{"id":"https://openalex.org/W2017781001","doi":"https://doi.org/10.1080/0963818031000087880","title":"Labour leverage, equity risk and corporate policy choice","display_name":"Labour leverage, equity risk and corporate policy choice","publication_year":2003,"publication_date":"2003-12-01","ids":{"openalex":"https://openalex.org/W2017781001","doi":"https://doi.org/10.1080/0963818031000087880","mag":"2017781001"},"language":"en","primary_location":{"id":"doi:10.1080/0963818031000087880","doi":"https://doi.org/10.1080/0963818031000087880","is_oa":false,"landing_page_url":"https://doi.org/10.1080/0963818031000087880","pdf_url":null,"source":{"id":"https://openalex.org/S171424506","display_name":"European Accounting Review","issn_l":"0963-8180","issn":["0963-8180","1468-4497"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-2","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319847","host_organization_name":"Routledge","host_organization_lineage":["https://openalex.org/P4310319847","https://openalex.org/P4310320547"],"host_organization_lineage_names":["Routledge","Taylor & Francis"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"European Accounting Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5041931497","display_name":"Joshua Rosett","orcid":"https://orcid.org/0000-0002-9245-9083","observed_orcids":["https://orcid.org/0000-0002-9245-9083"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Joshua G. Rosett","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5041931497"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":1.2319,"has_fulltext":false,"cited_by_count":24,"citation_normalized_percentile":{"value":0.9157902,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":97},"biblio":{"volume":"12","issue":"4","first_page":"699","last_page":"732"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9394999742507935,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9394999742507935,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.025200000032782555,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.011699999682605267,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/labor-use","display_name":"labor utilization","score":0.8539999723434448},{"id":"https://openalex.org/keywords/off-balance-sheet-liabilities","display_name":"off-balance-sheet liabilities","score":0.8090000152587891},{"id":"https://openalex.org/keywords/financial-leverage","display_name":"leverage","score":0.5759999752044678},{"id":"https://openalex.org/keywords/corporate-financial-policy","display_name":"corporate financial policy","score":0.6949999928474426},{"id":"https://openalex.org/keywords/debt-financing","display_name":"debt financing","score":0.7879999876022339},{"id":"https://openalex.org/keywords/dividend-policy","display_name":"dividend policy","score":1.0},{"id":"https://openalex.org/keywords/financial-structure","display_name":"financial structure","score":0.75},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.5049999952316284}],"concepts":[{"id":"https://openalex.org/C116168712","wikidata":"https://www.wikidata.org/wiki/Q181201","display_name":"Dividend","level":2,"score":0.6738187074661255},{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.6484407186508179},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.5947719216346741},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.532941460609436},{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.5032646059989929},{"id":"https://openalex.org/C149866677","wikidata":"https://www.wikidata.org/wiki/Q5384698","display_name":"Equity risk","level":3,"score":0.4916446805000305},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4598027765750885},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4553362727165222},{"id":"https://openalex.org/C59399099","wikidata":"https://www.wikidata.org/wiki/Q5284040","display_name":"Dividend policy","level":3,"score":0.44697487354278564},{"id":"https://openalex.org/C163428354","wikidata":"https://www.wikidata.org/wiki/Q1047513","display_name":"Cash flow","level":2,"score":0.42019131779670715},{"id":"https://openalex.org/C84566663","wikidata":"https://www.wikidata.org/wiki/Q2738224","display_name":"Operating leverage","level":3,"score":0.419467955827713},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3842185437679291},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3303070664405823},{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.08190733194351196},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1080/0963818031000087880","doi":"https://doi.org/10.1080/0963818031000087880","is_oa":false,"landing_page_url":"https://doi.org/10.1080/0963818031000087880","pdf_url":null,"source":{"id":"https://openalex.org/S171424506","display_name":"European Accounting Review","issn_l":"0963-8180","issn":["0963-8180","1468-4497"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-2","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319847","host_organization_name":"Routledge","host_organization_lineage":["https://openalex.org/P4310319847","https://openalex.org/P4310320547"],"host_organization_lineage_names":["Routledge","Taylor & Francis"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"European Accounting Review","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:taf:euract:v:12:y:2003:i:4:p:699-732","doi":null,"is_oa":false,"landing_page_url":"http://www.tandfonline.com/doi/abs/10.1080/0963818031000087880","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8","score":1.0}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":44,"referenced_works":["https://openalex.org/W127539199","https://openalex.org/W279435525","https://openalex.org/W566586761","https://openalex.org/W1488766129","https://openalex.org/W1523403301","https://openalex.org/W1595358212","https://openalex.org/W1786711956","https://openalex.org/W1868853142","https://openalex.org/W1977704037","https://openalex.org/W2008772969","https://openalex.org/W2020970716","https://openalex.org/W2023050239","https://openalex.org/W2029056003","https://openalex.org/W2037728219","https://openalex.org/W2045403630","https://openalex.org/W2046793910","https://openalex.org/W2053461018","https://openalex.org/W2058952667","https://openalex.org/W2074275156","https://openalex.org/W2083148578","https://openalex.org/W2084310832","https://openalex.org/W2085221628","https://openalex.org/W2104795328","https://openalex.org/W2108818539","https://openalex.org/W2114600177","https://openalex.org/W2115846503","https://openalex.org/W2124224757","https://openalex.org/W2128185359","https://openalex.org/W2152089437","https://openalex.org/W2166215547","https://openalex.org/W2167953453","https://openalex.org/W2170415678","https://openalex.org/W2316532094","https://openalex.org/W2317446573","https://openalex.org/W2464678158","https://openalex.org/W2726429196","https://openalex.org/W3021365493","https://openalex.org/W3121435459","https://openalex.org/W3125156360","https://openalex.org/W3125649736","https://openalex.org/W4231859712","https://openalex.org/W4236670843","https://openalex.org/W4239488419","https://openalex.org/W4254313700"],"related_works":["https://openalex.org/W3126085193","https://openalex.org/W2058952667","https://openalex.org/W2002743598","https://openalex.org/W2769496736","https://openalex.org/W4411938827","https://openalex.org/W4406778192","https://openalex.org/W4389071041","https://openalex.org/W1506602066","https://openalex.org/W639934492","https://openalex.org/W1904839883"],"abstract_inverted_index":{"This":[0],"paper":[1],"investigates":[2],"the":[3,22,33,125,152,180],"role":[4,127],"of":[5,21,89,179],"labour":[6,26,113,138,158],"utilization":[7,27],"in":[8,32,51,128],"assessing":[9],"equity":[10,82,119],"investment":[11,83,120],"risk":[12,84,95],"and":[13,96,103,122,133,163,182],"corporate":[14],"financial":[15,70,98,131],"policy":[16,105],"choices.":[17],"Several":[18],"existing":[19,145],"models":[20],"firm":[23],"predict":[24],"that":[25,38,112,154,164],"is":[28,75,115],"costly":[29],"to":[30,41,46,49,59,69,77,160,168],"adjust":[31,97],"short":[34],"run.":[35],"I":[36],"argue":[37],"this":[39,94,170],"leads":[40],"a":[42,60],"relatively":[43],"fixed":[44],"obligation":[45],"pay":[47],"cash":[48],"labour,":[50],"effect":[52],"creating":[53],"an":[54],"off-balance-sheet":[55],"intangible":[56],"liability":[57,63],"similar":[58],"lease.":[61],"The":[62,107,147,172],"creates":[64],"\u2018labour":[65],"leverage\u2019":[66],"risk,":[67,121,162],"analogous":[68],"leverage":[71,74,114,139],"risk.":[72,171],"Labour":[73],"hypothesized":[76],"be":[78],"positively":[79,116],"correlated":[80,117],"with":[81,118,151],"as":[85],"measured":[86],"by":[87],"characteristics":[88],"stock":[90],"returns.":[91],"Managers":[92],"recognize":[93],"policies":[99],"including":[100],"debt":[101],"financing":[102],"dividend":[104,134],"accordingly.":[106],"main":[108],"empirical":[109],"results":[110,148,173],"are":[111,140,149,174],"it":[123],"plays":[124],"predicted":[126],"regressions":[129],"explaining":[130],"structure":[132],"policy.":[135],"Proxies":[136],"for":[137],"simple":[141],"measures":[142],"based":[143],"on":[144],"disclosure.":[146],"consistent":[150,175,183],"conjectures":[153],"market":[155],"participants":[156],"use":[157],"disclosures":[159],"assess":[161],"managers":[165],"take":[166],"actions":[167],"mitigate":[169],"across":[176],"most":[177],"sectors":[178],"economy,":[181],"over":[184],"time.":[185]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2024,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":3},{"year":2017,"cited_by_count":1},{"year":2013,"cited_by_count":3},{"year":2012,"cited_by_count":2}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}