Employee treatment and its implications for bondholders

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

研究成果: Article同行評審

8 引文 斯高帕斯(Scopus)

摘要

We examine the various channels through which the quality of a firm's employee relations can affect the welfare of bondholders. Our evidence suggests that better employee treatment benefits bondholders and leads to a lower bond spread by enhancing a firm's productivity, and by reducing the likelihood of product failures, labor strife, and employee turnover. However, a higher level of satisfaction is costlier for bondholders in firms facing more severe financial constraints or agency problems.

原文American English
頁(從 - 到)1047-1079
頁數33
期刊European Financial Management
25
發行號4
DOIs
出版狀態Published - 1 9月 2019

指紋

深入研究「Employee treatment and its implications for bondholders」主題。共同形成了獨特的指紋。

引用此