Organization capital, labor market flexibility, and stock returns around the world

No Thumbnail Available
File version
Author(s)
Leung, WS
Mazouz, K
Chen, J
Wood, G
Griffith University Author(s)
Primary Supervisor
Other Supervisors
Editor(s)
Date
2018
Size
File type(s)
Location
License
Abstract

Using data from 20 OECD countries, we find that firms with greater organization capital have significantly higher stock returns and that this represents an international phenomenon. We also find new evidence that the positive association between organization capital and stock returns increases with labor market flexibility. This finding is consistent with greater labor mobility and competition in flexible labor markets rendering organization capital investment riskier from the shareholders’ perspective.

Journal Title

Journal of Banking and Finance

Conference Title
Book Title
Edition
Volume

89

Issue
Thesis Type
Degree Program
School
Publisher link
Patent number
Funder(s)
Grant identifier(s)
Rights Statement
Rights Statement
Item Access Status
Note
Access the data
Related item(s)
Subject

Applied mathematics

Economic theory

Economic theory not elsewhere classified

Persistent link to this record
Citation
Collections