Effect of Business Uncertainty on Turnover
成果类型：
Article
署名作者：
Bamieh, Omar; Coviello, Decio; Ichino, Andrea; Persico, Nicola
署名单位：
Universidad Andres Bello; Universite de Montreal; HEC Montreal; European University Institute; Northwestern University; National Bureau of Economic Research
刊物名称：
JOURNAL OF LABOR ECONOMICS
ISSN/ISSBN：
0734-306X
DOI：
10.1086/727201
发表日期：
2025
页码：
319-348
关键词：
摘要：
We document a causal relationship between business uncertainty and workforce management at the firm level by leveraging litigation-generated quasi-experimental variation in business uncertainty. The causal effects of business uncertainty on turnover, hiring, and separations are of the expected negative direction and of sizable magnitude. These consequences are stronger among firms that operate in sectors in which business uncertainty is intrinsically higher and can be attributed to the effect of regulation-induced business risk on normal operations. In particular, employee turnover, hiring, and separations are ratcheted down to reduce the risk of additional wrongful termination lawsuits.
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