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Employee treatment and firm leverage : a test of the stakeholder theory of capital structure

หน่วยงาน Nanyang Technological University, Singapore

รายละเอียด

ชื่อเรื่อง : Employee treatment and firm leverage : a test of the stakeholder theory of capital structure
นักวิจัย : Bae, Kee-Hong , Kang, Jun-Koo , Wang, Jin
คำค้น : -
หน่วยงาน : Nanyang Technological University, Singapore
ผู้ร่วมงาน : -
ปีพิมพ์ : 2553
อ้างอิง : Bae, K. H., Kang, J. K., & Wang, J. (2011). Employee treatment and firm leverage: A test of the stakeholder theory of capital structure. Journal of Financial Economics, 100(1), 130-153. , 0304-405X , http://hdl.handle.net/10220/18132 , http://dx.doi.org/10.1016/j.jfineco.2010.10.019
ที่มา : -
ความเชี่ยวชาญ : -
ความสัมพันธ์ : Journal of financial economics
ขอบเขตของเนื้อหา : -
บทคัดย่อ/คำอธิบาย :

We investigate the stakeholder theory of capital structure from the perspective of a firm’s relations with its employees. We find that firms that treat their employees fairly (as measured by high employee‐friendly ratings) maintain low debt ratios. This result is robust to a variety of model specifications and endogeneity issues. The negative relation between leverage and a firm’s ability to treat employees fairly is also evident when we measure its ability by whether it is included in the Fortune magazine list, “100 Best Companies to Work For.” These results suggest that a firm’s incentive or ability to offer fair employee treatment is an important determinant of its financing policy.

บรรณานุกรม :
Bae, Kee-Hong , Kang, Jun-Koo , Wang, Jin . (2553). Employee treatment and firm leverage : a test of the stakeholder theory of capital structure.
    กรุงเทพมหานคร : Nanyang Technological University, Singapore.
Bae, Kee-Hong , Kang, Jun-Koo , Wang, Jin . 2553. "Employee treatment and firm leverage : a test of the stakeholder theory of capital structure".
    กรุงเทพมหานคร : Nanyang Technological University, Singapore.
Bae, Kee-Hong , Kang, Jun-Koo , Wang, Jin . "Employee treatment and firm leverage : a test of the stakeholder theory of capital structure."
    กรุงเทพมหานคร : Nanyang Technological University, Singapore, 2553. Print.
Bae, Kee-Hong , Kang, Jun-Koo , Wang, Jin . Employee treatment and firm leverage : a test of the stakeholder theory of capital structure. กรุงเทพมหานคร : Nanyang Technological University, Singapore; 2553.