COMPETITIVENESS THROUGH MANAGEMENT OF DIVERSITY - EFFECTS ON STOCK-PRICE VALUATION

• 成果类型: Note
• 署名作者: WRIGHT, P; FERRIS, SP; HILLER, JS; KROLL, M
• 署名单位: University of Texas System; University of Texas at Tyler; University of Missouri System; University of Missouri Columbia; Virginia Polytechnic Institute & State University
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/256736
• 发表日期: 1995
• 页码: 272-287
• 关键词: PERFORMANCE RATINGS; sex-discrimination; RACE; women; determinants; Occupations; promotions; advantage; criteria; black

摘要

This study's premise is that firms that can lower their costs and enhance their differentiation through the effective management of their human resources have a competitive advantage. Using data from 1986 through 1992, we examined the impact that announcements of U.S. Department of Labor awards for exemplary affirmative action programs had upon the stock returns of winning corporations and the effect that announcements of damage awards from the settlement of discrimination lawsuits had on the stock returns of corporations. The results suggest that announcements of awards may be associated with competitive advantage and that discrimination-related announcements may be associated with inability to achieve such advantage.