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  • Quality of working environment and corporate financial distress

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    Embargoed until: 2023-09-15
    File version
    Accepted Manuscript (AM)
    Author(s)
    Pham, T
    Talavera, O
    Wood, G
    Yin, S
    Griffith University Author(s)
    Wood, Geoffery
    Year published
    2021
    Metadata
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    Abstract
    This study examines the impacts of quality of working environment and its components on corporate financial distress. Employing a unique dataset of firm-level data from 41 countries over the period of 2012–2018, we find that a better working environment is related to a higher level of financial soundness. Particularly, firms which have better training and career development policies are less likely to take excessive risks. Further examination suggests that the quality of working environment tends to affect corporate financial risk by influencing firms’ cash holding policies.This study examines the impacts of quality of working environment and its components on corporate financial distress. Employing a unique dataset of firm-level data from 41 countries over the period of 2012–2018, we find that a better working environment is related to a higher level of financial soundness. Particularly, firms which have better training and career development policies are less likely to take excessive risks. Further examination suggests that the quality of working environment tends to affect corporate financial risk by influencing firms’ cash holding policies.
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    Journal Title
    Finance Research Letters
    DOI
    https://doi.org/10.1016/j.frl.2021.102449
    Copyright Statement
    © 2021 Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Licence (http://creativecommons.org/licenses/by-nc-nd/4.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, providing that the work is properly cited.
    Note
    This publication has been entered in Griffith Research Online as an advanced online version.
    Subject
    Banking, finance and investment
    Publication URI
    http://hdl.handle.net/10072/408947
    Collection
    • Journal articles

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