公司策略對談判力及罷工後公司營運績效之影響

Corporate Strategies, Bargaining Power, and Post-Strike Operating Performance

陳彥行(Yan-Shing Chen)

指導教授 ： 陳聖賢

國立臺灣大學/管理學院/財務金融學研究所/博士(2009年)

https://doi.org/10.6342/NTU.2009.00888

摘要

本文利用美國1982至2006年間所發生的235個罷工事件探討公司策略對於罷工時勞資間的談判力及罷工後營運績效的影響。實證結果顯示平均而言樣本公司在罷工當季營運績效顯著下降，但是在罷工後第一季便回到正常水準。有趣的是，樣本公司在罷工後第二季開始直到第七季營運績效反而領先同業，這種現象在規模較大，時間較長的罷工樣本中更為明顯。進一步分析顯示罷工後營運績效的提升可能來自於罷工結束時資方取得勞動成本較低的新契約。此外，罷工前後營運績效的改變與公司的策略有關。在罷工前降低現金比率及負債比率或囤積存貨的公司及非相關多角化的公司相對於勞方擁有較強的談判力，因此較有可能得到工會在薪資及福利上的讓步，從而在罷工後有較佳的營運績效。

關鍵字

工會 ； 罷工 ； 談判力 ； 公司策略 ； 營運績效

並列摘要

I study how corporate policies will affect firm’s bargaining power against union during strike by examining the post-strike operating performance. The sample consists of 235 struck firms in the United State from 1982 to 2006. Notwithstanding a substantial drop in ROA is found in the strike quarter, struck firms on average exhibit superior performance starting from the second post strike quarter. As a result, there are no significant performance changes from pre-strike year to strike year, suggesting that in a substantial portion of struck firms, the strike cost is mostly offset or dominated by the gain form union wage concession at the settlement. This result holds for strikes coming in large scale and long durations. Regression analysis reveals that, firms decreasing their debt ratio and cash ratio or increasing their inventory in terms of finished goods prior to strike and firms engaging in unrelated diversifications tend to have better bargaining power during strike and therefore are more likely to perform better after settlement. I also show that some institutional and industrial factors related to the bargaining power between union and struck firms can also have impact on the post-strike operating performance. These impacts are economically significant as well.

並列關鍵字

Union ； Labor Strike ； Bargaining Power ； Corporate Strategy ； Operating Performance

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