Employees’ reviews and stock price informativeness

Kyiu, Anthony; Tawiah, Bernard; Boamah, Evans Ofosu

Abstract

We investigate the relationship between employee reviews and stock price informativeness. Using a sample of US firms, we find that firms with higher employee satisfaction are associated with greater stock price informativeness in terms of idiosyncratic volatility. We find this result to be more pronounced for firms that have a greater reliance on human capital assets. Overall, our study suggests that employee reviews have implications for financial markets.

Citation

Kyiu, A., Tawiah, B., & Boamah, E. O. (2023). Employees’ reviews and stock price informativeness. Economics Letters, 233, Article 111406. https://doi.org/10.1016/j.econlet.2023.111406

• Journal Article Type: Article
• Acceptance Date: Oct 10, 2023
• Online Publication Date: Oct 11, 2023
• Publication Date: 2023-12
• Deposit Date: Oct 12, 2023
• Publicly Available Date: Oct 13, 2023
• Journal: Economics Letters
• Print ISSN: 0165-1765
• Electronic ISSN: 1873-7374
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 233
• Article Number: 111406
• DOI: https://doi.org/10.1016/j.econlet.2023.111406
• Public URL: https://durham-repository.worktribe.com/output/1791023