Author ORCID Identifier
https://orcid.org/0009-0001-4899-4599
Date Available
5-10-2027
Year of Publication
2025
Document Type
Doctoral Dissertation
Degree Name
Doctor of Philosophy (PhD)
College
Business and Economics
Department/School/Program
Management
Faculty
Zhi Huang
Faculty
Daniel S. Halgin
Abstract
Institutional environments play a crucial role in shaping how stakeholders perceive and respond to firms’ diversity initiatives. While prior research recognizes the importance of these contexts in influencing the relationship between diversity practices and firm performance (e.g., Zhang, 2020), scholars have rarely adopted a dynamic perspective that accounts for rapid change in the institutional environments regarding diversity. In this dissertation, I present three studies that address how institutional dynamics (i.e., legal changes, social attitude dynamics, and political shifts) affect the relationship between firm diversity practices (i.e., LGBTQ inclusion, board gender diversity) and market performance (i.e., cumulative abnormal returns, Tobin’s Q). The three papers contribute uniquely to the field, together unpacking important mechanisms by which evolving institutional environments affect the business implications of firm diversity initiatives.
Digital Object Identifier (DOI)
https://doi.org/10.13023/etd.2025.49
Recommended Citation
Zhao, Xiwen, "Essays on Institutional Dynamics and Investor Perceptions of Firm Diversity Initiatives" (2025). Theses and Dissertations--Management. 18.
https://uknowledge.uky.edu/management_etds/18
