Effects of customer unionization on supplier relationships and supplier value

IF 2.1 2区 经济学 Q2 BUSINESS, FINANCE
Hyemin Kim
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引用次数: 0

Abstract

This study examines whether suppliers modify trading strategies upon their customers’ unionization. The study demonstrates that when customers unionize, suppliers experience negative stock returns and rely less on the unionized customers for sales. Results are robust for alternatively using a regression discontinuity design. Suppliers reduce their exposure to unionized customers due to the demand uncertainty arising from potential labor disruptions, the customers’ reduced competitiveness in the product market, and customers’ potential shifting of unionization costs to suppliers. Furthermore, suppliers with unionized customers mitigate risks by seeking new customers and diversifying their customer concentration.

客户联盟对供应商关系和供应商价值的影响
本研究探讨了供应商是否会在客户加入工会后改变贸易策略。研究表明,当客户加入工会时,供应商的股票收益会出现负值,并减少对加入工会的客户的销售依赖。如果采用回归不连续设计,结果也是稳健的。由于潜在的劳动力中断带来的需求不确定性、客户在产品市场中竞争力的下降以及客户可能将工会成本转移给供应商,供应商减少了对工会客户的依赖。此外,拥有工会客户的供应商会通过寻找新客户和分散客户集中度来降低风险。
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来源期刊
CiteScore
3.40
自引率
3.80%
发文量
59
期刊介绍: The Journal of Empirical Finance is a financial economics journal whose aim is to publish high quality articles in empirical finance. Empirical finance is interpreted broadly to include any type of empirical work in financial economics, financial econometrics, and also theoretical work with clear empirical implications, even when there is no empirical analysis. The Journal welcomes articles in all fields of finance, such as asset pricing, corporate finance, financial econometrics, banking, international finance, microstructure, behavioural finance, etc. The Editorial Team is willing to take risks on innovative research, controversial papers, and unusual approaches. We are also particularly interested in work produced by young scholars. The composition of the editorial board reflects such goals.
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