Quality of working environment and corporate financial distress

Tho Pham, Oleksandr Talavera (), Geoffrey Wood and Shuxing Yin

Finance Research Letters, 2022, vol. 46, issue PB

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.

Keywords: Quality of working environment; Quality of life; Risk taking; Financial distress (search for similar items in EconPapers)
JEL-codes: G30 G32 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:46:y:2022:i:pb:s1544612321004360

DOI: 10.1016/j.frl.2021.102449

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