Does it pay to treat employees well?: The case of informal finance

IF 2.2 3区管理学 Q2 BUSINESS, FINANCE Journal of Business Finance & Accounting Pub Date : 2023-05-17 DOI:10.1111/jbfa.12702

Vuong Thao Tran, Van Hoang Vu, Anh Le, Dinh Hoang Bach Phan

引用次数: 0

Abstract

We examine the role of employee treatment in firms’ access to informal finance in the form of trade credit. We find that better employee treatment improves the amount of informal finance a firm can obtain. This effect is stronger in environments with (1) more intensive product market competition, (2) highly customized inputs, (3) lower social capital and (4) high demand for skilled labor. Furthermore, the role of employee treatment varies according to a firm's financial health and liquidity. Employee treatment becomes less important for firms having a low level of liquidity but is more pronounced for firms experiencing financial distress.

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善待员工是否值得？非正规金融案例

我们研究了员工待遇在企业获得贸易信贷形式的非正规融资中的作用。我们发现，改善员工待遇能提高企业获得的非正规融资额。这种效应在以下环境中更为明显：（1）更激烈的产品市场竞争；（2）高度定制化的投入；（3）较低的社会资本；（4）对熟练劳动力的高需求。此外，员工待遇的作用因企业的财务健康状况和流动性而异。对于流动性较低的企业来说，员工待遇的重要性较低，但对于陷入财务困境的企业来说，员工待遇的重要性则更为突出。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Business Finance & Accounting BUSINESS, FINANCE-

CiteScore

4.40

自引率

17.20%

发文量

期刊介绍： Journal of Business Finance and Accounting exists to publish high quality research papers in accounting, corporate finance, corporate governance and their interfaces. The interfaces are relevant in many areas such as financial reporting and communication, valuation, financial performance measurement and managerial reward and control structures. A feature of JBFA is that it recognises that informational problems are pervasive in financial markets and business organisations, and that accounting plays an important role in resolving such problems. JBFA welcomes both theoretical and empirical contributions. Nonetheless, theoretical papers should yield novel testable implications, and empirical papers should be theoretically well-motivated. The Editors view accounting and finance as being closely related to economics and, as a consequence, papers submitted will often have theoretical motivations that are grounded in economics. JBFA, however, also seeks papers that complement economics-based theorising with theoretical developments originating in other social science disciplines or traditions. While many papers in JBFA use econometric or related empirical methods, the Editors also welcome contributions that use other empirical research methods. Although the scope of JBFA is broad, it is not a suitable outlet for highly abstract mathematical papers, or empirical papers with inadequate theoretical motivation. Also, papers that study asset pricing, or the operations of financial markets, should have direct implications for one or more of preparers, regulators, users of financial statements, and corporate financial decision makers, or at least should have implications for the development of future research relevant to such users.

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