Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/20679 
Erscheinungsjahr: 
2004
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 1383
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
This 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.
Schlagwörter: 
severance pay
corporate finance
Austrian employee benefits
Italian employee benefits
JEL: 
G39
J32
J65
Dokumentart: 
Working Paper

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