The Role of Corporate Workplace Inclusivity Policies, Brand Equity, and Innovation Intensity in Firm Profitability: A Moderated Mediational Approach

Mahabubur Rahman, M. Ángeles Rodríguez-Serrano, Anwar Sadat Shimul and Anisur Faroque
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Mahabubur Rahman: ESC [Rennes] - ESC Rennes School of Business
M. Ángeles Rodríguez-Serrano: Universidad de Sevilla = University of Seville
Anwar Sadat Shimul: Curtin University
Anisur Faroque: University of Vaasa

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Abstract: Firms are increasingly adopting pro-lesbian, -gay, -bisexual, -transgender, inclusivity and diversity (LGBT-ID) policies for workforce management. This study develops a parsimonious, albeit complex, moderated-mediated framework by employing a panel dataset combining data from archival sources and involving a sample of predominantly large and publicly held firms from the USA between 2002 and 2018. The number of observations varied across variables with a minimum of 414 observations (corporate brand equity) and a maximum of 3,566 observations (self-reported LGBT-ID policy). This treatise demonstrates that adopting LGBT-ID policies positively impacts firms' profitability. Moreover, pro-LGBT-ID policies during this specific period have a positive effect on corporate brand equity, which in turn affects firm profitability, indicating that brand equity plays a mediating role in the nexus between pro-LGBT-ID policies and firms' financial performance. Furthermore, innovation intensity strengthens the relationship between pro-LGBT-ID policies and brand equity during the sample period of the study.

Date: 2023-12
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Published in Journal of Macromarketing, 2023, 43 (4), pp.460-475. ⟨10.1177/02761467231187848⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04398128

DOI: 10.1177/02761467231187848

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