Stakeholder engagement and firms' innovation: Evidence from LGBT‐supportive policies

Abstract

There is a paucity of research on the effects corporate policies have on fostering innovative activities in firms, while research and development (R&D) investments offer a source of innovations in firms. Using governance data from Kinder, Lyndenberg, and Domini, Research and Analytics, Inc., R&D and financial data from Compustat, and market data from CRSP during the period from 1996 through 2011 this paper investigates whether Lesbian, Gay, Bisexual and Transgender (LGBT)-supportive corporate policies promote innovative activities in US firms. To the extent that LGBT-friendly policies allow inclusive working environments and therefore attract and retain talents, corporate can engage more in innovative activities.The findings show that firms with LGBT-supportive policies nurture employees' commitment to the firms and engage more in innovative activities. Heckman selection model, propensity score matching and difference-in-difference results all confirm the main findings from instrumental variable (IV) analyses.

Organizational factors determining LGBT disclosure: an analysis of the Brazilian context

“…They can think beyond traditional financial reporting and prepare integrated or environmental reports. The confirmation of hypothesis 2 that companies with more financial resources tend to have more LGBT disclosure is in agreement with previous research (Chintrakarn et al, 2018;Gul et al, 2011;Hossain et al, 2020;Kyaw et al, 2021;Shan et al, 2017). The research by Hossain et al (2020), for example, shows that companies that have higher financial performance tend to have more stakeholders, which increases social pressure on their performance.…”

“…The growing literature on CSR has mixed results on the relationship between CSR and company performance (Carter et al, 2010;Ehtasham et al, 2021;Hossain et al, 2020;Kyaw et al, 2021;Prado-Lorenzo et al, 2009;Shan et al, 2017). CSR can accelerate the development of intangibles related to innovation, human capital, reputation, and culture, smooth public relations and reduce potential conflicts between the company and the community, improving company performance and generating net savings of costs, avoiding litigation and reducing risks (Shan et al, 2017).…”

Stakeholder engagement, military ties, and firm performance

“…The first stream of research has focused on the examination of stakeholder power and addressing stakeholder relationship. The power and pressure of the stakeholders have an influence on company's CSR activities (e.g., Johnson et al, 2018;Kyaw et al, 2021;Lopatta et al, 2017;Prado-Lorenzo et al, 2009;Rahman et al, 2019). For instance, firms with financially dependent on the government are more likely to engage in social responsibility activities (e.g., Harvey & Schaefer, 2001;Lopatta et al, 2017;Prado-Lorenzo et al, 2009).…”

A New Grey Target Evaluation Method of Science and Technology Talents Considering ‘Dominant-Implicit’ Reference Points

“…There are two ways to express interval grey numbers, one being the conventional data range expression (see the data on the left of each column in the table) and the other being the combination expression of a kernel and the degree of greyness (see the data on the right of each column in the table). [15,20] 17.5 0.25 [9,10] 9.5 0.08 [4,6] 5.0 0.33 [22,30] 26.0 0.13 [10,15] 12.5 0.17 S 2 [20,22] 21.0 0.10 [12,14] 13.0 0.15 [4,7] 5.5 0.50 [30,35] 32.5 0.08 [25,32] 28.5 0.24 S 3 [16,30] 23.0 0.70 [11,13] 12.0 0.15 [5,8] 6.5 0.50 [40,50] 45.0 0.17 [18,28] 23.0 0.34 S 4 [25,30] 27.5 0.25 [13,18] 15.5 0.38 [7,9] 8.0 0.33 [60,65] 62.5 0.08 [20,35] 27.5 0.52 S 5 [22,24] 23.0 0.10 [10, 13] 11.5 0.23 [4,6] 5.0 0.33 [45,50] 47.5 0.08 …”

“…HRM research can be divided into three themes, namely HR enablers (technical and organizational), HR applications (description and diagnosis) and HR value (organizational value and talent value) [17]. An inclusive work environment fosters employee loyalty to the company and leads to greater employee involvement in innovative activities [18]. The international competitiveness of China's service trade is analyzed using the International Market Share Index, the Displayed Comparative Advantage Index and the Trade Competitiveness Index [19].…”