Employee Treatment and Firm Leverage: A Test of the Stakeholder Theory of Capital Structure

By Kee‐Hong Bae, Jun-Koo Kang, Jin Wang. 2011

546 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7be833c3f334c2769cf36f06145749c4f07d454e

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Citations in the corpus

Greed or Good Deeds: An Examination of the Relation between Corporate Social Responsibility and the Financial Performance of U.S. Commercial Banks around the Financial Crisis (2016, unknown): “For example, Bae et al. (2011) find a firm’s incentive or ability to offer fair employee treatment is an important determinant of its financing policy. Edmans (2011) finds that firms’ concerns for other stakeholders, such as employees, may ultimately benefit shareholders.”
The effect of CEO inside debt holdings on financial reporting quality (2015, methodology): “As with Bae et al. (2011) and Deng et al. (2013), I use the bootstrapped standard errors to conduct statistical inferences.”
Cash holdings and labor heterogeneity:the role of skilled labor (2017, unknown): “…through a number of labor-related considerations such as the human costs of bankruptcy (Berk, Stanton, and Zechner 2010), strategic bargaining with labor unions (Matsa 2010), employee treatment (Bae, Kang, and Wang 2011), unemployment risk (Agrawal and Matsa 2013), and labor market size (Kim 2015).”
Be nice to your innovators: employee treatment and corporate innovation performance (2016, methodology): “Bae et al. (2011) show a strong positive relation between the pension expense per employee five years ago and the current employee treatment score.”
Employee Ownership and Firm Disclosure (2015, methodology): “…good relationship, the firm may be more forthcoming with private information and there may be less need to be opaque.39 To test this idea, we follow Bae, Kang, and Wang (2011) and Edmans (2011) who use whether a company is included in the Fortune Magazine “100 Best Companies to Work For” list as a…”
From Finance to Marketing: The Impact of Financial Leverage on Customer Satisfaction (2015, background): “The dominant paradigm in corporate finance theory views the firm as a nexus of contracts between various financial and nonfinancial stakeholders (Bae, Kang, and Wang 2011).”
Endogeneity in CEO power: A survey and experiment (2016, unknown): “Bae, Kang, and Wang (2011) controlled for lagged leverage to predict future leverage.”
Non-Executive Employee Stock Options and Corporate Innovation (2015, unknown): “Bae, Kang, and Wang (2011) argue that firms are more likely to adopt employee friendly policy if they value employees‟ firmspecific human capital.”
Do Firms’ Relationships with Principal Customers/Suppliers Affect Shareholders' Income? (2012, unknown): “…that a firm's relationship with its non-financial stakeholders influences a wide spectrum of corporate policies, such as capital structure choice (Bae et al., 2011; Banerjee et al., 2008; Kale and Shahrur, 2007; Maksimovic and Titman, 1991; Titman, 1984; Titman and Wessels, 1988), corporate…”
Corporate Social Responsibility and Investment Efficiency (2016, unknown): “Its rating is considered as a standard in CSR and has been widely used by researchers (e.g. Bae et al. 2011; Bouslah et al. 2013; Hillman and Keim 2001; Krüger 2015; Servaes and Tamayo 2013; Sharfman 1996).”