Diversity and Performance

Feng Li and Venky Nagar ()
Additional contact information
Venky Nagar: University of Michigan, Ann Arbor, Michigan 48109

Management Science, 2013, vol. 59, issue 3, 529-544

Abstract: This study measures the performance of U.S. firms initiating same-sex domestic partnership benefit (SSDPB) policies. The results show that holding these firms upon their SSDPB initiation in a calendar portfolio earns a four-factor annualized excess return (alpha) of approximately 10% over the 1995-2008 sample period, beating 95% of all professional mutual funds in the United States. This finding is robust to several tests of reverse causality. SSDPB adopters also show significant improvement in operating performance relative to nonadopters. This paper was accepted by Brad Barber, finance.

Keywords: utility; preference; applications; multiattribute; finance; management (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21)

Downloads: (external link)
http://dx.doi.org/10.1287/mnsc.1120.1548 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:59:y:2013:i:3:p:529-544

Access Statistics for this article

More articles in Management Science from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().