Labor unions , bargaining power and corporate bond yield spreads : Structural credit model perspectives

@inproceedings{Chen2015LaborU,
  title={Labor unions , bargaining power and corporate bond yield spreads : Structural credit model perspectives},
  author={Tsung-kang Chen and Y. J. Chen and Hsien-hsing Liao},
  year={2015}
}
This study investigates labor union effects on bond yield spreads from perspectives of structural credit models by employing American bond observations from 2001 to 2007. This research finds that union strength significantly and positively relates to bond yield spreads (this effect is roughly equal to that of issuer rating for one standard deviation change when controlling for well-known variables). The empirical results also show that the positive effects become weaker when management has… CONTINUE READING

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