Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around the World

The authors thank the editor (Lin William Cong), an associate editor, two anonymous referees, Sumit Agarwal, Svetlana Bryzgalova, Seong Byun, Dan Cable, Francesco D’Acunto, Paul Edwards, Clifton Green, Moqi Groen-Xu, Norbert Häring, Ioannis Ioannou, Frank Weikai Li, Hao Liang, Dong Lou, Jong Min Oh, Andrew Oswald, Marco Pagano, Michael Parke, Madan Pillutla, Elena Simintzi, Jan Starmans, Anh Tran, Vikrant Vig, Paolo Volpin, Bin Wang, Jianrong Wang, and Tracy Wang as well as conference/seminar participants at American Finance Association, Asian Bureau of Finance and Economic Research, Beijing Normal University, Birmingham, Chile, China International Conference in Finance, Central South University, the Central University of Finance and Economics, European Financial Management Association, Exeter, Financial Management Association, The Financial Intermediation Research Society, King Fahd University of Petroleum and Minerals, London Business School, London School of Economics and Political Science, Piraeus, Society for Financial Studies Cavalcade, the Surrey-International Finance and Banking Society Conference, Tsinghua, the United Nations Principles for Responsible Investing Academic Network Conference, and York for helpful comments. The authors thank Wei Xin and Iman Taghaddosinejad for excellent research assistance and Marcus Erb of the Great Place to Work For answering questions about the data.