Quality of working environment and corporate financial distress

Tho Pham; Oleksandr Talavera; Geoffrey Wood; Shuxing  Yin

doi:10.1016/j.frl.2021.102449

Quality of working environment and corporate financial distress

Tho Pham, Oleksandr Talavera, Geoffrey Wood, Shuxing Yin

Economics

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Abstract

This study examines the impacts of quality of working environment and its components on corporate financial distress. Employing a unique dataset of firm-level data from 41 countries over the period of 2012–2018, we find that a better working environment is related to a higher level of financial soundness. Particularly, firms which have better training and career development policies are less likely to take excessive risks. Further examination suggests that the quality of working environment tends to affect corporate financial risk by influencing firms’ cash holding policies.

Original language	English
Article number	102449
Journal	Finance Research Letters
Early online date	15 Sept 2021
DOIs	https://doi.org/10.1016/j.frl.2021.102449
Publication status	E-pub ahead of print - 15 Sept 2021

Keywords

Financial distress
Quality of life
Quality of working environment
Risk taking

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Cite this

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Quality of working environment and corporate financial distress

Abstract

Keywords

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