Employee demographic diversity and firm performance
研究美国上市公司员工在年龄、性别和种族上的多样性是否影响未来股票回报，发现没有证据表明多样性高的公司表现更好，且与净资产收益率、毛利润和劳动生产率也无显著关联。
Abstract This article examines the relationship between employee demographic diversity and firm performance measured by future stock returns for a large sample of US public companies. We use novel demographic data extracted from employees' online profiles and resumes and focus on three key aspects of employee demographic diversity: age, gender, and ethnicity. We find no evidence supportive of an outperformance associated with greater employee‐diverse companies, neither using portfolio‐sorting approaches nor cross‐sectional and panel regressions. We also find no significant associations between employee demographic diversity and ROE, gross profit, and labor productivity.