jump to navigation

Stock price reactions to GLBT nondiscrimination policies April 4, 2010

Posted by Geekgirl in Legal and Policies, Resources.
Tags: ,
trackback

So ENDA is not only the ethical thing to do, it’s good for the bottom line

From the Human Resource  Science Forum

Stock price reactions to GLBT nondiscrimination policies
Peng Wang *, Joshua L. Schwarz
Miami University, Oxford, Ohio
email: Peng Wang (schwarjl@muohio.edu)

*Correspondence to Peng Wang, Department of Management, Farmer School of Business, Miami University, 2013 Farmer Hall, Oxford, Ohio 45056, Phone: 513-529-1653, Fax: 513-529-2342

This study examines workplace issues of gay, lesbian, bisexual, and transgender (GLBT) employees. Specifically, we analyze the effect of firm GLBT nondiscrimination policies on that firm’s stock market value. Corporate equality index (CEI) is used as a proxy for how firms manage GLBT issues. Results reveal that changes in firms’ standardized CEI scores are positively associated with changes in firms’ standardized stock price trend during the following year. Our findings suggest that the stock prices of firms with more progressive GLBT nondiscrimination policies relative to competing firms in the same industry outperform otherwise equivalent firms with lower CEI scores. © 2010 Wiley Periodicals, Inc.
ABSTRACT
Advertisements

Comments»

No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: