London — Employing more women brings a stock market boost, according to Morgan Stanley research on how diversity links to share prices.
This outperformance was a global phenomenon, despite big differences in gender equality between regions such as Europe, with nearly a third of board seats taken by women in May 2019, and Japan, with just 5%. Morgan Stanley researchers examined the percentage of women employed throughout the hierarchy of almost 2,000 companies on the MSCI World index, adjusting for company sector. They found diverse companies outperformed even after controlling for size, yield, profitability and risk.
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