CEO political liberalism,stakeholders, and firms’ support for LGBT employees |
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| Institution: | 1. Department of Management, California State University Fullerton, United States;2. School of Administrative Studies, York University, Ontario, Canada;3. Lazaridis School of Business and Economics, Wilfrid Laurier University, Ontario, Canada;4. Ted Rogers School of Management, Toronto Metropolitan University, Ontario, Canada |
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| Abstract: | We argue that CEO political liberalism, or the extent to which CEOs are more liberal rather than conservative, affects firms’ support for LGBT employees. Specifically, compared to conservative CEOs, liberal CEOs will be more likely to support LGBT employees by implementing LGBT-friendly policies. We furthermore posit that the presence of certain internal and external stakeholders—including boards, top management teams, and employees, as well as transient institutional investors and LGBT advocacy organizations—alter the proposed effect. Results based on a sample of Fortune 500 firms support our arguments. Our findings contribute to the literatures on leadership, stakeholders, and workplace diversity. |
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| Keywords: | CEO political liberalism Stakeholders LGBT employees Organizational diversity Contextual factors |
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