Employee satisfaction and long-run shareholder returns

    Authors

    C. H. Tang;J. E. Lee

    Comments

    Authors: contact us about adding a copy of your work at [email protected]

    Abbreviated Journal Title

    Serv. Ind. J.

    Keywords

    employee satisfaction; shareholder returns; long-run; process type; ABNORMAL STOCK RETURNS; SERVICE-PROFIT CHAIN; CUSTOMER SATISFACTION; PERFORMANCE; PROFITABILITY; INDUSTRIES; QUALITY; CONSEQUENCES; INTANGIBLES; STRATEGIES; Management

    Abstract

    This study empirically tests whether there are differences in the employee satisfaction premium among people-and possession-processing service firms, information-processing service firms, and goods-producing firms. The employee satisfaction premium is measured using the long-run abnormal returns of firms with high employee satisfaction ratings, adjusted for industry and size effects. Results show that the employee satisfaction premium is higher for information-processing services than for people-and possession-processing services. There is no significant difference between people-and possession-processing service firms and goods-producing firms. This finding suggests that employee satisfaction may create higher value for shareholders when it is realised through information-processing services rather than people-and possession-processing services.

    Journal Title

    Service Industries Journal

    Volume

    34

    Issue/Number

    14

    Publication Date

    1-1-2014

    Document Type

    Article

    Language

    English

    First Page

    1167

    Last Page

    1183

    WOS Identifier

    WOS:000340370400004

    ISSN

    0264-2069

    Share

    COinS
     

    Accessibility Statement

    This item was created or digitized prior to April 24, 2027, or is a reproduction of legacy media created before that date. It is preserved in its original, unmodified state specifically for research, reference, or historical recordkeeping. In accordance with the ADA Title II Final Rule, the University Libraries provides accessible versions of archival materials upon request. To request an accommodation for this item, please submit an accessibility request form.