Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 18, 2020 erstellt
Description:
In this paper we investigate the effect of local political corruption on corporate sexual orientation equality (CSOE) in terms of supportive policies of Lesbian, Gay, Bisexual, and Transgender (LGBT) employees. We find evidence that firms headquartered in a more corrupt environment (states) initiate corporate policies that are less supportive of equal rights for LGBT employees. Additional tests reveal that this negative association is stronger for firms that have not already shielded their assets; for firms that are led by powerful CEOs; and for firms that are headquartered in states with more liberal ideological leaning. Our results survive an array of robustness and endogeneity tests