메뉴 건너뛰기




Volumn 101, Issue 1, 2011, Pages 1-27

Labor-Friendly Corporate Practices: Is What is Good for Employees Good for Shareholders?

Author keywords

agency theory; corporate social responsibility; employee stakeholders; stakeholder theory

Indexed keywords


EID: 79959603491     PISSN: 01674544     EISSN: 15730697     Source Type: Journal    
DOI: 10.1007/s10551-010-0705-9     Document Type: Article
Times cited : (180)

References (54)
  • 4
    • 0000482025 scopus 로고
    • Productivity and Labor Unions: An Application of the Theory of Self-Enforcing Contracts
    • Baldwin, C. Y.: 1983, 'Productivity and Labor Unions: An Application of the Theory of Self-Enforcing Contracts'. Journal of Business 56, 155-185.
    • (1983) Journal of Business , vol.56 , pp. 155-185
    • Baldwin, C.Y.1
  • 5
    • 0031097135 scopus 로고    scopus 로고
    • Detecting Long-Run Abnormal Stock Returns: The Empirical Power and Specification of Test Statistics
    • Barber, B. M., and J. D. Lyon: 1997, 'Detecting Long-Run Abnormal Stock Returns: The Empirical Power and Specification of Test Statistics', Journal of Financial Economics 43, 341-372.
    • (1997) Journal of Financial Economics , vol.43 , pp. 341-372
    • Barber, B.M.1    Lyon, J.D.2
  • 6
    • 0036018695 scopus 로고    scopus 로고
    • Managing Customer Services: Human Resource Practices, Quit Rates, and Sales Growth
    • Batt, R.: 2002, 'Managing Customer Services: Human Resource Practices, Quit Rates, and Sales Growth', Academy of Management Journal 45, 587-597.
    • (2002) Academy of Management Journal , vol.45 , pp. 587-597
    • Batt, R.1
  • 7
    • 0039005085 scopus 로고
    • The Cash Flow and Informational Effects of Employee Stock Ownership Plans
    • Beatty, A (1995), 'The Cash Flow and Informational Effects of Employee Stock Ownership Plans', Journal of Financial Economics 38, 211-240.
    • (1995) Journal of Financial Economics , vol.38 , pp. 211-240
    • Beatty, A.1
  • 9
    • 0040898637 scopus 로고    scopus 로고
    • Managerial Entrenchment and Capital Structure Decisions
    • Berger, P. G., E. Ofek, and D. L. Yermack: 1997, 'Managerial Entrenchment and Capital Structure Decisions', Journal of Finance 52, 1411-1438.
    • (1997) Journal of Finance , vol.52 , pp. 1411-1438
    • Berger, P.G.1    Ofek, E.2    Yermack, D.L.3
  • 10
    • 34948847083 scopus 로고    scopus 로고
    • Corporate Ethical Identity as a Determinant of Firm Performance: A Test of the Mediating Role of Stakeholder Satisfaction
    • Berrone, P., J. Surroca, and J. A. Tribo: 2007, 'Corporate Ethical Identity as a Determinant of Firm Performance: A Test of the Mediating Role of Stakeholder Satisfaction', Journal of Business Ethics 76, 35-53.
    • (2007) Journal of Business Ethics , vol.76 , pp. 35-53
    • Berrone, P.1    Surroca, J.2    Tribo, J.A.3
  • 11
    • 35448972139 scopus 로고    scopus 로고
    • What Corporate Social Responsibility Activities are Valued by the Market?
    • Bird, R., A. D. Hall, F. Momente, and F. Reggiani: 2007, 'What Corporate Social Responsibility Activities are Valued by the Market?' Journal of Business Ethics 76, 189-206.
    • (2007) Journal of Business Ethics , vol.76 , pp. 189-206
    • Bird, R.1    Hall, A.D.2    Momente, F.3    Reggiani, F.4
  • 13
    • 34250003306 scopus 로고    scopus 로고
    • Employee Perceptions of Stakeholder Focus and Commitment to the Organization
    • Bridges, S., and K. J. Harrison: 2003, 'Employee Perceptions of Stakeholder Focus and Commitment to the Organization', Journal of Management Issues 15, 498-509.
    • (2003) Journal of Management Issues , vol.15 , pp. 498-509
    • Bridges, S.1    Harrison, K.J.2
  • 15
    • 4344587739 scopus 로고    scopus 로고
    • The Price Response to S&P 500 Index Additions and Deletions: Evidence of Asymmetry and a New Explanation
    • Chen, H., G. Noronha, and V. Singal: 2004, 'The Price Response to S& P 500 Index Additions and Deletions: Evidence of Asymmetry and a New Explanation', Journal of Finance 59, 1901-1929.
    • (2004) Journal of Finance , vol.59 , pp. 1901-1929
    • Chen, H.1    Noronha, G.2    Singal, V.3
  • 16
    • 36849044680 scopus 로고    scopus 로고
    • Board Size and the Variability of Corporate Performance
    • Cheng, S.: 2008, 'Board size and the variability of corporate performance', Journal of Financial Economics 87, 157-176.
    • (2008) Journal of Financial Economics , vol.87 , pp. 157-176
    • Cheng, S.1
  • 17
    • 0001650996 scopus 로고    scopus 로고
    • Corporate Governance, Chief Executive Officer Compensation, and Firm Performance
    • Core, J. E., R. W. Holthausen, and D. F. Larcker: 1999, 'Corporate Governance, Chief Executive Officer Compensation, and Firm Performance', Journal of Financial Economics 51, 371-406.
    • (1999) Journal of Financial Economics , vol.51 , pp. 371-406
    • Core, J.E.1    Holthausen, R.W.2    Larcker, D.F.3
  • 18
    • 21844463321 scopus 로고
    • The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications
    • Donaldson, T. and L. E. Preston (1995), 'The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications', Academy of Management Review 20(1), 65-91.
    • (1995) Academy of Management Review , vol.20 , Issue.1 , pp. 65-91
    • Donaldson, T.1    Preston, L.E.2
  • 19
    • 0034245496 scopus 로고    scopus 로고
    • Do Corporate Global Environmental Standards Create or Destroy Market Value?
    • Dowell, G., S. Hart, and B. Yeung: 2000, 'Do Corporate Global Environmental Standards Create or Destroy Market Value?' Management Science 46, 1059-1074.
    • (2000) Management Science , vol.46 , pp. 1059-1074
    • Dowell, G.1    Hart, S.2    Yeung, B.3
  • 21
    • 0001336426 scopus 로고
    • Agency Theory: An Assessment and Review
    • Eisenhardt, K. M.: 1989, 'Agency Theory: An Assessment and Review', Academy of Management Review 14(1), 57-74.
    • (1989) Academy of Management Review , vol.14 , Issue.1 , pp. 57-74
    • Eisenhardt, K.M.1
  • 22
    • 33846508475 scopus 로고    scopus 로고
    • Classified Boards, Firm Value, and Managerial Entrenchment
    • Faleye, O.: 2007, 'Classified Boards, Firm Value, and Managerial Entrenchment', Journal of Financial Economics 83, 501-529.
    • (2007) Journal of Financial Economics , vol.83 , pp. 501-529
    • Faleye, O.1
  • 25
    • 0347516279 scopus 로고    scopus 로고
    • Fortune's Best 100 Companies to Work for in America: Do They Work for Shareholders?
    • Filbeck, G. and D. Preece: 2003, 'Fortune's Best 100 Companies to Work for in America: Do they Work for Shareholders?', Journal of Business Finance & Accounting 30, 771-797.
    • (2003) Journal of Business Finance and Accounting , vol.30 , pp. 771-797
    • Filbeck, G.1    Preece, D.2
  • 27
    • 0003772810 scopus 로고
    • Chicago, IL: University of Chicago Press
    • Friedman, M.: 1962, Capitalism and Freedom, (University of Chicago Press, Chicago, IL).
    • (1962) Capitalism and Freedom
    • Friedman, M.1
  • 28
    • 0001788578 scopus 로고
    • The Social Responsibility of Business is to Increase Its Profits
    • Friedman, M.: 1970, 'The Social Responsibility of Business is to Increase its Profits', New York Times Magazine 13, 32-33.
    • (1970) New York Times Magazine , vol.13 , pp. 32-33
    • Friedman, M.1
  • 30
    • 0037484265 scopus 로고    scopus 로고
    • The Impact of Human Resource Management and Work Climate on Organizational Performance
    • Gelade, G. A. and M. Ivery: 2003, 'The Impact of Human Resource Management and Work Climate on Organizational Performance', Personnel Psychology 56, 383-404.
    • (2003) Personnel Psychology , vol.56 , pp. 383-404
    • Gelade, G.A.1    Ivery, M.2
  • 31
    • 84985234208 scopus 로고
    • Individual and Group Determinants of Employee Absenteeism: Test of a Causal Model
    • Gellatly, I. R. (1995), 'Individual and Group Determinants of Employee Absenteeism: Test of a Causal Model', Journal of Organizational Behavior 16, 469-485.
    • (1995) Journal of Organizational Behavior , vol.16 , pp. 469-485
    • Gellatly, I.R.1
  • 32
    • 0000171195 scopus 로고    scopus 로고
    • The Corporate Social Performance and Corporate Financial Performance Debate: Twenty-Five Years of Incomparable Research
    • Griffin, J. J, and J. F. Mahon: 1997, 'The Corporate Social Performance and Corporate Financial Performance Debate: Twenty-five Years of Incomparable Research', Business and Society 36, 5-31.
    • (1997) Business and Society , vol.36 , pp. 5-31
    • Griffin, J.J.1    Mahon, J.F.2
  • 33
    • 0002763076 scopus 로고    scopus 로고
    • On the Economics and Politics of Corporate Finance and Corporate Control
    • in X. Vives (Ed.), Cambridge, UK: Cambridge University Press
    • Hellwig, M.: 2000, On the Economics and Politics of Corporate Finance and Corporate Control, in X. Vives, (ed.), Corporate Governance: Theoretical and Empirical Perspectives, (Cambridge University Press, Cambridge, UK).
    • (2000) Corporate Governance: Theoretical and Empirical Perspectives
    • Hellwig, M.1
  • 35
    • 0038957559 scopus 로고
    • Dirty Hands Versus Clean Models: Is Sociology in Danger of Being Seduced by Economics?
    • Hirsch, P., S. Michaels, R. Friedman (1987) Dirty Hands Versus Clean Models: Is Sociology in Danger of Being Seduced by Economics? Theory and Society 16: 317-336.
    • (1987) Theory and Society , vol.16 , pp. 317-336
    • Hirsch, P.1    Michaels, S.2    Friedman, R.3
  • 36
    • 77958561778 scopus 로고    scopus 로고
    • Incentives, Targeting, and Firm Performance: An Analysis of Non-Executive Stock Options
    • Hochberg, Y. B. and L. A. Lindsey: 2010, 'Incentives, Targeting, and Firm Performance: An Analysis of Non-Executive Stock Options', Review of Financial Studies 23, 4148-4186.
    • (2010) Review of Financial Studies , vol.23 , pp. 4148-4186
    • Hochberg, Y.B.1    Lindsey, L.A.2
  • 37
    • 84989102127 scopus 로고
    • Strategic Planning As If Ethics Mattered
    • Hosmer, L. T.: 1994, 'Strategic Planning as if Ethics Mattered', Strategic Management Journal 15, 17-34.
    • (1994) Strategic Management Journal , vol.15 , pp. 17-34
    • Hosmer, L.T.1
  • 38
    • 84986271027 scopus 로고    scopus 로고
    • Value Maximization, Stakeholder Theory, and the Corporate Objective Function
    • Jensen, M. C.: 2001, 'Value Maximization, Stakeholder Theory, and the Corporate Objective Function',. European Financial Management 7 (3), 297-317.
    • (2001) European Financial Management , vol.7 , Issue.3 , pp. 297-317
    • Jensen, M.C.1
  • 39
    • 0036328813 scopus 로고    scopus 로고
    • Value Maximization, Stakeholder Theory, and the Corporate Objective Function
    • Jensen, M. C.: 2002, 'Value Maximization, Stakeholder Theory, and the Corporate Objective Function',. Business Ethics Quarterly 12 (2), 235-256.
    • (2002) Business Ethics Quarterly , vol.12 , Issue.2 , pp. 235-256
    • Jensen, M.C.1
  • 40
    • 21844519987 scopus 로고
    • Instrumental Stakeholder Theory: A Synthesis of Ethics and Economics
    • Jones T. M. (1995) Instrumental Stakeholder Theory: A Synthesis of Ethics and Economics. Academy of Management Review 20: 404-437.
    • (1995) Academy of Management Review , vol.20 , pp. 404-437
    • Jones, T.M.1
  • 42
    • 0001200270 scopus 로고
    • Corporate Social Responsibility and Firm Financial Performance
    • McGuire, J. B., A. Sundgren, and T. Schneeweis: 1988, 'Corporate Social Responsibility and Firm Financial Performance', Academy of Management Journal 31 (4), 854-872.
    • (1988) Academy of Management Journal , vol.31 , Issue.4 , pp. 854-872
    • McGuire, J.B.1    Sundgren, A.2    Schneeweis, T.3
  • 43
    • 0035605743 scopus 로고    scopus 로고
    • Corporate Social and Financial Performance: An Investigation in the U. K. Supermarket Industry
    • Moore, G.: 2001, 'Corporate Social and Financial Performance: An Investigation in the U. K. Supermarket Industry', Journal of Business Ethics 34, 299-315.
    • (2001) Journal of Business Ethics , vol.34 , pp. 299-315
    • Moore, G.1
  • 44
    • 33645896609 scopus 로고
    • Managerial Ownership and Market Valuation: An Empirical Analysis
    • Morck, R., A. Shleifer, and R. Vishny: 1988, 'Managerial Ownership and Market Valuation: An Empirical Analysis', Journal of Financial Economics 20, 293-315.
    • (1988) Journal of Financial Economics , vol.20 , pp. 293-315
    • Morck, R.1    Shleifer, A.2    Vishny, R.3
  • 45
    • 16244387672 scopus 로고    scopus 로고
    • Managers, Workers, and Corporate Control
    • Pagano, M., and P. Volpin: 2005, 'Managers, Workers, and Corporate Control', Journal of Finance 60, 843-870.
    • (2005) Journal of Finance , vol.60 , pp. 843-870
    • Pagano, M.1    Volpin, P.2
  • 47
    • 33644505198 scopus 로고    scopus 로고
    • Stakeholder Theory and Managerial Decision-Making: Constraints and Implications of Balancing Stakeholder Interests
    • Reynolds, S. J., F. C. Schultz, and D. R. Hekman: 2006, 'Stakeholder Theory and Managerial Decision-Making: Constraints and Implications of Balancing Stakeholder Interests', Journal of Business Ethics 64, 285-301.
    • (2006) Journal of Business Ethics , vol.64 , pp. 285-301
    • Reynolds, S.J.1    Schultz, F.C.2    Hekman, D.R.3
  • 48
    • 0035845117 scopus 로고    scopus 로고
    • An Empirical Investigation of the Relationship Between Change in Corporate Social Performance and Financial Performance: A Stakeholder Theory Perspective
    • Ruf, B. M., K. Muralidhar, R. M Brown, J. J. Janney, and K. Paul: 2001, 'An Empirical Investigation of the Relationship Between Change in Corporate Social Performance and Financial Performance: A Stakeholder Theory Perspective', Journal of Business Ethics 32, 143-156.
    • (2001) Journal of Business Ethics , vol.32 , pp. 143-156
    • Ruf, B.M.1    Muralidhar, K.2    Brown, R.M.3    Janney, J.J.4    Paul, K.5
  • 49
    • 2842552569 scopus 로고    scopus 로고
    • A Note on Ethics and Strategy: Do Good Ethics Always Make for Good Business?
    • Schwab, B.: 1996, 'A Note on Ethics and Strategy: Do Good Ethics Always Make for Good Business?'Strategic Management Journal 17, 499-500.
    • (1996) Strategic Management Journal , vol.17 , pp. 499-500
    • Schwab, B.1
  • 51
    • 84985204924 scopus 로고
    • Organizational Commitment, Turnover and Absenteeism: An Examination of Direct and Interaction Effects
    • Somers, M. J. (1995) 'Organizational Commitment, Turnover and Absenteeism: An Examination of Direct and Interaction Effects', Journal of Organizational Behavior 16, 49-58.
    • (1995) Journal of Organizational Behavior , vol.16 , pp. 49-58
    • Somers, M.J.1
  • 52
    • 0009333581 scopus 로고    scopus 로고
    • Socially Responsible Mutual Funds
    • Statman, M.: 2000, 'Socially Responsible Mutual Funds', Financial Analyst Journal 56, 30-39.
    • (2000) Financial Analyst Journal , vol.56 , pp. 30-39
    • Statman, M.1
  • 53
    • 0001119317 scopus 로고    scopus 로고
    • Do "High Commitment" Human Resource Practices Affect Employee Commitment? A Cross-level Analysis Using Hierarchical Linear Modeling
    • Whitener, E. M: 2001' 'Do "high commitment" Human Resource Practices Affect Employee Commitment? A Cross-level Analysis Using Hierarchical Linear Modeling', Journal of Management 27, 515-535.
    • (2001) Journal of Management , vol.27 , pp. 515-535
    • Whitener, E.M.1
  • 54
    • 0030078208 scopus 로고    scopus 로고
    • Higher Market Valuation of Companies with a Small Board of Directors
    • Yermack, D.: 1996, 'Higher Market Valuation of Companies with a Small Board of Directors', Journal of Financial Economics 40, 185-213.
    • (1996) Journal of Financial Economics , vol.40 , pp. 185-213
    • Yermack, D.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.