Examining the Link Between Diversity and Firm Performance
利用100家企业的纵向数据，研究了多元化声誉和领导层种族多元化对企业财务绩效的影响，发现多元化声誉与账面市值比正相关，领导层多元化与收入、净收入等呈U型关系。
Given the scarcity of empirical research on the impact of diversity on organizational performance, the authors used longitudinal data for 100 firms to test hypotheses related to the effects of diversity reputation and leader racial diversity on firm financial outcomes. The results showed a positive relationship between diversity reputation and book-to-market equity and a curvilinear, U-shaped relationship among leader diversity and revenues, net income, and book-to-market equity. The analyses suggest that economic benefits generated from diversity reputation may primarily derive from capital rather than product markets. Furthermore, firm performance declines with increases in the representation of racial minorities in leadership up to a point, beyond which further increases in diversity are associated with increases in performance.