Do diverse and inclusive workplaces benefit investors? An Empirical Analysis on Europe and the United States

Karoline Bax

Finance Research Letters, 2023, vol. 52, issue C

Abstract: As the COVID-19 pandemic restrictions slow down, employees start to return to their offices. Hence, the discussions on optimal workplaces and issues of diversity and inclusion have peaked. Previous research has shown that employees and companies benefit from positive workplace changes. This research questions whether allowing for diversity and inclusion criteria in portfolio construction is beneficial to investors. By considering the new Diversity & Inclusion (D&I) score by Refinitiv, I find evidence that investors might suffer lower returns and pay for investing in responsible (i.e., more diverse and inclusive) employers in both the US and European market.

Keywords: Diversity; Inclusion; D&I score; Market weighted portfolio (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:52:y:2023:i:c:s1544612322006857

DOI: 10.1016/j.frl.2022.103509

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