Quality of working environment and corporate financial distressPham, T., Talavera, O., Wood, G. and Yin, S. (2022) Quality of working environment and corporate financial distress. Finance Research Letters, 46 (PartB). 102449. ISSN 1544-6123
It is advisable to refer to the publisher's version if you intend to cite from this work. See Guidance on citing. To link to this item DOI: 10.1016/j.frl.2021.102449 Abstract/SummaryThis study examines the impacts of the 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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