Early retirement programs and firm performance

• 成果类型: Article
• 署名作者: Davidson, WN; Worrell, DL; Fox, JB
• 署名单位: University of Texas System; University of Texas Arlington; University of North Carolina; Appalachian State University
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/256719
• 发表日期: 1996
• 页码: 970-984
• 关键词: human-resource management; ORGANIZATIONS; strategies; reorientation; PRODUCTIVITY; CONVERGENCE; WEALTH; IMPACT

摘要

Early retirement programs are increasingly used as a human resources strategic response to changes in the business environment. For the period 1982-92, we found that investors tended to view early retirement programs favorably. These positive market responses further appeared to be influenced by the institutional rationale for a workforce reduction, the timing of a reduction's announcement, firm size, the restriction of an early retirement program to white-collar employees, and the physical size of the public announcements of a program.