Quality of working environment and corporate financial distress
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Talavera, O
Wood, G
Yin, S
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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.
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Finance Research Letters
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© 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.
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Banking, finance and investment
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Pham, T; Talavera, O; Wood, G; Yin, S, Quality of working environment and corporate financial distress, Finance Research Letters, 2021, pp. 102449