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dc.contributor.advisorKlasa, Sandy
dc.contributor.authorLiu, Yanguang
dc.creatorLiu, Yanguang
dc.date.accessioned2021-05-18T21:46:51Z
dc.date.available2021-05-18T21:46:51Z
dc.date.issued2021
dc.identifier.citationLiu, Yanguang. (2021). Robots, Labor Market Frictions, and Corporate Financial Policies (Doctoral dissertation, University of Arizona, Tucson, USA).
dc.identifier.urihttp://hdl.handle.net/10150/658633
dc.description.abstractUsing a novel dataset from the International Federation of Robotics (IFR), I find that robots can transform the labor market landscape and mitigate the impact of labor market frictions on financial policy decisions. Firms with more robots, which reduce labor adjustment costs and operational risk, have higher financial leverage and hold less cash. Such firms rely less on employees and attach less importance to gaining bargaining advantages over unions. The effects of robots on corporate financial policies are stronger for firms with more blue-collar workers. When facing greater foreign competition, firms with more robots are able to adopt less conservative financial policies. The effects of minimum wage increases on corporate financial policies are weaker for firms with more robots.
dc.language.isoen
dc.publisherThe University of Arizona.
dc.rightsCopyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction, presentation (such as public display or performance) of protected items is prohibited except with permission of the author.
dc.subjectcapital structure
dc.subjectcash holdings
dc.subjectcompetitive threats
dc.subjectrobots
dc.titleRobots, Labor Market Frictions, and Corporate Financial Policies
dc.typetext
dc.typeElectronic Dissertation
thesis.degree.grantorUniversity of Arizona
thesis.degree.leveldoctoral
dc.contributor.committeememberWoutersen, Tiemen
dc.contributor.committeememberWilliams, Ryan
dc.contributor.committeememberIon, Mihai
thesis.degree.disciplineGraduate College
thesis.degree.disciplineManagement
thesis.degree.namePh.D.
refterms.dateFOA2021-05-18T21:46:51Z


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