Anthony Kyiu , Bernard Tawiah , Evans Ofosu Boamah
{"title":"Employees’ reviews and stock price informativeness","authors":"Anthony Kyiu , Bernard Tawiah , Evans Ofosu Boamah","doi":"10.1016/j.econlet.2023.111406","DOIUrl":null,"url":null,"abstract":"<div><p>We investigate the relationship between employee reviews and stock price informativeness. Using a sample of US firms, we find that firms with higher employee satisfaction are associated with greater stock price informativeness in terms of idiosyncratic volatility. We find this result to be more pronounced for firms that have a greater reliance on human capital assets. Overall, our study suggests that employee reviews have implications for financial markets.</p></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"233 ","pages":"Article 111406"},"PeriodicalIF":2.1000,"publicationDate":"2023-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economics Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0165176523004329","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
We investigate the relationship between employee reviews and stock price informativeness. Using a sample of US firms, we find that firms with higher employee satisfaction are associated with greater stock price informativeness in terms of idiosyncratic volatility. We find this result to be more pronounced for firms that have a greater reliance on human capital assets. Overall, our study suggests that employee reviews have implications for financial markets.
期刊介绍：
Many economists today are concerned by the proliferation of journals and the concomitant labyrinth of research to be conquered in order to reach the specific information they require. To combat this tendency, Economics Letters has been conceived and designed outside the realm of the traditional economics journal. As a Letters Journal, it consists of concise communications (letters) that provide a means of rapid and efficient dissemination of new results, models and methods in all fields of economic research.
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