State-Level Culture and Workplace Diversity Policies: Evidence from US Firms

Nadarajah, Sivathaasan; Atif, Muhammad; Gull, Ammar Ali

doi:10.1007/s10551-021-04742-2

Cited by 26 publications

(22 citation statements)

References 80 publications

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“…but that should not have a direct or indirect relation with the dependent variable (exogenous variable) is a challenge when using the 2SLS technique. A valid IV must meet two conditions: first, the relevance 15 The mean differences between treatment and control groups are based on the average treatment effect on the treated (Ahmed et al, 2021;Nadarajah et al, 2021).…”

Section: Endogeneity Testsmentioning

confidence: 99%

The effect of corporate environmental, social and governance disclosure on cash holdings: Life‐cycle perspective

2022

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This paper examines the impact of corporate environmental, social and governance (ESG) disclosure on cash holdings, specifically during various stages of the firm life cycle of S&P 1500 indexed firms. Using a sample of 9811 firm-year observations from 2006 to 2015, we document a significantly negative relation between ESG disclosure and cash holdings in the introduction, growth and shake-out/decline stages, and those lower cash holdings are associated with higher firm performance and a positive value of cash. Our findings are robust to alternative econometric specifications, alternative measures, additional control variables, propensity score matching and the use of an instrumental variable approach. Overall, our study offers useful insights into the global debate on ESG.

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Section: Endogeneity Testsmentioning

confidence: 99%

The effect of corporate environmental, social and governance disclosure on cash holdings: Life‐cycle perspective

2022

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“…Finally, we follow prior studies (Abid et al, 2021; Gull et al, 2018; Gull, Atif, et al, 2021; Nadarajah et al, 2021; Nekhili et al, 2020; Shahab et al, 2021; Wintoki et al, 2012) and use the GMM regression to control for unobserved heterogeneity, simultaneity, and the dynamic relationship between environmental performance and firm performance. We also report the Arellano‐Bond test for AR(1), the Arellano‐Bond test for AR(2) in first differences, and the Hansen test for over‐identification to ensure the accuracy of the GMM regressions.…”

Section: Empirical Results and Discussionmentioning

confidence: 99%

Revisiting the association between environmental performance and financial performance: Does the level of environmental orientation matter?

Gull

Saeed²,

Suleman

et al. 2022

Corp Soc Responsibility Env

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In this study, we re-examine the nexus of environmental performance and financial performance by benchmarking firms relative to their industry peers based on environmental performance in a given year to identify best-in-class and worst-in-class firms. After correcting for distributional issues while using environmental performance scores (i.e., clustering scores around the median and material differences within industries and time) and financial performance ratios (i.e., the potential impact of extreme values), we find that best-in-class firms exhibit higher financial performance than their industry peers (i.e., worst-in-class and average firms). Our findings are robust to alternative measures of environmental performance (i.e., subdimensions of environmental performance) and financial performance. Finally, our results are robust to different identification strategies. Our findings present important and timely policy implications for firms, ESG fund managers and investors.

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“…Our study calls for attention to differences among workers when shaping diversity works (see Marescaux et al, 2021 ). To accrue even the much mentioned economic benefits of diversity ( Gilbert et al, 1999 ; Köllen, 2021 ; Nadarajah et al, 2022 ), organizations should transcend one size fits all, standardized HRM and diversity works activities for all employees, and co-design HRM practices and diversity works to cater for not only the in-group members but also the out-group members.…”

Section: Discussionmentioning

confidence: 99%

“…Working together with people with different characteristics in certain respects is not a guarantee of effective management of diversity ( Sartori et al, 2022 ). It is necessary to create supportive cultures that will consider all stakeholders’ concerns, including employees from underrepresented backgrounds ( Nadarajah et al, 2022 ). For this to be achieved, there is a need for management practices ( Ehrke et al, 2014 ; Roberson, 2019 ) and inclusive functions for all employees ( Geiger and Jordan, 2014 ; Roberson and Perry, 2021 ) that can make people work together in harmony.…”

Section: Introductionmentioning

confidence: 99%

Beyond the three monkeys of workforce diversity: Who hears, sees, and speaks up?

et al. 2022

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The purpose of this study was to explain differences between employees who feel a sense of belonging and those who feel a sense of otherness in terms of their opinions about diversity works in their organizations. We conducted an empirical study to examine the perceptual differences between two independent groups of the study “who feel a sense of belonging” and “who feel a sense of otherness.” We collected data from 792 employees working for organizations in different sizes, industries, and capital structures, which enriched the representativeness of the sample. The findings show that out-group members remain less satisfied with diversity works in their organizations based on four main issues such as “competence of diversity actors,” “embeddedness of diversity works in organizational policies/practices,” “diversity awareness in the HRM functions,” and “diversity-related employee satisfaction.” This paper makes two contributions. First, it contributes to the extant literature an understanding of the differences between those who remain indifferent to diversity works and those who care to see, speak, and hear about them. Second, with a few exceptions, extant studies on diversity works have been dominated by Western-centered research. Research is needed on countries with different macro-contextual conditions, such as different legal regulations, socio-political status, and history. For this study, survey data were collected from people who work in Turkey, a country which has limited legal measures and underdeveloped discourses for equality, diversity, and inclusion. The paper provides significant insights into leading diversity works in national settings with less developed supportive mechanisms for diversity.

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State-Level Culture and Workplace Diversity Policies: Evidence from US Firms

Cited by 26 publications

References 80 publications

The effect of corporate environmental, social and governance disclosure on cash holdings: Life‐cycle perspective

The effect of corporate environmental, social and governance disclosure on cash holdings: Life‐cycle perspective

Revisiting the association between environmental performance and financial performance: Does the level of environmental orientation matter?

Beyond the three monkeys of workforce diversity: Who hears, sees, and speaks up?

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