摘要
This article examines the relation between stock returns and a set of operating decisions: layoffs, operation closings, and pay cuts. We find evidence that cost-cutting measures occur after significant stock price declines. Announcements of layoffs and temporary operation closings are associated with negative returns, while permanent operation closings do not have significant announcement effects.
| 原文 | ???core.languages.en_GB??? |
|---|---|
| 頁（從 - 到） | 29-45 |
| 頁數 | 17 |
| 期刊 | Review of Quantitative Finance and Accounting |
| 卷 | 3 |
| 發行號 | 1 |
| DOIs | |
| 出版狀態 | 已出版 - 3月 1993 |