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The purpose of this dissertation is to study whether and to what extent dismissal laws
affect firm profitability. To achieve this goal, a within-country analysis was conducted
into U.S. firms that were affected by the passage of the federal Worker Adjustment
and Retraining Notification Act of 1989 (the WARN Act) in the years between 1980 and
2000. The results show that the introduction of such dismissal law had a positive and
statistically significant impact on firm profitability. Furthermore, this effect was
particularly pronounced for those firms that invested in R&D expenditure.