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https://hdl.handle.net/2440/126576
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Type: | Journal article |
Title: | The impact of short-selling pressure on corporate employee relations |
Author: | Brockman, P. Luo, J. Xu, L. |
Citation: | Journal of Corporate Finance, 2020; 64:1-21 |
Publisher: | Elsevier |
Issue Date: | 2020 |
ISSN: | 0929-1199 1872-6313 |
Statement of Responsibility: | Paul Brockman, Juan Luo, Limin Xu |
Abstract: | We show that randomly-selected Regulation SHO pilot firms respond to an increased threat of short selling by significantly improving their employee relations. Pilot firms enhance employee security to reduce the likelihood of employee-related negative publicity. The reduction of workplace concerns is most evident among pilot firms with higher degree of earnings manipulation, short interest potential, likelihood of labor disputes and employee whistle-blowing. Pilot firms experience better stock performance during the post Reg-SHO period after easing workplace concerns. Overall, our study provides novel evidence that the removal of short-selling constraints has a real effect on labor relations. |
Keywords: | Employee relations; Labor disputes; Short-selling; Regulation SHO |
Description: | Available online 20 June 2020 |
Rights: | © 2020 Elsevier B.V. All rights reserved. |
DOI: | 10.1016/j.jcorpfin.2020.101677 |
Published version: | http://dx.doi.org/10.1016/j.jcorpfin.2020.101677 |
Appears in Collections: | Aurora harvest 4 Business School publications |
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