1.
| Received
04-Jun-2026 |
Accepted
- |
Published
04-Jun-2026 |
Abstract
Market power in the hands of a
supplier such as a labor union affects
an industry?s capital structure. Using
panel data techniques for 1992-2004,
this note shows that industries indeed
appear to employ financial leverage
strategically to influence collective
bargaining decisions. The estimates
imply that strategic incentives from
input markets have a substantial
impact on financing decisions.
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