Stock liquidity and corporate labor investment: evidence from Thailand market

This study examines the relationship between stock liquidity and the efficiency of labor investment in Thailand's stock market, utilizing a comprehensive dataset from 2001 to 2022 and covering the SET. The findings suggest that enhanced stock liquidity is linked to improved efficiency of labor investment, particularly in firms experiencing under-investment in labor, especially under-hiring. Moreover, the study highlights that firms with low stock liquidity observations show noticeable improvements in the efficiency of labor investment.