I'll skip right to the findings, and I quote: "Results suggest employee humor is associated with enhanced work performance, workgroup cohesion, health, and coping effectiveness, as well as decreased burnout, stress, and work withdrawal. Supervisor use of humor is associated with enhanced subordinate performance, satisfaction, perception of supervisor performance, satisfaction with supervisor, and workgroup cohesion, as well as reduced work withdrawal.
Citation: Journal of Managerial Psychology, Vol 27., No. 2, 2012, pp 155-190.
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