Labor investment inefficiency and LGBTQ+-friendliness

Lisa  Schopohl; Andrew Urquhart; Hanxiong Zhang

doi:10.1016/j.irfa.2024.103469

Labor investment inefficiency and LGBTQ+-friendliness

Lisa Schopohl, Andrew Urquhart, Hanxiong Zhang

Ysgol Busnes Albert Gubay

University of Reading

Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

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We study the effect of firms’ LGBTQ+-friendliness on their labor investment efficiency and find that an improvement in firms’ LGBTQ+-friendliness leads to greater labor investment inefficiencies, and that more LGBTQ+-friendly firms tend to underinvest in labor. However, we show that this relationship diminishes over time as societal and legal support for LGBTQ+ equal rights increases. A variety of firm and societal characteristics moderate the negative link between corporate LGBTQ+-friendliness and labor investment efficiency.

Iaith wreiddiol	Saesneg
Rhif yr erthygl	103469
Cyfnodolyn	International Review of Financial Analysis
Cyfrol	95
Rhif cyhoeddi	Part B
Dyddiad ar-lein cynnar	23 Gorff 2024
Dynodwyr Gwrthrych Digidol (DOIs)	https://doi.org/10.1016/j.irfa.2024.103469
Statws	Cyhoeddwyd - Hyd 2024

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10.1016/j.irfa.2024.103469

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title = "Labor investment inefficiency and LGBTQ+-friendliness",

abstract = "We study the effect of firms{\textquoteright} LGBTQ+-friendliness on their labor investment efficiency and find that an improvement in firms{\textquoteright} LGBTQ+-friendliness leads to greater labor investment inefficiencies, and that more LGBTQ+-friendly firms tend to underinvest in labor. However, we show that this relationship diminishes over time as societal and legal support for LGBTQ+ equal rights increases. A variety of firm and societal characteristics moderate the negative link between corporate LGBTQ+-friendliness and labor investment efficiency.",

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AB - We study the effect of firms’ LGBTQ+-friendliness on their labor investment efficiency and find that an improvement in firms’ LGBTQ+-friendliness leads to greater labor investment inefficiencies, and that more LGBTQ+-friendly firms tend to underinvest in labor. However, we show that this relationship diminishes over time as societal and legal support for LGBTQ+ equal rights increases. A variety of firm and societal characteristics moderate the negative link between corporate LGBTQ+-friendliness and labor investment efficiency.

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Labor investment inefficiency and LGBTQ+-friendliness

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