Sexual Orientation and Neighborhood Quality: Do Same-Sex Couples Make Better Communities?

Fu, Shihe

doi:10.2139/ssrn.951727

Cited by 6 publications

(2 citation statements)

References 31 publications

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“…First, corporate sexual equality policies help recruit productive employees. Just like cities more open and tolerant towards different sexual orientations tend to attract more knowledgeable workers who in return boost the local economy (Chen, ; Florida, ; Fu, ), a supportive organization culture helps attract and recruit high‐quality job applicants (Backhaus et al ., ; Catanzaro, Moore, and Marshall, ). Non‐discrimination practices in terms of sexuality can create a more open, diverse, tolerant and supportive environment for employees, and therefore can help recruit talented and productive employees.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Corporate sexual equality and firm performance

Shan

Zheng

2017

Strategic Management Journal

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116

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Research summary:Previous studies have mixed findings on the relation between corporate socially responsible policies and firm performance. This paper focuses on a specific type of corporate social responsibility-corporate sexual equality, measuring how a firm treats its lesbian, gay, bisexual, and transgender (LGBT) employees, consumers, and investors-and examines whether and how it relates to firm performance. Using a longitudinal dataset of public firms in the U.S. during the period of 2002-2006, we demonstrate that firms with a higher degree of corporate sexual equality have higher stock returns and higher market valuation. We also identify one of the mediating channels, the labor market channel, that brings higher productivity to firms that embrace sexual equality. Managerial summary: Corporate sexual equality measures how a company treats its lesbian, gay, bisexual, and transgender (LGBT) employees, consumers, and investors. It is an important dimension of corporate social responsibility policies and diversity management. Using a longitudinal dataset of public firms in the U.S. during the period of 2002-2006, we demonstrate that firms with a higher degree of corporate sexual equality have higher stock returns, higher market valuation, and higher labor productivity. Our findings suggest that discriminatory hiring behaviors based on sexual orientation hurt employers and shareholders financially and that implementing corporate sexual equality policies can enhance firms' financial performance, generating competitive advantages in labor markets and mutual benefits between employers and employees.

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Section: Theoretical Frameworkmentioning

confidence: 99%

Corporate sexual equality and firm performance

Shan

Zheng

2017

Strategic Management Journal

Self Cite

116

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“…Diversity influences innovation and creativity due to the variety of employees’ perspectives (Roberge & Van Dick, 2010). Moreover, Fu (2007) also provides strong evidence that companies exhibiting a higher level of corporate sexual equality reach higher labour productivity, market valuation and stock returns. For example, US companies adopting same-sex domestic partnership benefit policies see a substantial increase in excess returns and operating performance compared to the performance of non-adopters (Li & Nagar, 2012).…”

Section: Literature Reviewmentioning

confidence: 95%

The impacts of LGBT inclusion on business processes: The case of Bulgaria

Zlateva

Иванов

Popshterev

2022

Journal of General Management

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This study surveyed 178 managers and employees of public and private organisations in Bulgaria to evaluate their perceptions towards the effects of LGBT inclusion on the business processes in their organisations, namely, human resource management, operations management and marketing. Non-parametric tests, factor and regression analyses were used to evaluate the role of various demographic and company characteristics on managers’ perceptions. The general attitudes of managers towards the LGBT community are positive. Managers seem to embrace the inclusion of LGBT employees in the workplace, but they are still ignorant of the potential of LGBT consumers and are reluctant to target this niche market.

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Corporate Equality and Equity Prices: Doing Well While Doing Good?

Shan

2009

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. This paper tests how a specific type of social responsibility-corporate equality-affects firm value. Corporate equality is measured by the corporate equality index (CEI). This index quantifies how companies treat their gay, lesbian, bisexual, and transgender employees, consumers, and investors. Using a sample of CEI-rated, publicly traded firms in the U.S., we find that, between 2002 and 2006, firms with a higher degree of corporate equality have higher stock returns and higher market valuation (Q). We provide suggestive, causal evidence that corporate equality enhances firm value through better performance in product markets and labor markets: Firms with a higher degree of corporate equality also tend to have larger sales, higher profit margins, higher employee productivity, and attract more employees. These results are robust to the inclusion of unobserved firm-heterogeneities. Overall, our results support the value-enhancing effects of corporate social responsibility. Terms of use: Documents inJEL Classification: G11; G12; J70; M14

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Sexual Orientation and Neighborhood Quality: Do Same-Sex Couples Make Better Communities?

Cited by 6 publications

References 31 publications

Corporate sexual equality and firm performance

Corporate sexual equality and firm performance

The impacts of LGBT inclusion on business processes: The case of Bulgaria

Corporate Equality and Equity Prices: Doing Well While Doing Good?

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