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Employees’ online reviews and equity prices

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  • Symitsi, Efthymia
  • Stamolampros, Panagiotis
  • Daskalakis, George

Abstract

We examine the effect of employee satisfaction on corporate performance using employees’ online reviews. Our results indicate that although employee satisfaction positively impacts corporate performance, this is not fully reflected in equity prices.

Suggested Citation

  • Symitsi, Efthymia & Stamolampros, Panagiotis & Daskalakis, George, 2018. "Employees’ online reviews and equity prices," Economics Letters, Elsevier, vol. 162(C), pages 53-55.
    • Handle: RePEc:eee:ecolet:v:162:y:2018:i:c:p:53-55
    DOI: 10.1016/j.econlet.2017.10.027
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    References listed on IDEAS

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    1. Luigi Zingales, 2000. "In Search of New Foundations," Journal of Finance, American Finance Association, vol. 55(4), pages 1623-1653, August.
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    3. Greg Filbeck & Dianna Preece, 2003. ""Fortune's" Best 100 Companies to Work for in America: Do They Work for Shareholders?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 30(5-6), pages 771-797.
    4. Huang, Minjie & Li, Pingshu & Meschke, Felix & Guthrie, James P., 2015. "Family firms, employee satisfaction, and corporate performance," Journal of Corporate Finance, Elsevier, vol. 34(C), pages 108-127.
    5. Edmans, Alex, 2011. "Does the stock market fully value intangibles? Employee satisfaction and equity prices," Journal of Financial Economics, Elsevier, vol. 101(3), pages 621-640, September.
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    Citations

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    Cited by:

    1. Symitsi, Efthymia & Stamolampros, Panagiotis & Daskalakis, George & Korfiatis, Nikolaos, 2021. "The informational value of employee online reviews," European Journal of Operational Research, Elsevier, vol. 288(2), pages 605-619.
    2. Kyiu, Anthony & Tawiah, Bernard & Boamah, Evans Ofosu, 2023. "Employees’ reviews and stock price informativeness," Economics Letters, Elsevier, vol. 233(C).
    3. Ho, Hillbun & Kim, Namwoon & Reza, Sadat, 2022. "CSR and CEO pay: Does CEO reputation matter?," Journal of Business Research, Elsevier, vol. 149(C), pages 1034-1049.
    4. Greg Filbeck & Xin Zhao & Matthew Warnaka, 2022. "Glassdoor's best places to work internationally: Are they best for shareholders?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(4), pages 4350-4363, October.
    5. Farhadi, Reza & Nanda, Vikram, 2021. "What do employees know? Quality perception and ‘over-satisfaction’ in firms going public," Journal of Corporate Finance, Elsevier, vol. 66(C).
    6. Kim, Jonghwan (Simon) & Jeon, Heung-Jae & Kim, Grace Goun, 2022. "Overconfidence or competence? Your employees know," Economics Letters, Elsevier, vol. 216(C).
    7. Dirk Nicolas Wagner, 2019. "The Opportunistic Principal," Kyklos, Wiley Blackwell, vol. 72(4), pages 637-657, November.
    8. Stamolampros, Panagiotis & Korfiatis, Nikolaos & Chalvatzis, Konstantinos & Buhalis, Dimitrios, 2020. "Harnessing the “wisdom of employees” from online reviews," Annals of Tourism Research, Elsevier, vol. 80(C).
    9. Laura Neumeyer & Anna Gründler & Anna-Luisa Stöber, 2023. "Don’t Worry, Be Happy—Does the CEO’s Personality Mitigate the Negative Effect of Financial Constraints on Employee Satisfaction?," Schmalenbach Journal of Business Research, Springer, vol. 75(1), pages 71-98, March.

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    More about this item

    Keywords

    Employee satisfaction; Human capital; Intangibles; Online reviews;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises

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