Chambers College of Business and Economics
The COVID-19 Pandemic has had an unprecedented impact on how employees and employers operate. Employees, directly affected by workplace changes, may provide information regarding future efficiencies. As a result, crowdsourced employee satisfaction (ES) reviews mentioning the COVID-19 Pandemic may contain useful information regarding the future profitability of these firms. We utilize crowdsourced COVID-19 Pandemic specific ES obtained from Glassdoor.com to determine the impact on abnormal stock returns for public firms from March-December 2020. We find evidence that higher COVID-19 ES is related to higher abnormal stock returns. While non-COVID ES is found not to be related to abnormal stock returns.
Digital Commons Citation
Becker, Mary J.; Cardazzi, Alexander; and McGurk, Zachary, "Employee Satisfaction and Stock Returns During the COVID-19 Pandemic" (2021). Economics Faculty Working Papers Series. 55.