Job Search with Financial Information: Theory and Evidence

Choi, Bong-Geun; Choi, Jung Kyu; Malik, Sara

doi:10.2139/ssrn.3744498

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Cited by 4 publications

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“…Simon (1989) andPirrong (1995) show that financial regulation can improve market e↵ectiveness (in the sense that we are using that term here) by improving the credibility of firm financial reporting and by reducing market manipulation Choi, Choi, and Malik (2020). find that job seekers use firm financial information in their job searches, andBrogaard, Ringgenberg, and Sovich (2019) find that more accurate prices enable market participants to improve their productive decisions.…”

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Ideas, Idea Processing, and TFP Growth in the US: 1899 to 2019

2022

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mentioning

confidence: 97%

Ideas, Idea Processing, and TFP Growth in the US: 1899 to 2019

2022

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Not Just for Investment and Job Search: The Role of Earnings Announcement as a Driver of Cyber Risks

Hamza

2024

Technical and Vocational Education and Training: Issues, Concerns and Prospects

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Fraudulent Financial Reporting and the Consequences for Employees

Choi

Gipper

2019

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We examine employment effects, such as wages and employee turnover, before, during, and after periods of fraudulent financial reporting. To analyze these effects, we combine U.S. Census data with SEC enforcement actions against firms with serious misreporting ("fraud"). We find, compared to a matched sample, that fraud firms' employee wages decline by 9% and the separation rate is higher by 12% during and after fraud periods. Employment growth at fraud firms is positive during fraud periods and negative afterward. We explore the heterogeneous effects of fraudulent financial reporting, including thin and thick labor markets, bankruptcy and non-bankruptcy firms, worker movements, pre-fraud wage levels, and period of hire. Negative wage effects are particularly severe in thin labor markets, for bankrupt, fraud firms, and lower wage employees. However, some negative wage effects occur across these sample cuts, indicating that fraudulent financial reporting appears to create meaningful and prevalent consequences for employees. We discuss how our results can be consistent with channels such as labor market disruptions, punishment, and stigma.

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Job Search with Financial Information: Theory and Evidence

Cited by 4 publications

References 49 publications

Ideas, Idea Processing, and TFP Growth in the US: 1899 to 2019

Ideas, Idea Processing, and TFP Growth in the US: 1899 to 2019

Not Just for Investment and Job Search: The Role of Earnings Announcement as a Driver of Cyber Risks

Fraudulent Financial Reporting and the Consequences for Employees

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