TY - JOUR
T1 - Patterns of restructuring
T2 - The US class 1 railroads from 1984 to 2004
AU - Friebel, Guido
AU - McCullough, Gerard
AU - Angulo, Laura Padilla
PY - 2014/1
Y1 - 2014/1
N2 - We investigate the restructuring of the US freight railroad industry after its deregulation. An econometric analysis of the joint effects of 'defensive' and 'strategic restructuring' reveals that, unsurprisingly, downsizing of the physical network has affected financial performance positively. Contrary to widely held beliefs, employment reductions by themselves do not explain improved performance, but controlling for interactions of network reductions and labour downsizing with strategic restructuring measures, employment reductions have a strong positive effect. This suggests a positive revision of the Draconian view that the successful restructuring of the US rail industry is mainly the result of workforce reductions.
AB - We investigate the restructuring of the US freight railroad industry after its deregulation. An econometric analysis of the joint effects of 'defensive' and 'strategic restructuring' reveals that, unsurprisingly, downsizing of the physical network has affected financial performance positively. Contrary to widely held beliefs, employment reductions by themselves do not explain improved performance, but controlling for interactions of network reductions and labour downsizing with strategic restructuring measures, employment reductions have a strong positive effect. This suggests a positive revision of the Draconian view that the successful restructuring of the US rail industry is mainly the result of workforce reductions.
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M3 - Article
AN - SCOPUS:84894206538
SN - 0022-5258
VL - 48
SP - 115
EP - 135
JO - Journal of Transport Economics and Policy
JF - Journal of Transport Economics and Policy
IS - PART 1
ER -
