文章基本信息

标题：DO SATISFIED EMPLOYEES LEAD TO BETTER FINANCIAL PERFORMANCE?
本地全文：下载
作者：Shahriar Saadullah ; Zabihollah Rezaee
期刊名称：Research Journal of Economics, Business and ICT
印刷版ISSN：2045-3345
电子版ISSN：2047-7848
出版年度：2012
卷号：5
出版社：English Time Schools & Overseas Education
摘要：This paper analyzes whether companies with satisfied employees yield better long term financial performance than comparable companies and whether the market values employee satisfaction. We compare the Industry Adjusted Return on Assets (ROA) and Return on Equity (ROE) of the Fortune 100 Best Companies to Work for from 19982003 with the ROA and ROE of comparable companies. We do not find that the Fortune 100 Best Companies to Work for yield a higher return than comparable companies. Also, using the list of the Fortune 100 Best Companies to Work for From 20022007, we test the market reaction by using the market event methodology of estimating Cumulative Abnormal Return (CAR) around the date of public announcement of the list. We find that the market reacts positively during periods of economic growth, which is consistent with the prior literature. However, we do not find any significant positive or negative market reaction during economic downturn. This study adds to the literature concerning issues surrounding employee satisfaction, Human Resources practices as one dimension of Corporate Social Responsibility (CSR) and organizations' financial performance.