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LGBTQ and finance

Author

Listed:
  • Brahma, Sanjukta
  • Gavriilidis, Konstantinos
  • Kallinterakis, Vasileios
  • Verousis, Thanos
  • Zhang, Mengyu

Abstract

Recent changes in workplace and corporate board diversity policies and a series of court rulings have signalled a fundamental change in the treatment of lesbian, gay, bisexual, transgender and queer (henceforth LGBTQ) people in the corporate world. In this paper, we survey the burgeoning literature on the role of sexual orientation in finance. Studies show that there is a positive relationship between the adoption of LGBTQ-friendly policies and firm performance. We identify the factors that influence a firm's decision to adopt LGBTQ-friendly policies. We also provide evidence that sexual preferences play an important role in leadership styles in the household. Overall, our review suggests that LGBTQ research allows novel insights regarding how LGBTQ policies create value for the firm, insights that help us identify several directions for future research.

Suggested Citation

  • Brahma, Sanjukta & Gavriilidis, Konstantinos & Kallinterakis, Vasileios & Verousis, Thanos & Zhang, Mengyu, 2023. "LGBTQ and finance," International Review of Financial Analysis, Elsevier, vol. 86(C).
    • Handle: RePEc:eee:finana:v:86:y:2023:i:c:s1057521923000637
    DOI: 10.1016/j.irfa.2023.102547
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    More about this item

    Keywords

    LGBTQ policies; Finance; Firm performance; Corporate governance; Workplace diversity;
    All these keywords.

    JEL classification:

    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • G50 - Financial Economics - - Household Finance - - - General
    • D10 - Microeconomics - - Household Behavior - - - General
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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