Bronars (1993)

Bronars, Stephen. "Unionization, Incomplete Contracting, and Capital Investment." The Journal of Business, January 1993.

This review of the literature on the financial impact of unionization cites 15 studies associating reduced investment with unions. Analyzes Compustat data on 667 firms and finds substantially lower investment and employment growth in unionized firms.

Link:  https://www.jstor.org/stable/2353344