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Research project

The Relationships Between Employee Health And Stock Market Returns During The COVID-19 Pandemic: Evidence From Uber And Taxi Hospital Rides In Large Cities

Project overview

There exists a substantial body of research on how employee well-being affects firm performance and firm policies. The literature indicates that employee health conditions and health risks pose a significant burden on employers, as they correlate with absenteeism and reduced on-the-job productivity, i.e. presenteeism.

On the other hand, very little is known about the effects that firm performance exerts on employee well-being. In particular, the question of whether and to what extent the performance of a company’s stock in the equity market affects employee well-being has been almost entirely overlooked.

This question is important because recent research reveals that stock market declines swiftly affect investors’ health along several dimensions, and statistics show that employees’ equity portfolios and retirement plans are over-exposed to the stock of the company for which they work. The goal of this project is to investigate whether and to what extent changes in the price of a company’s stock exert immediate effects on its employees’ health.


Lead researcher

Dr Gabriele Lepori

Lecturer in Finance

Research interests

  • Behavioural finance
  • Financial markets
  • Macroeconomic shocks
Connect with Gabriele
Other researchers

Dr Larisa Yarovaya

Associate Professor of Finance

Research interests

  • Cryptocurrencies 
  • Financial Contagion
  • Fintech
Connect with Larisa

Collaborating research institutes, centres and groups

Research outputs