Earticle

초록

영어

This paper examines the relationship between employees' satisfaction with their company and the firm's cash holdings. Using Glassdoor ratings, we find that companies with higher employee satisfaction with their companies hold more cash. The positive impact of employee satisfaction on a company's cash holdings remains significant, not only for employees' overall satisfaction with the company, but also for satisfaction with various aspects of the workplace. Additionally, this relationship only exists in firms that do not have environmental or social concerns, and companies that do have environmental or social concerns do not strategically choose the level of cash holdings. Overall, these results highlight that companies strategically set their cash holdings conscious of employee satisfaction.

목차

Abstract
1. Introduction
2. Literature Review and Hypothesis Development
2.1 Determinants of cash holdings
2.2 Labor market and corporate cash holdings
2.3 Employee satisfaction and its influences
2.4 Hypothesis development
3. Data and Methodology
3.1. Data
3.2. Empirical strategy
4. Empirical Results
4.1. Univariate Analysis
4.2. Main Results
4.3. Robustness Check
5. The Role of ESG
6. Conclusion
References
Appendix
Figure
Table

저자

• Woobin Jeong [ Graduate School of Finance, College of Business, Korea Advanced Institute of Science and Technology (KAIST), Seoul, Republic of Korea ]
• Kwangwoo Park [ Graduate School of Finance, College of Business, Korea Advanced Institute of Science and Technology (KAIST), Seoul, Republic of Korea ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  한국재무학회 학술대회

• 간기

  부정기

• 수록기간

  2006~2024

• 십진분류

  KDC 325 DDC 330