{"title":"不当排放法与不对称成本行为","authors":"Yongtae Kim, Siqi Li, Hyungshin Park","doi":"10.2139/ssrn.3813326","DOIUrl":null,"url":null,"abstract":"Exploiting the natural experiment created by the adoption of wrongful discharge laws (WDLs)<br>across U.S. states, we examine the effect of legal protection against unjust employment<br>termination on firm-level cost behavior. We find that the adoption of WDLs increases the<br>asymmetric sensitivity of costs to activity (i.e., cost stickiness). The effect of WDLs on cost<br>stickiness varies across firms and industries, as well as by adoption timing and multiplicity. Our<br>evidence suggests that changes in the state-level legal environment have a significant effect on<br>firm-level resource adjustment decisions and asymmetric cost behavior.","PeriodicalId":177971,"journal":{"name":"Economic Perspectives on Employment & Labor Law eJournal","volume":"25 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Wrongful Discharge Laws and Asymmetric Cost Behavior\",\"authors\":\"Yongtae Kim, Siqi Li, Hyungshin Park\",\"doi\":\"10.2139/ssrn.3813326\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Exploiting the natural experiment created by the adoption of wrongful discharge laws (WDLs)<br>across U.S. states, we examine the effect of legal protection against unjust employment<br>termination on firm-level cost behavior. We find that the adoption of WDLs increases the<br>asymmetric sensitivity of costs to activity (i.e., cost stickiness). The effect of WDLs on cost<br>stickiness varies across firms and industries, as well as by adoption timing and multiplicity. Our<br>evidence suggests that changes in the state-level legal environment have a significant effect on<br>firm-level resource adjustment decisions and asymmetric cost behavior.\",\"PeriodicalId\":177971,\"journal\":{\"name\":\"Economic Perspectives on Employment & Labor Law eJournal\",\"volume\":\"25 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2020-01-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Economic Perspectives on Employment & Labor Law eJournal\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2139/ssrn.3813326\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Perspectives on Employment & Labor Law eJournal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3813326","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Wrongful Discharge Laws and Asymmetric Cost Behavior
Exploiting the natural experiment created by the adoption of wrongful discharge laws (WDLs) across U.S. states, we examine the effect of legal protection against unjust employment termination on firm-level cost behavior. We find that the adoption of WDLs increases the asymmetric sensitivity of costs to activity (i.e., cost stickiness). The effect of WDLs on cost stickiness varies across firms and industries, as well as by adoption timing and multiplicity. Our evidence suggests that changes in the state-level legal environment have a significant effect on firm-level resource adjustment decisions and asymmetric cost behavior.