Family firms, employee satisfaction, and corporate performance

Huang, Minjie; Li, Pingshu; Meschke, Felix; Guthrie, Joanne F.

doi:10.1016/j.jcorpfin.2015.08.002

Cited by 171 publications

(143 citation statements)

References 29 publications

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“…First, in line with previous research in this strand that make use of online reviews (Chang et al, 2018;Huang et al, 2015;Ji et al, 2017;;Symitsi, Stamolampros, Daskalakis, & Korfiatis, 2018), I find that overall employee satisfaction is positively associated with firm performance after controlling for firm characteristics, industry, and time fixed-effects in System-GMM regressions. Among the four alternative performance indicators used for robustness purposes, the results are particularly consistent for return on equity (ROE) and growth in the ranking position in the prior two years (Growth).…”

Section: Introductionsupporting

confidence: 83%

“…In the past few years, though, the emergence of career community websites that provide crowd-sourced reviews of companies by thousands of employees has allowed more accurate assessments of workers' satisfaction. As a result, a literature aiming to assess the value relevance of human capital based on these sources of information has flourished in the past few years (Chang, Oh, & Park, 2018;Grennan, 2013;Huang, Meschke, & Guthrie, 2015;Ji, Rozenbaum, &Welch, 2017;Symitsi, Stamolampros, Daskalakis, & Korfiatis, 2018). This paper fits into this emerging literature.…”

Section: Introductionmentioning

confidence: 88%

“…It is important to highlight that my choice of firm characteristics used as control variables was based on the previous literature most closely related to our paper (Chang et al, 2018;Huang et al, 2015;Ji et al, 2017;Symitsi, Stamolampros, Daskalakis, & Korfiatis, 2018) and on a rationale linking them to both variables of interest. Larger firms, for example, are likely to have more resources to spend on employee benefits and workplace amenities, which may influence employee satisfaction.…”

Section: Control Variablesmentioning

confidence: 99%

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The Employee Is Always Right: Employee Satisfaction and Corporate Performance in Brazil

Silveira

2019

Rev. adm. contemp.

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I investigate the effect of employee satisfaction on corporate performance based on an extensive dataset of 114,004 online reviews of Brazil’s 1,000 largest listed and unlisted firms from 2013 to 2018 posted at a local subsidiary of Glassdoor. I find that overall employee satisfaction is positively associated with firm performance and that this relationship is likely to be economically relevant. Among the four dimensions of employee well-being, the link with performance is most evident for the dimension on culture, followed by career opportunities. On the other hand, the dimension on compensation and benefits was the least connected with firm performance. Taken together, these results support the view that intrinsic motivators are more relevant for superior performance than extrinsic ones popularized by the carrot and stick approach to management. I also find that the influence of employee satisfaction on performance is likely to be asymmetrical, in the sense that workplaces characterized by low satisfaction among workers are more likely to lead to poor performance than best-in-class companies are likely to produce superior performance. To my knowledge, this is the first paper to document an asymmetrical link between firm value and employee satisfaction, as well the first one to investigate this issue in an emerging economy using online reviews.

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Section: Introductionsupporting

confidence: 83%

Section: Introductionmentioning

confidence: 88%

Section: Control Variablesmentioning

confidence: 99%

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The Employee Is Always Right: Employee Satisfaction and Corporate Performance in Brazil

Silveira

2019

Rev. adm. contemp.

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“…In most situations taking a decision includes a choice between two or more alternatives. Using satisfiability as a principal approach to planning has many advantages (Huang et al 2015). During the decision making process managers use the information related to actual results to reassess and amend their original budgets, measurers or plans.…”

Section: Use Of Accounting Information For Planning In the Family Busmentioning

confidence: 99%

Funding alternatives and business planning in family businesses

Sági¹,

Juhász²

2019

Prosperitas

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Family businesses form the backbone of the SME sector in every country. Those founding a new business entity usually need support from their family members, let it be their knowledge, money, assets, time, or simply understanding and personal care. Thus, it is vital to enhance not only the survival, but also the success rate of these firms. This paper reviews issues that entrepreneurs will face as a top-manager in a family business context. We assess alternatives to common financial accounting and performance measurement practices and compare adequate financing sources and strategies for family businesses to practices used by other types of firms.The paper discusses the different forms of funds that are available to the owners of these enterprises. We will start with a brief characterization of the ownership structure of family businesses. Then review the literature on funding resources to family businesses. These different resources are discussed from a family relevant practical point of view. Finally, some conclusions are presented.

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“…La literatura hace referencia a la conexión existente entre el gobierno corporativo y el desempeño organizacional, especialmente, con los resultados financieros medidos por el indicador ROA (Ahmed & Hamdan, 2014;Cioban, 2016;Huang, Li, Meschke & Guthrie, 2015;Macías & Román, 2014;Moscu, 2015;Mu-ravyev, 2016;Müller, 2014;Rahim, Mahat, Nassir & Yahya, 2015;Reem, Allam & Wajeeh, 2015;Rose, 2016); algunos análisis de desempeño organizacional evidencian que un mejor ejercicio directivo, medido por los grados de cumplimiento de lo expuesto en la teoría de gobierno corporativo, presentan mejores resultados financieros.…”

Section: Gobierno Corporativo Y Códigos De Buen Gobiernounclassified

Generación De Rendimientos Financieros Positivos, Dada La Divulgación De Los Contenidos De Los Códigos De Buen Gobierno en Las Organizaciones Cotizadas en Colombia

Beltrán¹,

Romero²,

Melo³

2018

Universidad&Empresa

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I. C. (2018). Generación de rendimientos financieros positivos, dada la divulgación de los contenidos de los códigos de buen gobierno en las organizaciones cotizadas en Colombia. Universidad & Empresa, 20(35), 169-196. Doi: http://dx.doi. org/10.12804/revistas.urosario.edu.co/empresa/a.5846 RESUMENEste trabajo explica la relación entre el desempeño financiero de las empresas y la divulgación de los códigos de buen gobierno. Una regresión logística se realiza mediante el método de estimación de máxima verosimilitud. Los resultados muestran que la probabilidad de generar un ROA positivo es mayor cuando se divulgan de manera significativa los contenidos de los códigos de buen gobierno. Las investigaciones futuras pueden arrojar luz sobre el impacto del comportamiento directivo en los beneficios económicos y sociales. Palabras clave: Gobierno corporativo, códigos de buen gobierno, desempeño financiero. ABSTRACTThis work explains the causal relationship between companies' financial performance and codes of good governance. A logistic regression is estimated through the maximum likelihood estimation method. The results show that the probability of generating a positive roa is higher as the contents of the code of good governance are published. Future research may shed light on the impact of managerial behavior on economic and social benefits.Este trabalho explica a relação entre o desempenho financeiro das empresas e a divulgação dos códigos de bom governo. Uma regressão logística estima-se mediante o método de estimação de máxima verosimilitude. Os resultados mostram que a probabilidade de gerar um ROA positivo é maior quando se divulgam de maneira significativa os conteúdos dos códigos de bom governo. As pesquisas futuras podem lançar alguma luz sobre o impacto do comportamento diretivo nos benefícios económicos e sociais. Palavras-chave: Governo corporativo, códigos de bom governo, desempenho financeiro.

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Family firms, employee satisfaction, and corporate performance

Cited by 171 publications

References 29 publications

The Employee Is Always Right: Employee Satisfaction and Corporate Performance in Brazil

The Employee Is Always Right: Employee Satisfaction and Corporate Performance in Brazil

Funding alternatives and business planning in family businesses

Generación De Rendimientos Financieros Positivos, Dada La Divulgación De Los Contenidos De Los Códigos De Buen Gobierno en Las Organizaciones Cotizadas en Colombia

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