IDEAS home Printed from https://ideas.repec.org/a/eee/ecolet/v162y2018icp53-55.html
   My bibliography  Save this article

Employees’ online reviews and equity prices

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0165176517304433
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.econlet.2017.10.027?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Amir, Eli & Lev, Baruch, 1996. "Value-relevance of nonfinancial information: The wireless communications industry," Journal of Accounting and Economics, Elsevier, vol. 22(1-3), pages 3-30, October.
    2. 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.
    3. Luigi Zingales, 2000. "In Search of New Foundations," Journal of Finance, American Finance Association, vol. 55(4), pages 1623-1653, August.
    4. 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.
    5. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kyiu, Anthony & Tawiah, Bernard & Boamah, Evans Ofosu, 2023. "Employees’ reviews and stock price informativeness," Economics Letters, Elsevier, vol. 233(C).
    2. Dirk Nicolas Wagner, 2019. "The Opportunistic Principal," Kyklos, Wiley Blackwell, vol. 72(4), pages 637-657, November.
    3. 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).
    4. 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.
    5. 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.
    6. 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.
    7. 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.
    8. 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).
    9. Kim, Jonghwan (Simon) & Jeon, Heung-Jae & Kim, Grace Goun, 2022. "Overconfidence or competence? Your employees know," Economics Letters, Elsevier, vol. 216(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    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. Li, John, 2022. "The effect of employee satisfaction on effective corporate tax planning: Evidence from Glassdoor," Advances in accounting, Elsevier, vol. 57(C).
    3. Barnes, Spencer & Cheng, Yingmei, 2023. "Employee approval of CEOs and firm value: Evidence from Employees' choice awards," Journal of Corporate Finance, Elsevier, vol. 78(C).
    4. Shima Amini & Sofia Johan & Eilnaz Kashefi Pour & Abdulkadir Mohamed, 2023. "Employee Welfare, Social Capital, and IPO Firm Survival," Entrepreneurship Theory and Practice, , vol. 47(6), pages 2174-2204, November.
    5. Boubaker, Sabri & Chourou, Lamia & Haddar, Marwa & Hamza, Taher, 2019. "Does employee welfare affect corporate debt maturity?," European Management Journal, Elsevier, vol. 37(5), pages 674-686.
    6. 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.
    7. Sabrina Wieland & Benjamin Scott Flavel, 2015. "The relationship between employee orientation, financial performance and leverage," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 11(4), pages 716-733, October.
    8. Dischinger, Matthias & Riedel, Nadine, 2011. "Corporate taxes and the location of intangible assets within multinational firms," Journal of Public Economics, Elsevier, vol. 95(7-8), pages 691-707, August.
    9. Guillermo Badía & Luis Ferruz & Maria Céu Cortez, 2021. "The performance of social responsible investing from retail investors' perspective: international evidence," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 6074-6088, October.
    10. Chen, Jie & Leung, Woon Sau & Evans, Kevin P., 2016. "Are employee-friendly workplaces conducive to innovation?," Journal of Corporate Finance, Elsevier, vol. 40(C), pages 61-79.
    11. Borgers, Arian & Derwall, Jeroen & Koedijk, Kees & ter Horst, Jenke, 2013. "Stakeholder relations and stock returns: On errors in investors' expectations and learning," Journal of Empirical Finance, Elsevier, vol. 22(C), pages 159-175.
    12. Matthias Dischinger & Nadine Riedel, 2008. "Corporate Taxes, Profit Shifting and the Location of Intangibles within Multinational Firms," Working Papers 060, Bavarian Graduate Program in Economics (BGPE).
    13. Basse Mama, Houdou, 2018. "Innovative efficiency and stock returns: Should we care about nonlinearity?," Finance Research Letters, Elsevier, vol. 24(C), pages 81-89.
    14. Liang, H. & Renneboog, Luc & Vansteenkiste, Cara, 2017. "Corporate Employee-Engagement and Merger Outcomes," Other publications TiSEM ab3f7a1d-a202-48b7-9c75-1, Tilburg University, School of Economics and Management.
    15. Kim, Jonghwan (Simon) & Ra, Kyeongheum, 2022. "Employee satisfaction and asymmetric cost behavior: Evidence from Glassdoor," Economics Letters, Elsevier, vol. 219(C).
    16. Jiao, Yawen, 2010. "Stakeholder welfare and firm value," Journal of Banking & Finance, Elsevier, vol. 34(10), pages 2549-2561, October.
    17. Tu Nguyen & Sandy Suardi & Jing Zhao, 2021. "Employee Treatment and Bank Default Risk during the Credit Crisis," Journal of Financial Services Research, Springer;Western Finance Association, vol. 59(3), pages 173-208, June.
    18. Amin, Md Ruhul & Kim, Incheol & Lee, Suin, 2021. "Local religiosity, workplace safety, and firm value," Journal of Corporate Finance, Elsevier, vol. 70(C).
    19. Veda Fatmy & John Kihn & Jukka Sihvonen & Sami Vähämaa, 2022. "Does lesbian and gay friendliness pay off? A new look at LGBT policies and firm performance," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(1), pages 213-242, March.
    20. Frédérique Bardinet, 2016. "Comparaison de trois méthodologies ESG : les différences de notations des bases de données extra financières," Post-Print hal-01900607, HAL.

    More about this item

    Keywords

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

    JEL classification:

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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecolet:v:162:y:2018:i:c:p:53-55. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ecolet .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.