This study examines how firm-level political risk relates to labor performance, measured as the ratio of the total of net income and labor cost to the number of employees. Using a sample of 9508 firm-year observations consisting of U.S. firms during the years 2002–2021, we find a significant and negative relation between political risk and labor performance. Our empirical tests show that after controlling for other factors, firms facing a higher level of political risk demonstrate lower labor performance, highlighting the negative impact of political risk on firm behavior and outcomes.

中文翻译：

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企业层面的政治风险和劳动绩效


本研究考察了公司层面的政治风险与劳动绩效的关系，以净收入和劳动力成本之和与员工人数的比率来衡量。使用 2002 年至 2021 年期间由美国公司组成的 9508 个公司年度观察样本，我们发现政治风险与劳动绩效之间存在显著的负相关关系。我们的实证检验表明，在控制了其他因素后，面临较高政治风险的公司表现出较低的劳动绩效，突出了政治风险对公司行为和结果的负面影响。