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Comparative Analysis of Racio-Ethnicity and Gender Impact on Stock Risk

Author

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  • J. R. Smith

    (Jackson State University, MS, USA)

  • Andrea Tillman-Hawkins

    (Alabama A&M University, AL, USA)

  • Alisa L. Mosley

    (Tennessee State University, TN, USA)

  • Jean-Claude Assad

    (Jackson State University, MS, USA)

Abstract

The study purpose is to examine the relationship between cultural diversity and firm performance from the perspective of the investors. Stock values were used to test the hypothesized relationships between the components of cultural diversity (i.e. racio-ethnicity and gender impact on firm performance) using an event study methodology with regression analysis techniques. The findings indicate that the influences of racio-ethnicity and gender diversity on firm performance were mixed. However, significant relationships were found between the components of cultural diversity and firm performance. New directions for future research are offered.

Suggested Citation

  • J. R. Smith & Andrea Tillman-Hawkins & Alisa L. Mosley & Jean-Claude Assad, 2014. "Comparative Analysis of Racio-Ethnicity and Gender Impact on Stock Risk," International Journal of Risk and Contingency Management (IJRCM), IGI Global, vol. 3(3), pages 18-41, July.
    • Handle: RePEc:igg:jrcm00:v:3:y:2014:i:3:p:18-41
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