Minimum Wage and Shareholder Wealth: Evidence from Hong Kong
Year: 2013
Author: Wong, Kin-Ming, Chong, Terence Tai-Leung
Applied Economics Quarterly, Vol. 59 (2013), Iss. 1 : pp. 85–97
Abstract
Evidence from existing studies on the impact of minimum wage on firm profitability and shareholder wealth are inconsistent. One of the explanations is the different natures of event studied. This paper is motivated to offer evidence for the relationship of minimum wage and shareholder wealth that is more comparable to the study on firm profitability. We examine the response in equity returns of the most affected industries to several events throughout the introduction of minimum wage in Hong Kong. Our results are mixed with a negative effect on shareholder wealth found in one out of five events.
JEL Classification: J31, J38
You do not have full access to this article.
Already a Subscriber? Sign in as an individual or via your institution
Journal Article Details
Publisher Name: Global Science Press
Language: English
DOI: https://doi.org/10.3790/aeq.59.1.85
Applied Economics Quarterly, Vol. 59 (2013), Iss. 1 : pp. 85–97
Published online: 2013-03
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 13
Author Details
Wong, Kin-Ming Email
Chong, Terence Tai-Leung Email