Diversity-Related Resources

Long Live the Meritocracy! Long Live Fiduciary Duty! Long Live DEI! (September 2024) (discussing why corporations' backtracking on DEI commitments can be of concern to investors)

New York State Bar Association Task Force on Advancing Diversity Report and Recommendations (September 2023) (discussing, among other things, the implications of the Supreme Court’s decision striking down university affirmative action programs on businesses)

Finpublica Summary of September 2023 NYSBA Task Force on Advancing Diversity Report (October 2023)

Due Diligence 2.0 (recommending due diligence practices that encourage investment with diverse asset managers)

Forbes: Yes, You Can Still Invest in Diverse Entrepreneurs: Here’s How (August 2023) (exploring even post the Supreme Court’s anti-university affirmative action decision: (1) how race can be considered in remedying past, specific harms , (2) that investors can continue to focus on entrepreneurs seeking strong returns while best serving diverse communities, and (3) that investors can consider the individual experience of diverse investors in considering investment decisions)

TIIP: Introduction to Racial Equity as a Systemic Risk (June 2023) (explaining how racial inequity threatens both economic-growth and long-term investment returns and why/how investors can take action)

Underestimated Start-Up Founders: The Untapped Opportunity (June 2023) (discussing how closing the start-up funding gap is key to driving innovation and economic gains)

Entrepreneur: 7 Keys to Authentically Investing in Diverse Start-ups (October 2021) (discussing specific steps firms to take to invest in diverse entrepreneurs)

A CEO Blueprint for Racial Equity by FSG, PolicyLink, and Just Capital (July 2020) (providing actions CEOs can take to promote racial equity inside their companies, communities, and the broader society)

Harvard Business Review: A VC’s Guide to Investing in Black Founders (June 2020)

Mission Investors: Investing In and With Entrepreneurs and Leaders of Color (March 2019) (discussing ways to invest with BIPOC leaders and listing funds, advisors, and accelerators led by entrepreneurs of color)

Indeed & Glassdoor’s Hiring and Workplace Trends Report 2023 (finding that nearly three quarters of workers aged 18-34 would consider turning down a job or leaving a company where their manager did not support DEI initiatives)

As You Sow: Workplace Diversity and Financial Performance (November 2022) (finding a positive association between diverse management and financial performance)

Morgan Stanley: Does Ethnic Diversity on Corporate Boards Affect Stock Prices (January 2022) (finding that “racial and ethnic diversity on corporate boards of large-caps had a significant positive impact on stock price”)

Citi: Closing the Racial Inequality Gaps - The Economic Cost of Black Inequality in the U.S. (September 2020) (Finding that discrimination against Black Americans cost the U.S. economy $16 trillion over the past 20 years)

McKinsey & Company: Diversity Wins - How Inclusion Matters (May 2020) (study of 1,000 public companies finding that firms in the top quartile for racial and ethnic diversity were 36% more likely to have financial returns over their national industry means)

Wall Street Journal: The Business Case for More Diversity (October 2019) (S&P 500 survey finding that the 20 most diverse companies have better operating results and shareholder returns than the least diverse firms).

Boston Consulting Group: How Diverse Leadership Teams Boost Innovation (January 2018) (finding that that diverse leadership teams lead to innovation and improved financial performance — with companies with above average management diversity reporting innovation-related revenue 19% higher and overall EBITA 9% higher than companies with below average management diversity)