Employee treatment and its implications for bondholders

Chen, Tsung-Kang; Chen, Yan Shing; Yang, Hsiao Lin

doi:10.1111/eufm.12196

Cited by 10 publications

(4 citation statements)

References 90 publications

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“…In the first-stage regression model, this study employs the average CSR performance variables of a firm's neighboring ones (Geo_CSR, neighboring firms in the same three-digit ZIP area in a given year) 5 as the instrument variables of the firm's CSR performance variables. Jiraporn et al (2014) and Chen et al (2018) also show that Geo_CSR variables satisfy the criteria of good instrument variables, namely, the relevance condition and the exclusion condition.…”

Section: V2 Endogeneity Issue Of the Relation Between Csr Performance And Annual Report Readabilitymentioning

confidence: 89%

Corporate Social Responsibility Performance and Annual Report Narrative Disclosure Readability.

Chen¹

2020

Preprint

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We examine the effect of corporate social responsibility (CSR) performance on annual report narrative disclosure readability. We find that firms with higher CSR performance provide less readable annual report, especially in the 'Notes to consolidated financial statements' (NOTES) section rather than 'Management Discussion and Analysis' (MD&A) section. The CSR performance effect is mainly through the channels of firm profitability and financial leverage, supporting shareholder theory and tax shield concern. Meanwhile, we also find that the channels vary with the different motivations of conducting CSR activities. Finally, the CSR performance effect on NOTES section readability significantly becomes weaker during the financial crisis period.

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Section: V2 Endogeneity Issue Of the Relation Between Csr Performance And Annual Report Readabilitymentioning

confidence: 89%

Corporate Social Responsibility Performance and Annual Report Narrative Disclosure Readability.

Chen¹

2020

Preprint

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Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

“…In a similar vein, Mao and Weathers (2019) use a slightly different employee treatment measure to show a significant positive association between favorable employee treatment and firm innovation performance. Chen et al (2019) document evidence to suggest that treating employee better may have favorable benefits to bondholders because such companies show a lower bond spread. Zhang et al (2020) find a significant negative association between employee treatment and the likelihood of corporate fraud, which suggests that such firms are more likely to honor labor contracts and value long-term relationships with their employees.…”

Section: Employee Treatmentmentioning

confidence: 99%

Employee treatment and discontinued operations

Leonard

Sun

2022

ARA

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PurposeThe authors investigate the relation between employee treatment and the likelihood of discontinuing business operations.Design/methodology/approachThe authors use regression analysis to investigate the relation between employee treatment and the likelihood of discontinuing business operations.FindingsThe authors find a significant negative relation between employee treatment and the likelihood of discontinuing business operations, suggesting that firms with better employee treatment are less likely to discontinue operations.Originality/valueThis study contributes to two distinctive steams of research: discontinued operations in accounting literature and employee welfare in human resources management literature.

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“…Many scholars and practitioners have suggested that a supportive workforce environment not only helps firms keep talented employees (Hom et al 2017;Kundu and Lata 2017), but also motivates employees to be more cooperative and efficient (Bloom et al 2011). Firms with a supportive workforce environment have high performance and valuation levels (Chen et al 2019;Habib et al 2021) and are more innovative compared to firms with a non-supportive workforce environment (Edmans 2011). Impliedly, a supportive workforce environment could be interpreted as a signal of higher levels of organizational effectiveness including employee engagement, commitment, and efficiency.…”

Section: Introductionmentioning

confidence: 99%

Gender Diversity and Human Capital Efficiency in Australian Institutions: The Moderating Role of Workforce Environment Quality

Miglani

Obeng

2023

JRFM

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We examine the relationship between board gender diversity and human capital efficiency and further consider the moderating role of workforce environment quality from the perspectives of profit-making and loss-making firms. Using a sample of 2700 firm-year observations from listed Australian firms for the period 2008–2019, we found a positive relationship between the presence of females on boards and human capital efficiency which was more pronounced for loss-making firms as against profit-making firms. Additionally, the relationship between gender diversity and human capital efficiency was moderated by the quality of workforce environment with the moderating effect being more pronounced for loss-making firms as compared to profit-making firms. Board gender diversity plays a substitutive role in the management of human capital efficiency for loss-making firms where investment in human capital development is limited.

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Employee treatment and its implications for bondholders

Cited by 10 publications

References 90 publications

Corporate Social Responsibility Performance and Annual Report Narrative Disclosure Readability.

Corporate Social Responsibility Performance and Annual Report Narrative Disclosure Readability.

Employee treatment and discontinued operations

Gender Diversity and Human Capital Efficiency in Australian Institutions: The Moderating Role of Workforce Environment Quality

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