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Do Managers Withhold Good News from Labor Unions?
Richard Chung1; Bryan Byung-Hee Lee2; Woo-Jong Lee3; Byungcherl Charlie Sohn2
2016-01
Source PublicationManagement Science
ISSN0025-1909
Volume62Issue:1Pages:46-68
Other Abstract

With scarce empirical support, prior literature argues that managers tend to withhold good news and promote bad news to preserve their bargaining power against labor unions. This paper provides empirical evidence of this rarely supported argument. Using comprehensive firm-level data from South Korea, where labor unions have a long tradition of making credible threats, we find that overall disclosure frequency is negatively related to labor union strength, and that this relation is more pronounced in firms with good news. We also find that firms with strong labor unions withhold good news during the labor negotiation period and release it in a gradual fashion afterward and that this pattern is more prominent than that of firms with weak or no unions, implying that managers time news disclosures according to bargaining schedules to achieve better outcomes in labor negotiations. These results are robust to various sensitivity tests.

KeywordDisclosure Good News Versus Bad News Labor Union Timing Disclosure
DOIhttps://doi.org/10.1287/mnsc.2014.2075
URLView the original
Indexed BySCI ; SSCI
Language英语
WOS Research AreaBusiness & Economics ; Operations Research & Management Science
WOS SubjectManagement ; Operations Research & Management Science
WOS IDWOS:000372114300004
PublisherINFORMS, 5521 RESEARCH PARK DR, SUITE 200, CATONSVILLE, MD 21228 USA
Fulltext Access
Citation statistics
Cited Times [WOS]:25   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionDEPARTMENT OF ACCOUNTING AND INFORMATION MANAGEMENT
Corresponding AuthorRichard Chung; Bryan Byung-Hee Lee; Woo-Jong Lee; Byungcherl Charlie Sohn
Affiliation1.Griffith Business School, Griffith University, Nathan QLD 4111, Australia
2.Faculty of Business Administration, University of Macau, Taipa, Macau, China
3.College of Business Administration, Seoul National University, Seoul, Republic of Korea
Corresponding Author AffilicationFaculty of Business Administration
Recommended Citation
GB/T 7714
Richard Chung,Bryan Byung-Hee Lee,Woo-Jong Lee,et al. Do Managers Withhold Good News from Labor Unions?[J]. Management Science,2016,62(1):46-68.
APA Richard Chung,Bryan Byung-Hee Lee,Woo-Jong Lee,&Byungcherl Charlie Sohn.(2016).Do Managers Withhold Good News from Labor Unions?.Management Science,62(1),46-68.
MLA Richard Chung,et al."Do Managers Withhold Good News from Labor Unions?".Management Science 62.1(2016):46-68.
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