Human capital advantage and efficiency wage theory: For what firms might this intangible value not be priced-in?

November 27, 2018

Sign In to Research

Research briefs are only available to current customers. If you would like to learn more about our Platform and Data products and how we generate unique investment ideas, contact us.

For years Costco has been heralded as a great place to work. Employee satisfaction isn’t just a Costco phenomenon, and Wharton School research shows that it can lead to alpha.

In this brief, we’ll look at a potential “Costco cohort”:

  • Firms that outperform in ESG categories related to human capital
  • Where intangible value may not yet be priced in
Apparel Accessories and Footwear
Multiline and Specialty Retailers

Material Categories
Compensation and Benefits
Employee Health and Wellbeing
Recruitment, Development, and Retention