Determinants of LGBTQ+ Corporate Policies
研究了企业LGBTQ+友好政策的决定因素，发现年轻、财力充足、员工教育水平高、面向零售客户且位于自由地区的企业政策更友好，且LGBTQ+政策与整体CSR表现弱相关，但会受到股东提案压力的影响。
Abstract We study the determinants of firms’ LGBTQ+ policies and their relation to general CSR policies. Common factors explain LGBTQ+ policies related to firms’ primary stakeholders and those aimed at public LGBTQ+ efforts: younger firms, those with more financial resources, more educated workforces, catering to retail customers, and located in liberal areas have more LGBTQ+-friendly policies. LGBTQ+ initiatives encounter less societal agreement than CSR initiatives. Illustrating the distinctiveness of LGBTQ+ issues in the CSR space, we find that firms’ LGBTQ+ friendliness only weakly correlates with overall CSR performance. Lastly, we show that firms’ LGBTQ+ policies respond to pressure from shareholder proposals.