This study empirically investigates the value employees place on stock options using information from the option exercise behavior of individuals. Employees hold options for another period if the value from holding them and reserving the right to exercise them later is higher than the value of...

We study strike durations and outcomes for some 2000 disputes that occurred between 1881 and 1886. Most post-strike bargaining settlements in the 1880s fell into one of two categories: either a union "victory", characterized by a significant wage gain or hours cut, or a union "defeat",...

We study the reaction of stock prices to announcements of reductions in force (RIFs) using a sample of nearly 3878 such announcements in 1176 large firms during the 1970-97 period collected from the Wall Street Journal Index. We note that, although there has been a dramatic secular increase in...

This paper studies the gender compensation gap among high-level executives in US corporations. We use the ExecuComp data set that contains information on total compensation for the top five highest paid executives of a large group of US firms over the period 1992-1997. About 2.5% of the...

We evaluate potential determinants of enrollment in an early retirement incentive program for non-tenure-track employees of a large university. Using administrative record on the eligible population of employees not covered by collective bargaining agreements, historical employee count and...

This paper examines how the managerial labor market in nonprofit hospitals has adjusted to the negative income pressures created by HMO penetration. Using a panel of about 1500 nonprofit hospitals over the period 1992 to 1996, we find that top executive turnover increases following an increase...

Unions compress the wage distribution among workers covered by union contracts. We" ask whether unions also have an effect on the managers of unionized firms. To this end we" collected and assembled data on unionization and managerial pay within firms and industries in" the U.S. and across...

Combining information from labor historians and using techniques from finance we analyze the strikes that labor historians have agreed are pivotal in American history' during the period 1925-1937. Using information we collected on strike dates and historical financial market stock price data we...

Using data spanning a half century for adjacent jurisdictions in the U.S. and Canada, we study the long-term effects of a very generous unemployment insurance (UI)program on weeks worked. We find large effects. For example, in 1990, about 6 percent of employed men in Maine's northernmost...