Labor-Friendly Corporate Practices: Is What is Good for Employees Good for Shareholders?
As corporate managers interact with non-shareholder stakeholders, potential tradeoffs emerge and questions arise as to how these interactions impact shareholder value. We argue that this shareholder–stakeholder debate is an important issue within the overall corporate governance and corporate policy...
| Authors: | ; |
|---|---|
| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Journals Online & Print: | Drawer...
|
| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Published: |
Springer Science + Business Media B. V
2011
|
| In: |
Journal of business ethics
Year: 2011, Volume: 101, Issue: 1, Pages: 1-27 |
| Further subjects: | B
Corporate social responsibility
B Agency Theory B Stakeholder Theory B employee stakeholders |
| Online Access: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
MARC
| LEADER | 00000caa a22000002 4500 | ||
|---|---|---|---|
| 001 | 1785641999 | ||
| 003 | DE-627 | ||
| 005 | 20230331053206.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 220112s2011 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.1007/s10551-010-0705-9 |2 doi | |
| 035 | |a (DE-627)1785641999 | ||
| 035 | |a (DE-599)KXP1785641999 | ||
| 035 | |a (DE-He213)s10551-010-0705-9-e | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 084 | |a 1 |2 ssgn | ||
| 100 | 1 | |a Faleye, Olubunmi |e VerfasserIn |4 aut | |
| 245 | 1 | 0 | |a Labor-Friendly Corporate Practices: Is What is Good for Employees Good for Shareholders? |
| 264 | 1 | |c 2011 | |
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 520 | |a As corporate managers interact with non-shareholder stakeholders, potential tradeoffs emerge and questions arise as to how these interactions impact shareholder value. We argue that this shareholder–stakeholder debate is an important issue within the overall corporate governance and corporate policy domain and examine one such stakeholder group – employees – by studying labor-friendly corporate practices. We find that announcements of labor-friendly policies are associated with positive abnormal stock returns. Labor-friendly firms also outperform otherwise similar firms, both in terms of long-run stock market returns and operating results. In addition, we find that the probability and benefits of labor-friendliness increase with the demand for highly skilled labor. Our analysis of excess executive compensation suggests that top management derives no pecuniary benefits from labor-friendly practices. We interpret our results as consistent with a genuine concern for employees translating into higher productivity and profitability, which in turn facilitate value creation. It appears that the benefits of labor-friendly practices significantly outweigh the costs and that what is good for employees is good for shareholders. | ||
| 650 | 4 | |a Agency Theory | |
| 650 | 4 | |a Stakeholder Theory | |
| 650 | 4 | |a employee stakeholders | |
| 650 | 4 | |a Corporate Social Responsibility | |
| 700 | 1 | |a Trahan, Emery A. |e VerfasserIn |4 aut | |
| 773 | 0 | 8 | |i Enthalten in |t Journal of business ethics |d Dordrecht [u.a.] : Springer Science + Business Media B.V, 1982 |g 101(2011), 1, Seite 1-27 |h Online-Ressource |w (DE-627)270937129 |w (DE-600)1478688-6 |w (DE-576)121465284 |x 1573-0697 |7 nnns |
| 773 | 1 | 8 | |g volume:101 |g year:2011 |g number:1 |g pages:1-27 |
| 856 | |3 Volltext |u http://www.jstor.org/stable/41475882 |x JSTOR | ||
| 856 | 4 | 0 | |u https://doi.org/10.1007/s10551-010-0705-9 |x Resolving-System |z lizenzpflichtig |3 Volltext |
| 935 | |a mteo | ||
| 936 | u | w | |d 101 |j 2011 |e 1 |h 1-27 |
| 951 | |a AR | ||
| ELC | |a 1 | ||
| ITA | |a 1 |t 1 | ||
| LOK | |0 000 xxxxxcx a22 zn 4500 | ||
| LOK | |0 001 4033700870 | ||
| LOK | |0 003 DE-627 | ||
| LOK | |0 004 1785641999 | ||
| LOK | |0 005 20220112043733 | ||
| LOK | |0 008 220112||||||||||||||||ger||||||| | ||
| LOK | |0 035 |a (DE-Tue135)IxTheo#2021-12-30#B7E064E898C9ABA25651E96066B3C323A4CC323C | ||
| LOK | |0 040 |a DE-Tue135 |c DE-627 |d DE-Tue135 | ||
| LOK | |0 092 |o n | ||
| LOK | |0 852 |a DE-Tue135 | ||
| LOK | |0 852 1 |9 00 | ||
| LOK | |0 866 |x JSTOR#http://www.jstor.org/stable/41475882 | ||
| LOK | |0 935 |a ixzs |a ixrk |a zota | ||
| ORI | |a SA-MARC-ixtheoa001.raw | ||
| STA | 0 | 0 | |a Corporate social responsibility |
| STB | 0 | 0 | |a Responsabilité sociale de l'entreprise |
| STC | 0 | 0 | |a Responsabilidad social de la empresa |
| STD | 0 | 0 | |a Corporate social responsibility,Responsabilità sociale d'impresa,Responsabilità sociale d'impresa |
| STF | 0 | 0 | |a 企業社會責任 |
| STG | 0 | 0 | |a Responsabilidade social da empresa |
| STH | 0 | 0 | |a Корпоративная социальная ответственность |
| STI | 0 | 0 | |a Εταιρική κοινωνική ευθύνη,Corporate social responsibility |
| SYE | 0 | 0 | |a Corporate social responsibility,Corporate citizenship,Corporate environment responsibility,Corporate environmental responsibility,Corporate responsibility,Corporate sustainability management,Corporate volunteering,CSR (Corporate social responsibility),Environmental social governance,ESG,Gesellschaftliche Unternehmensverantwortung,Gesellschaftliche Verantwortung von Unternehmen,Gesellschaftliches Engagement von Unternehmen,Nachhaltigkeitsmanagement,Soziale Verantwortung von Unternehmen,Soziales Engagement von Unternehmen,Unternehmensverantwortung,Unternehmerische Sozialverantwortung,CSR,Corporate Citizenship,Unternehmerische Gesellschaftsverantwortung,Unternehmerische Sozialverantwortung,Unternehmen |