Labor investment efficiency and credit ratings

被引：8
|
作者：
Habib, Ahsan [1 ]
Ranasinghe, Dinithi [2 ]
机构：
[1] Massey Univ, Sch Accountancy, Auckland, New Zealand
[2] Univ Otago, Sch Business, Dept Accountancy & Finance, Dunedin, New Zealand
来源：
FINANCE RESEARCH LETTERS | 2022年 / 48卷
关键词：
Labor investment efficiency; Credit ratings; Financial distress; Corporate governance; CORPORATE GOVERNANCE; IMPACT;
D O I：
10.1016/j.frl.2022.102924
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We examine the relationship between labor investment efficiency and credit ratings. Using a sample of U.S. firm spanning the period 1987 to 2016, we document that inefficient labor investment decreases firm credit ratings. Our results remain robust to possible endogeneity concerns. We also document that financial distress, earnings volatility, and firm life cycle moderate the relationship between inefficient labor investments and credit ratings.
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收藏
页数：8
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