作者：Shen, Mo
作者单位：Auburn University System; Auburn University
摘要：This paper studies how the labor market frictions of skilled workers affect corporate valuation. The analysis features immigrant workers' mobility constraints imposed by the U.S. green card application process and exploits exogenous variations caused by imperfections in the current immigration system. The study finds that relaxing mobility constraints negatively influences firm value. This effect is stronger for firms with higher labor adjustment costs. Reductions in investments and increases ...
作者：Cohn, Jonathan; Nestoriak, Nicole; Wardlaw, Malcolm
作者单位：University of Texas System; University of Texas Austin; University System of Georgia; University of Georgia
摘要：This paper presents evidence of a large, persistent decline in establishment-level workplace injury rates after private equity (PE) buyouts of publicly traded U.S. firms. We find that firms experience fewer OSHA safety violations after buyouts and that a larger decline in injury rates is associated with an increased probability of exit via IPO. Employment reductions after buyouts are concentrated in relatively low-injury-risk establishments. Overall, our results suggest that buyouts improve wo...
