The causal effect of corporate governance on employee satisfaction

Menner, Marco; Menninger, Frederic

The causal effect of corporate governance on employee satisfaction

Dateien

Menner_2-mrkalxv3leak5.pdfGröße: 829.17 KBDownloads: 5

Datum

2024

Open Access-Veröffentlichung

Open Access Hybrid

Sammlungen

Wirtschaftswissenschaften

Publikationstyp

Zeitschriftenartikel

Publikationsstatus

Published

Erschienen in

Journal of Financial Research. Wiley. 2024, 47(1), S. 123-146. ISSN 0270-2592. eISSN 1475-6803. Verfügbar unter: doi: 10.1111/jfir.12350

Zusammenfassung

We investigate the causal effect of increasing shareholder rights on employee satisfaction. To ensure causality, we use close shareholder votes on antitakeover provisions included in the Entrenchment Index (E‐Index) as exogenous shocks to the corporate governance of a company. A 1‐point increase in shareholder rights on the E‐Index scale causes a 10% decrease in employee satisfaction. The channels that drive our results are decreases in employees' opinion about firm culture, in their view about the company's CEO, in the number of employees, and in capital expenditures.

Fachgebiet (DDC)

330 Wirtschaft

Zitieren

ISO 690

MENNER, Marco, Frederic MENNINGER, 2024. The causal effect of corporate governance on employee satisfaction. In: Journal of Financial Research. Wiley. 2024, 47(1), S. 123-146. ISSN 0270-2592. eISSN 1475-6803. Verfügbar unter: doi: 10.1111/jfir.12350

BibTex

@article{Menner2024-03causa-68797,
  year={2024},
  doi={10.1111/jfir.12350},
  title={The causal effect of corporate governance on employee satisfaction},
  number={1},
  volume={47},
  issn={0270-2592},
  journal={Journal of Financial Research},
  pages={123--146},
  author={Menner, Marco and Menninger, Frederic}
}

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Universitätsbibliographie

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