Yuye Ding and Mark Ma’s study of S&P 500 companies found no significant improvement in profitability or market valuation after return-to-office announcements. Employee ratings, meanwhile, moved clearly downwards. They combined the policy dates with employee reviews from Glassdoor, financial data from Compustat and market information from Thomson Reuters. Put plainly, mandate firms did not show a detectable improvement in profitability or firm value relative to non-mandate companies. Employee ratings did change significantlyThe contrast was clearest in Glassdoor reviews.