This paper examines how employee satisfaction affects firm value around the financial crisis. We use the 2008 financial crisis as exogenous shocks to firms to mitigate endogenous concern that employee satisfaction and firm value can be jointly determined. We employ the difference-in-difference...

This study uses a sample of Canadian natural resource firms during the global financial crisis (GFC) of 2007-2008 to examine the influence of firm hedging strategies on their working capital management. Our evidence implies that increased cash holdings and derivatives are alternative ways of...