Chalos, Peter; Chen, Charles J. P. - In: Journal of Business Finance & Accounting 29 (2002) 5&6, pp. 847-870
Empirical studies have generally reported insignificant market reactions to employee downsizing. In an effort to reconcile ongoing layoffs with inconclusive empirical results, we segregated our sample by downsizing strategy and examined employee layoff announcements made by "Fortune 500" firms...