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“Firm Size and Workplace Diversity and Inclusion,” Christos Ntantamis and Jun Zhou, Economics Letters, 2025.

Dr. Christos Ntantamis, together with Dr. Jun Zhou of the Faculty of Management, analyze in a recent paper whether larger firms tend to have stronger commitments to workplace diversity and inclusion, using a panel dataset of publicly listed companies across 33 countries from 2016 to 2022 and employing LSEG’s newly developed Diversity & Inclusion scores to measure firms’ engagement. They find a positive and robust relationship: larger firms are significantly more likely to cultivate diversity and inclusion practices, consistent with legitimacy theory’s prediction that bigger firms face greater stakeholder scrutiny and thus have stronger incentives to signal social responsibility. The result is important because it suggests that firm size is a systematic predictor of corporate social behaviour in the social/ESG domain.