We test the hypothesis that culturally related international diversification will have a positive impact on firm performance and that the opposite will be true for culturally unrelated globalization. Cultural diversity for Fortune 500 firms was used to predict performance over a ten-year period (1985–1994), controlling for several organizational and industry characteristics. Regression tests using nine indicators of cultural diversity revealed no significant cultural effects. Alternate interpretations are offered.
Cultural Diversity and the Performance of Multinational Firms
What Racism Costs Us All
Joseph Losavio. “What Racism Costs Us All.” IMF. September 2020. https://www.imf.org/en/Publications/fandd/issues/2020/09/the-economic-cost-of-racism-losavio.
The Economic Cost of Gender-Based Discrimination in Social Institutions
Gaëlle Ferrant and Alexandre Kolev. “The economic cost of gender-based discrimination in social institutions.” OECD Development Centre. June 2016.