Stephen M. Nei

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We estimate the effect of new private-sector unionization on publicly-traded firms' equity value in the U.S. over the 1961-1999 period using a newly assembled sample of National Labor Relations Board (NLRB) representation elections matched to stock market data. Event-study estimates show an average union effect on the equity value of the firm equivalent to(More)
We investigate the role of networks of alliances in preventing (multilateral) interstate wars. We first show that, in the absence of international trade, no network of alliances is peaceful and stable. We then show that international trade induces peaceful and stable networks: Trade increases the density of alliances so that countries are less vulnerable to(More)
We estimate the effect of new private-sector unionization on publicly traded firms' equity value in the United States over the 1961–1999 period using a newly assembled sample of National Labor Relations Board (NLRB) representation elections matched tostock market data. Event-study estimates showan average union effect on the equity value of the firm(More)
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