Mother Jones

Do better places to work imply better places to invest?

Research output: Contribution to journalArticle

5 Citations (Scopus)

Abstract

In this paper, we examine the returns to a portfolio of 12 publicly held firms that were featured in the July/August 1997 edition of Mother Jones as the "20 Better Places to Work" (the remaining eight are privately held). This survey was based on the firm's track record for charitable giving, fair labor practices, progressive benefits, sound environmental practices, and satisfied employees. While there is much evidence that the above qualities are very desirable for employees, little evidence exists indicating whether such a record results in increased shareholder wealth. In this study, we compare the annual returns, on a raw and risk-adjusted basis, for the selected firms to a broad market index, as well as a more appropriate benchmark (based on market capitalization and industry classification). We also determine whether there is an announcement effect associated with the public release of the list of Mother Jones firms.

Original languageEnglish (US)
Pages (from-to)57-70
Number of pages14
JournalReview of Financial Economics
Volume10
Issue number1
DOIs
StatePublished - Mar 1 2001

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Employees
Benchmark
Industry classification
Announcement effect
Market index
Environmental practices
Market capitalization
Shareholder wealth
Charitable giving
Labour practice

All Science Journal Classification (ASJC) codes

  • Finance
  • Economics and Econometrics

Cite this

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Mother Jones : Do better places to work imply better places to invest? / Filbeck, Michael.

In: Review of Financial Economics, Vol. 10, No. 1, 01.03.2001, p. 57-70.

Research output: Contribution to journalArticle

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