Employee satisfaction and stock returns during the COVID-19 Pandemic

The COVID-19 Pandemic has had an unprecedented impact on how employees and employers operate. Employees, directly affected by workplace changes, may provide information regarding future efficiencies. As a result, crowdsourced employee satisfaction (ES) reviews mentioning the COVID-19 Pandemic may co...

Full description

Saved in:
Bibliographic Details
Published in:Journal of behavioral and experimental finance 2022-03, Vol.33, p.100603-100603, Article 100603
Main Authors: Becker, Mary, Cardazzi, Alexander, McGurk, Zachary
Format: Article
Language:English
Subjects:
Abnormal returns
COVID-19 Pandemic
Employee satisfaction
Glassdoor
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The COVID-19 Pandemic has had an unprecedented impact on how employees and employers operate. Employees, directly affected by workplace changes, may provide information regarding future efficiencies. As a result, crowdsourced employee satisfaction (ES) reviews mentioning the COVID-19 Pandemic may contain useful information regarding the future profitability of these firms. We utilize crowdsourced COVID-19 Pandemic specific ES obtained from Glassdoor.com to determine the impact on abnormal stock returns for public firms from March–December 2020. We find evidence that higher COVID-19 ES is related to higher abnormal stock returns. While non-COVID ES is found not to be related to abnormal stock returns.
ISSN:2214-6350
2214-6350
DOI:10.1016/j.jbef.2021.100603