Paper Title :Do Diversity and Inclusion Words in 10-Ks Reflect Corporate Value?

Author :Benjamin P Foster, Andrew Manikas

Article Citation :Benjamin P Foster ,Andrew Manikas , (2022 ) " Do Diversity and Inclusion Words in 10-Ks Reflect Corporate Value? " , International Journal of Management and Applied Science (IJMAS) , pp. 21-23, Volume-8,Issue-7

Abstract : Abstract - Some previous studies have found that diversity efforts have a positive impact on corporate value. This study examines whether the diversity words mentioned in Management’s Discussion and Analysis, Item 7 of 10-Ks filed with the Securities and Exchange Commission of the U.S. can indicate greater corporate value. One prior study found that diversity words count from Item 7 are significantly correlated with diversity measures/ratings constructed by outside entities. Somewhat surprisingly, we find the diversity word count is negative and significant when included in a regression model of corporate value, as measured by Tobin’s q. Keywords - 10-K filings, corporate value, diversity and inclusion words, Tobin’s q.

Type : Research paper

Published : Volume-8,Issue-7

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