The effect of labor investment efficiency on investor attention--Evidence from Chinese listed companies

Jingze Li; Yitong Zhou; Wen Xiao

doi:10.54097/hbem.v12i.8342

Authors

Jingze Li
Yitong Zhou
Wen Xiao

DOI:

https://doi.org/10.54097/hbem.v12i.8342

Keywords:

labor investment efficiency investor attention, stock returns, corporate governance.

Abstract

Based on the annual data of A-share listed companies in Shenzhen and Shanghai from 2018 to 2021, this paper empirically explores the impact of labor investment efficiency on investor attention and its mechanism of action, taking into account the nature of the companies. It is found that labor investment efficiency has a significant positive effect on investor attention, and this finding still holds after robustness tests using various methods. Also, based on the moderating role of stock return in the relationship between labor investment efficiency and investor attention, a model was developed and concluded that the higher the stock return, the stronger the role of labor investment efficiency in attracting investor attention. The research in this paper has implications for firms to attract investors' attention.

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