{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,10,28]],"date-time":"2026-10-28T06:54:15Z","timestamp":1793170455528,"version":"4.5.0"},"reference-count":46,"publisher":"Oxford University Press (OUP)","issue":"1","funder":[{"DOI":"10.13039\/100000001","name":"National Science Foundation","doi-asserted-by":"publisher","award":["SES-9978093"],"award-info":[{"award-number":["SES-9978093"]}],"id":[{"id":"10.13039\/100000001","id-type":"DOI","asserted-by":"publisher"}]},{"DOI":"10.13039\/100000001","name":"National Science Foundation","doi-asserted-by":"publisher","award":["SES-0339191"],"award-info":[{"award-number":["SES-0339191"]}],"id":[{"id":"10.13039\/100000001","id-type":"DOI","asserted-by":"publisher"}]},{"DOI":"10.13039\/100000001","name":"National Science Foundation","doi-asserted-by":"publisher","award":["ITR-0427889"],"award-info":[{"award-number":["ITR-0427889"]}],"id":[{"id":"10.13039\/100000001","id-type":"DOI","asserted-by":"publisher"}]},{"DOI":"10.13039\/100000049","name":"National Institute on Aging","doi-asserted-by":"publisher","award":["AG018854"],"award-info":[{"award-number":["AG018854"]}],"id":[{"id":"10.13039\/100000049","id-type":"DOI","asserted-by":"publisher"}]},{"DOI":"10.13039\/100000879","name":"Alfred P. 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(JEL G32, G33, J21, J31, J61)<\/jats:p>\n               <jats:p>Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online.<\/jats:p>","DOI":"10.1093\/rcfs\/cfac032","type":"journal-article","created":{"date-parts":[[2022,9,10]],"date-time":"2022-09-10T10:28:28Z","timestamp":1662805708000},"page":"36-77","source":"Crossref","is-referenced-by-count":14,"title":["When Does Higher Firm Leverage Lead to Higher Employee Pay?"],"prefix":"10.1093","volume":"12","author":[{"given":"Timothy E","family":"Dore","sequence":"first","affiliation":[{"name":"Federal Reserve Board , USA"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Rebecca","family":"Zarutskie","sequence":"additional","affiliation":[{"name":"Federal Reserve Board , USA"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"286","published-online":{"date-parts":[[2022,9,10]]},"reference":[{"key":"2023011807591362900_cfac032-B1","volume-title":"Studies in labor markets","author":"Ashenfelter","year":"1981"},{"key":"2023011807591362900_cfac032-B2","doi-asserted-by":"crossref","first-page":"449","DOI":"10.1016\/j.jfineco.2012.11.006","article-title":"Labor unemployment risk and corporate financing decisions","volume":"108","author":"Agrawal","year":"2013","journal-title":"Journal of Financial Economics"},{"key":"2023011807591362900_cfac032-B3","doi-asserted-by":"crossref","first-page":"130","DOI":"10.1016\/j.jfineco.2010.10.019","article-title":"Employee treatment and firm leverage: A test of the stakeholder theory of capital structure","volume":"100","author":"Bae","year":"2011","journal-title":"Journal of Financial Economics"},{"key":"2023011807591362900_cfac032-B4","doi-asserted-by":"crossref","first-page":"2907","DOI":"10.1111\/jofi.13077","article-title":"Talent in distressed firms: Investigating the labor costs of financial distress","volume":"76","author":"Baghai","year":"2021","journal-title":"Journal of Finance"},{"key":"2023011807591362900_cfac032-B5","doi-asserted-by":"crossref","first-page":"9","DOI":"10.1086\/258724","article-title":"Investment in human capital: A theoretical analysis","volume":"70","author":"Becker","year":"1962","journal-title":"Journal of Political Economy"},{"key":"2023011807591362900_cfac032-B6","doi-asserted-by":"crossref","first-page":"28","DOI":"10.1093\/rcfs\/cfr001","article-title":"Negotiating with labor under financial distress","volume":"1","author":"Benmelech","year":"2012","journal-title":"Review of Corporate Financial Studies"},{"key":"2023011807591362900_cfac032-B7","doi-asserted-by":"crossref","first-page":"891","DOI":"10.1111\/j.1540-6261.2010.01556.x","article-title":"Human capital, bankruptcy and capital structure","volume":"65","author":"Berk","year":"2010","journal-title":"Journal of Finance"},{"key":"2023011807591362900_cfac032-B8","doi-asserted-by":"crossref","first-page":"1339","DOI":"10.1093\/rfs\/hhn044","article-title":"Forecasting default with the Merton distance to default model","volume":"21","author":"Bharath","year":"2008","journal-title":"Review of Financial Studies"},{"key":"2023011807591362900_cfac032-B9","doi-asserted-by":"crossref","first-page":"87","DOI":"10.1016\/j.jue.2012.04.003","article-title":"Thick-market effects and churning in the labor market: Evidence from U.S. cities","volume":"72","author":"Bleakley","year":"2012","journal-title":"Journal of Urban Economics"},{"key":"2023011807591362900_cfac032-B10","doi-asserted-by":"crossref","first-page":"507","DOI":"10.1111\/jofi.12367","article-title":"Boarding a sinking ship? 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