Event

過去のイベント

CARFセミナー:Organized Labor and Inventory holdings

開催日時

2019年614日(金) 16:00-17:30

会場

東京大学経済学研究科学術交流棟(小島ホール)
2階 コンファレンスルーム *1階セミナー室に変更となりました。

会場までのアクセス(下記マップの建物の『1階』です)
https://www.carf.e.u-tokyo.ac.jp/access/#campusmap

報告者

BOO CHUN JUNG, Ph.D.,
(Professor of Accounting, School of Accountancy, Shidler College of Business, University of Hawaii at Manoa)

要旨

The literature suggests that labor unions pose operational risk. In this paper, we find that managers stockpile buffer inventories in response to the operational risk associated with unions to maintain bargaining power in labor negotiations. This positive relation between union strength and inventory holdings is more salient when the relative costs of stock-out vs. excessive inventory holding is greater, when managers face more intense product market competition and thus a higher risk of sales loss, when it is more difficult to diversify labor disruption risks, when employees are not capable of delaying the effort, and when labor is more difficult to replace. Managers are shown to rely more on inventory stockpiling when they are restricted from using alternative disclosure strategies against unions. We further document that the potential benefit of excess inventory is in deterring strikes, while over-investment in inventory due to unions has on average undesirable effects on future financial performance both at the firm and the economy level.

講師プロフィール

Boo Chun Jung氏はハワイ大学マノア校(University of Hawaii at Manoa)のシドラー・ビジネスカレッジ(Shidler College of Business)の教授である。専門は財務会計であり,研究の関心はcash holdings, dividend policy, credit ratings, capital structure, stock analysts’ forecasts, international accountingと多岐にわたる。Boo Chun Jung氏の研究は, Journal of Accounting and Economics,Contemporary Accounting Research,Journal of Accounting, Auditing, and Finance,Journal of Business, Finance, and Accounting,またはAccounting and Business Researchといった会計学の主要ジャーナルに多数掲載されている。ソウル大学校(Seoul National University)でBusiness Administrationの学士号と修士号、コロラド大学ボルダー校(University of Colorado at Boulder)でAccountingの博士号を取得。

開催言語

英語