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dc.contributor.authorCardinale, Mirkoen_US
dc.contributor.authorOrszag, Mikeen_US
dc.date.accessioned2009-01-28T16:15:54Z-
dc.date.available2009-01-28T16:15:54Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/20679-
dc.description.abstractThis paper examines the empirical link between severance pay and corporate finance. Severance pay is an economic debt of the employer and hence should be taken into account by the market in its assessments of risk. Using a hand collected dataset of accounting data from Italy and Austria we find there is only a limited relationship between severance pay and market risk indicators. This suggests that arguments that severance pay systems destroy corporate value may need to be reassessed.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesIZA Discussion paper series 1383en_US
dc.subject.jelG39en_US
dc.subject.jelJ32en_US
dc.subject.jelJ65en_US
dc.subject.ddc330en_US
dc.subject.keywordseverance payen_US
dc.subject.keywordcorporate financeen_US
dc.subject.keywordAustrian employee benefitsen_US
dc.subject.keywordItalian employee benefitsen_US
dc.subject.stwAbfindungen_US
dc.subject.stwFinanzierungen_US
dc.subject.stwKreditrisikoen_US
dc.subject.stwSchätzungen_US
dc.subject.stwÖsterreichen_US
dc.subject.stwItalienen_US
dc.titleSeverance Pay and Corporate Finance : Empirical Evidence from a Panel of Austrian and Italian Firmsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn476103665en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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