Though positive effects of WLB policies on productivity have been suggested in many cross sectional studies, whether it was because WLB affected productivity positively, or whether it was because highly productive firms could afford to adopt WLB policies remains unknown. Therefore, in order to clarify this question, panel analysis using 338 individual firm data for a total of 5 years was conducted. Results indicated that, in these 338 firms, WLB policies or a combination with gender equality policies affected productivity positively, not the other way around.
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