Labour & Finance

Labour & Finance

This page is intended as a resource for issues pertaining to Labour & Finance and corporate governance as examined through the disciplines of economics, business strategy, law and other areas.

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Employees

Labour

Risk

01 September 2016

Labor Representation in Governance as an Insurance Mechanism

We hypothesize that labor participation in governance helps improve risk sharing between employees and employers. It provides an ex-post mechanism to enforce implicit insurance contracts protecting employees against adverse...

E. Han Kim | Ernst Maug | Christoph Schneider

Accounting

01 December 2015

The Effect of Regulatory Harmonization on Cross-border Labor Migration:Evidence from the Accounting Profession

The paper examines whether international regulatory harmonization increases cross-border labor migration. To study this question, we analyze European Union (EU) initiatives that harmonized accounting and auditing standards....

Matthew Bloomfield | Ulf Brüggemann | Hans Christensen | Christian Leuz

Employees

01 July 2014

Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around the World

We study the relationship between employee satisfaction and stock returns across 30 countries. Employee satisfaction is associated with superior long-run returns in flexible labor markets, such as the US and UK, but not rigid labor...

Alex Edmans | Lucius Li | Chendi Zhang

Banking

01 November 2008

Banks and Labor as Stakeholders: Impact on Economic Performance

Traditionally, the impacts of the rights of financial institutions and workers on corporate performance have been analyzed independently. Yet, theory clearly indicates that the combination of relative powers of different...

Stijn Claessens | Kenichi Ueda

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