“Just Capital’s researchers found that the top 20% of firms enjoyed a 6.5% higher average annual return versus their industry peers. Companies whose miserly pay packets landed them in the bottom quintile were found to earn 3% less than their industry peers.”

[COMMENTARY] The data looks convincing. Questions I have and not sure they’re answered are: 1) Were the firms paying the higher wages in an oligopoly/monopoly type situation where barriers to entry to their markets were almost impossibly high, and 2) Which comes first? Do high profits allow for higher wages or higher wages create greater productivity and profits?
Companies that pay fair wages weather downturn better, by Rick Spence, November 18, 2020, Corporate Knights, Canada.