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Study debunks McKinsey findings that diversity improves financial performance

( April 12, 2024, 10:47 GMT | Official Statement) -- MLex Summary: An academic study claims to have debunked McKinsey’s findings that diversity in the boardroom improves the financial performance of listed companies. In four reports published between 2015 and 2023, the consultancy noted statistically positive relations between the earnings of large public firms and the racial/ethnic diversity of their executives. However, in an article for Econ Journal Watch, accounting professors Jeremiah Green and John Hand said publicly available data from the S&P500 index showed there is no such relationship. UK regulators, including the Financial Conduct Authority, have quoted McKinsey’s findings to support their recent work on diversity and inclusion.Article attached....

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