We examine how firms respond to the increased workplace transparency due to the
coverage on Glassdoor. com, which collects and disseminates reviews on employee …

We find that firms experiencing improvements in crowdsourced employer ratings
significantly outperform firms with declines. The return effect is concentrated among reviews …

We construct a measure of the pairwise relatedness of firms' human capital to examine
whether human capital relatedness is a key factor in mergers and acquisitions. We find that …

Labor restructuring is a key driver of takeovers and the associated synergy gains worldwide.
In a difference-in-differences research design, we show that major increases in employment …

The economics literature has made important strides towards explaining the dynamics of
labor markets. While that literature focuses on studying labor markets at the individual …

We present evidence that the desire to gain human capital is an important motive for
corporate acquisitions. Our tests exploit the staggered recognition of the Inevitable …

Employment protection increases labor adjustment costs and hence the expected costs of
financial distress for labor-intensive firms. It follows that these firms are likely to increase …

This paper studies how the human capital embedded in rank-and-file employees affects
firms' stock price crash risk. Employing a unique setting in China where we measure human …

This paper examines how the target's customer concentration affects merger performance.
We find that the acquirer purchasing a customer-concentrated firm experiences significantly …

This study examines whether and how a strong corporate culture influences stakeholder
violations. Using a longitudinal sample of monetary penalties imposed on US-listed firms for …