in its scope. More than 700 contributions of internationally renowned experts provide a definitive access to the knowledge in the area of sustainable and responsible management. All actors in the field will find reliable and up to date definitions and explanations of the key terms and concepts of management in this reference work. The Encyclopedia of Sustainable Management represents all aspects of management and business conduct. It takes sustainability as a management concept that gives due credit to the complexity and diverging constraints in which businesses and corporations act today, and it emphasizes and focuses approaches that help ensure that today's management decisions and actions will be the basis for tomorrow's prosperity.
Book Synopsis Downsizing in America by : William J. Baumol
Download or read book Downsizing in America written by William J. Baumol and published by Russell Sage Foundation. This book was released on 2003-06-26 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1980s and early 1990s, a substantial number of U.S. companies announced major restructuring and downsizing. But we don't know exactly what changes in the U.S. and global economy triggered this phenomenon. Little research has been done on the underlying causes of downsizing. Did companies actually reduce the size of their workforces, or did they simply change the composition of their workforces by firing some kinds of workers and hiring others? Downsizing in America, one of the most comprehensive analyses of the subject to date, confronts all these questions, exploring three main issues: the extent to which firms actually downsized, the factors that triggered changes in firm size, and the consequences of downsizing. The authors show that much of the conventional wisdom regarding the spate of downsizing in the 1980s and 1990s is inaccurate. Nearly half of the large firms that announced major layoffs subsequently increased their workforce by more than 10 percent within two or three years. The only arena in which downsizing predominated appears to be the manufacturing sector-less than 20 percent of the U.S. workforce. Downsizing in America offers a range of compelling hypotheses to account for adoption of downsizing as an accepted business practice. In the short run, many companies experiencing difficulties due to decreased sales, cash flow problems, or declining securities prices reduced their workforces temporarily, expanding them again when business conditions improved. The most significant trigger leading to long-term downsizing was the rapid change in technology. Companies rid themselves of their least skilled workers and subsequently hired employees who were better prepared to work with new technology, which in some sectors reduced the size of firm at which production is most efficient. Baumol, Blinder, and Wolff also reveal what they call the dirty little secret of downsizing: it is profitable in part because it holds down wages. Downsizing in America shows that reducing employee rolls increased profits, since downsizing firms spent less money on wages relative to output, but it did not increase productivity. Nor did unions impede downsizing. The authors show that unionized industries were actually more likely to downsize in order to eliminate expensive union labor. In sum, downsizing transferred income from labor to capital-from workers to owners
Book Synopsis Revitalizing Marxist Theory for Today's Capitalism by : Paul Zarembka
Download or read book Revitalizing Marxist Theory for Today's Capitalism written by Paul Zarembka and published by Emerald Group Publishing. This book was released on 2011-11-07 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amidst a capitalist crisis that has upturned mainstream orthodoxies, this title underscores the importance of historical and materialist understandings of capitalist economies. It exposes the limitations of neoclassical economics' endogenous growth theory and how it, in fact, gropes for understandings well established within Marxism.
Book Synopsis Utilizing Technology for Sustainable Resource Management Solutions by : Singh, Kuldeep
Download or read book Utilizing Technology for Sustainable Resource Management Solutions written by Singh, Kuldeep and published by IGI Global. This book was released on 2024-07-18 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: The intersection of technology and sustainability is with a particular focus on the concept of the circular economy. Efficient resource use and waste reduction are paramount concerns in today's world. Utilizing Technology for Sustainable Resource Management Solutions provides a comprehensive overview of how technology can be harnessed to achieve sustainable resource management within the framework of a circular economy. The book delves into various aspects of the circular economy. It explores the principles that underpin it, presents real-world case studies that exemplify its successful implementation, and discusses the role of cutting-edge technology, which is instrumental in driving transformative change. The book advances current research and examines the intricate link between technology and sustainability, centered around the circular economy. It propels readers into the heart of environmental sustainability, presenting a compelling argument for adopting circular economy principles to mitigate resource depletion and environmental degradation. Through insightful case studies and theoretical foundations, readers are empowered to drive environmentally responsible practices in their personal and professional spheres. This book helps business leaders to integrate circular economy principles, reduce waste, and drive innovation, fostering long-term viability and competitiveness. Policymakers find a valuable resource for evidence-based insights into technology's role in sustainable resource management, aiding in developing regulations that balance economic growth with environmental stewardship. In academic and educational circles, the book has become an essential tool.
Book Synopsis The Public Company Transformed by : Brian Cheffins
Download or read book The Public Company Transformed written by Brian Cheffins and published by Oxford University Press. This book was released on 2018-09-28 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: For decades, the public company has played a dominant role in the American economy. Since the middle of the 20th century, the nature of the public company has changed considerably. The transformation has been a fascinating one, marked by scandals, political controversy, wide swings in investor and public sentiment, mismanagement, entrepreneurial verve, noisy corporate "raiders" and various other larger-than-life personalities. Nevertheless, amidst a voluminous literature on corporations, a systematic historical analysis of the changes that have occurred is lacking. The Public Company Transformed correspondingly analyzes how the public company has been recast from the mid-20th century through to the present day, with particular emphasis on senior corporate executives and the constraints affecting the choices available to them. The chronological point of departure is the managerial capitalism era, which prevailed in large American corporations following World War II. The book explores managerial capitalism's rise, its 1950s and 1960s heyday, and its fall in the 1970s and 1980s. It describes the American public companies and executives that enjoyed prosperity during the 1990s, and the reversal of fortunes in the 2000s precipitated by corporate scandals and the financial crisis of 2008. The book also considers the regulation of public companies in detail, and discusses developments in shareholder activism, company boards, chief executives, and concerns about oligopoly. The volume concludes by offering conjectures on the future of the public corporation, and suggests that predictions of the demise of the public company have been exaggerated.
