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Accession Number PB2013-110477
Title Do Local Managers Give Labor an Edge.
Publication Date Apr 2013
Media Count 45p
Personal Author S. E. Yonker
Abstract Based on the psychological theory of place attachments, native local managers should be more rooted in their communities than non-locals and should act accordingly. Consistent with this, local managers are 33% less likely to lay of employees than their non-local industry peers following industry distress. Additionally, when managers are forced to lay off employees, establishments near managers' homes are less likely to experience layoffs than those located elsewhere. Locals pay for these higher employment levels by spending cash, cutting investment, and selling assets. While there is no direct evidence that labor-friendly policies of locals have a differential impact on firm performance or value, only locals with weaker incentives implement these policies, suggesting that favoritism by locals may be suboptimal. Taken together these results suggest that managerial preferences impact corporate employment decisions.
Keywords Assets
Communities
Decision making
Employees
Industries
Investments
Labor force
Layoffs
Personnel management
Policies


 
Source Agency Department of Commerce, Bureau of Census
NTIS Subject Category 70D - Personnel Management, Labor Relations & Manpower Studies
96A - Domestic Commerce, Marketing, & Economics
Corporate Author Indiana Univ. at Bloomington. Kelley School of Business.
Document Type Technical report
Title Note N/A
NTIS Issue Number 1324
Contract Number N/A

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