Stamolampros, P orcid.org/0000-0001-8143-7244 and Symitsi, E orcid.org/0000-0001-6371-4156 (2022) Employee Treatment, Financial Leverage, and Bankruptcy Risk: Evidence from High Contact Services. International Journal of Hospitality Management, 105. 103268. ISSN 0278-4319
Abstract
Using employee online reviews as a proxy of employee treatment and well-being for tourism and hospitality firms, we extrapolate the association of employee satisfaction with financial leverage and bankruptcy risk. Consistent with theoretical expectations and empirical evidence, we find that firms ranked high on employee treatment have lower levels of market and book leverage. This relationship is also pronounced for bankruptcy risk where firms with higher employee satisfaction enjoy higher creditworthiness. The results are robust controlling for well-known effects, alternative specifications, and endogeneity concerns.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2022 Elsevier Ltd. This is an author produced version of an article published in International Journal of Hospitality Management. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Electronic WOM; Employee online reviews; Financial leverage; Bankruptcy risk |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Management Division (LUBS) (Leeds) > Management Division Decision Research (LUBS) |
Depositing User: | Symplectic Publications |
Date Deposited: | 13 Jun 2022 09:16 |
Last Modified: | 16 Dec 2023 01:13 |
Status: | Published |
Publisher: | Elsevier |
Identification Number: | 10.1016/j.ijhm.2022.103268 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:187883 |