Journal of Business Ethics

, Volume 128, Issue 4, pp 743–767 | Cite as

Workforce Diversity and Religiosity

  • Jinhua Cui
  • Hoje Jo
  • Haejung Na
  • Manuel G. Velasquez
Article

Abstract

Workforce diversity has received increasing amounts of attention from academics and practitioners alike. In this article, we examine the empirical association between a firm’s workforce diversity (hereafter, diversity) and the degree of religiosity of the firm’s management by investigating their unidirectional and endogenous effects. Employing a large and extensive U.S. sample of firms from the years 1991–2010, we find a positive association between a measure of the firm’s commitment to diversity and the religiosity of the firm’s management after controlling for various firm characteristics. In addition, after controlling for endogeneity with the dynamic panel generalized method of moment, we still find a positive association between the firm’s diversity and management’s religiosity. We interpret these results as supportive of the religious motivation explanation that views the firm as a human community and considers religion as a factor that influences managers to more positively embrace diversity. Our results, however, provide no support for the resource-constraint hypothesis that views the firm as a nexus of contracts and sees managers as aiming to maximize shareholder returns under resource constraints that force them to invest only in projects that have a positive net present value (NPV) and reject diversity initiatives since these do not have a positive NPV.

Keywords

Workforce diversity Religiosity Religious motivation hypothesis Resource-constraint explanation 

References

  1. Agnew, R. (1998). The approval of suicide: A social psychological model. Suicide & Life Threatening Behavior, 28, 205–225.Google Scholar
  2. Albrecht, S. L., Chadwick, B. A., & Alcorn, D. S. (1977). Religiosity and deviance. Journal for the Scientific Study of Religion, 16, 263–274.Google Scholar
  3. Allport, G., & Ross, J. (1967). Personal religious orientation and prejudice. Journal of Personality and Social Psychology, 5, 447–457.Google Scholar
  4. Armstrong, C., Flood, P. C., Guthrie, J. P., Liu, W., Maccurtain, S., & Mkamwa, T. (2010). The impact of diversity and equality management on firm performance. Human Resource Management, 49(6), 977–998.Google Scholar
  5. Baier, C., & Wright, B. (2001). If you love me keep my commandments: A meta-analysis of the effect of religion on crime. Journal of Research in Crime and Delinquency, 38, 3–21.Google Scholar
  6. Bantel, K. A., & Jackson, S. E. (1989). Top management and innovations in banking: Does the composition of the top team make a difference? Strategic Management Journal, 10, 107–124.Google Scholar
  7. Barkan, S. E. (2006). Religiosity and premarital sex in adulthood. Journal for the Scientific Study of Religion, 45(3), 407–417.Google Scholar
  8. Batson, C. D., Schoenrade, P., & Ventis, W. L. (1993). Religion and the individual: A social-psychological perspective. New York: Oxford University Press.Google Scholar
  9. Bearman, P. S., & Bruckner, H. (2001). Promising the future: Virginity pledges and first intercourse. American Journal of Sociology, 4, 859–912.Google Scholar
  10. Bolton, P., Scheinkman, J., & Xiong, W. (2006). Executive compensation and short termist behavior in speculative markets. Review of Economic Studies, 73(3), 577–610.Google Scholar
  11. Brownfield, D., & Sorenson, A. M. (1991). Religion and drug use among adolescents: A social support conceptualization and interpretation. Deviant Behavior: An Interdisciplinary Journal, 12, 259–276.Google Scholar
  12. Butler, S. (2013). Five steps for seating women at the boardroom table. Network of Executive Women. April 24.Google Scholar
  13. Carter, D. A., Simkins, B. J., & Simpson, W. G. (2003). Corporate governance, board diversity, and firm value. Financial Review, 38(1), 33–53.Google Scholar
  14. Chadwick, B. A., Top, B. L., & McClendon, R. J. (2010). Shield of faith: The power of religion in the lives of LDS youth and young adults. Provo, UT: Religious Studies Center.Google Scholar
  15. Chatman, J. (1991). Matching people and organizations: Selection and socialization in public accounting firms. Administrative Science Quarterly, 36, 459–484.Google Scholar
  16. Chatterji, A., Levine, D., & Toffel, M. (2009). How well do social ratings actually measure corporate social responsibility? Journal of Economics and Management Strategy, 18, 125–169.Google Scholar
  17. Chavez, C. I., & Weisinger, J. Y. (2008). Beyond diversity training: A social infusion for cultural inclusion. Human Resource Management, 47, 331–350.Google Scholar
  18. Cheng, Q., & Warfield, T. (2005). Equity incentives and earnings management. Accounting Review, 80(2), 441–476.Google Scholar
  19. Christian, J., Porter, L. W., & Moffitt, G. (2006). Workplace diversity and group relations: An overview. Group Processes & Intergroup Relations, 9(4), 459–466.Google Scholar
  20. Coase, R. (1937). The nature of the firm. Economica, 4, 386–405. (Reprinted in The nature of the firm: Origins, evolution, and development: 1961–1974, by O. E. Williamson & S. G. Winter, Eds., 1991, New York: Oxford University Press).Google Scholar
  21. Cochran, J. K., & Akers, R. L. (1989). Beyond hellfire: An exploration of the variable effects of religiosity on adolescent alcohol and marijuana use. Journal of Research in Crime and Delinquency, 26(3), 198–225.Google Scholar
  22. Cole, B. & Salimath, M. (2012). Diversity identity management: Organizational perspectives. Journal of Business Ethics (in press).Google Scholar
  23. Cox, T. (2001). Creating the multicultural organization: A strategy for capturing the power of diversity. San Francisco, CA: Jossey-Bass.Google Scholar
  24. Cox, T. H., Lobel, S. A., & Mcleod, P. L. (1991). Effects of ethnic group cultural differences on cooperative and competitive behavior on a group task. Academy of Management Journal, 34, 827–847.Google Scholar
  25. Crane, A., & Matten, D. (2004). Business ethics, a European perspective: managing corporate citizenship and sustainability in the age of globalization. Oxford: Oxford University Press.Google Scholar
  26. Dezso, C. L., & Ross, D. G. (2012). Does female representation in top management improve firm performance? A panel data investigation. Strategic Management Journal, 33(9), 1072–1089.Google Scholar
  27. Dhaliwal, D., Oliver, L., Tsang, A., & Yang, G. (2011). Voluntary nonfinancial disclosure and the cost of equity capital: The initiation of corporate social responsibility reporting. Accounting Review, 86(1), 59–100.Google Scholar
  28. Donahue, M. J., & Benson, P. L. (1995). Religion and the well-being of adolescents. Journal of Social Issues, 51, 145–160.Google Scholar
  29. Dyreng, S., Mayew, W. J., & Williams, C. D. (2010). Religious social norms and corporate financial reporting. Working paper.Google Scholar
  30. El Ghoul, S., Guedhami, Ni,Y., Pittman, J., & Saadi, S. (2012). Does religion matter to equity pricing? Journal of Business Ethics (in press).Google Scholar
  31. Ellingsen, M. (1993). The Cutting edge: How churches speak on social issues. Grand Rapids, MI: Wm. B. Eerdmans Publishing Co.Google Scholar
  32. Ellison, C. G., Burr, J. A., & McCall, P. (1997). Religion homogeneity and metropolitan suicide rates. Social Forces, 76, 273–299.Google Scholar
  33. Emerson, M. O., & Sikkink, D. (2006). Portraits of American Life Study, 1st Wave, 2006. Google Scholar
  34. Fama, E., & French, K. (1997). Industry costs of equity. Journal of Financial Economics, 43, 153–197.Google Scholar
  35. Fastnow, C., Grant, J., & Rudolph, T. (1999). Holy roll calls: religious tradition and voting behavior in the U.S. House. Social Science Quarterly, 80, 687–701.Google Scholar
  36. Finkelstein, S., & Hambrick, D. C. (1996). Strategic leadership: Top executives and their effects on organizations. New York: West Publishing Company.Google Scholar
  37. Finn, D. (2012). Human work in Catholic social thought. American Journal of Economics and Sociology, 71(4), 874–885.Google Scholar
  38. Freeman, D. D. (2001). Fifty years of social and ethical perspectives and teachings. Prism: A theological forum for the United Church of Christ, 21(2), 46–74.Google Scholar
  39. Friedman, M. (1970). The social responsibility of business is to increase its profits. The New York times Magazine, September 13, 1970.Google Scholar
  40. Geyer, A., & Baumeister, R. (2005). Religion, morality, and self-control. In F. Raymond & L. Crystal (Eds.), The Handbook of Religion and Spirituality (pp. 412–432). New York: The Guiford Press.Google Scholar
  41. Gibson, K. (2000). The moral basis of stakeholder theory. Journal of Business Ethics, 26(3), 245–257.Google Scholar
  42. Gibson, D. (2005). September, spirituality in America: God on the job? Ladies Home Journal.Google Scholar
  43. Grasmick, H. G., Kinsey, K., & Cochran, J. K. (1991). Denomination, religiosity and compliance with the law: A study of adults. Journal for the Scientific Study of Religion, 30(1), 99–107.Google Scholar
  44. Greeley, A., & Hout, M. (2006). The truth about conservative Christians. Chicago: The University of Chicago Press.Google Scholar
  45. Greeley, A., McCready, W., Sullivan, T., & Fee, J. (1981). The young catholic adult. New York: Sadlier Press.Google Scholar
  46. Grinstein, Y., Weinbaum, D., & Yehuda, N. (2011). The economic consequences of perk disclosure. Unpublished working paper, Johnson School, Cornell University.Google Scholar
  47. Grullon, G., Kanatas, G., & Weston, J. (2010). Religion and corporate (mis)behavior. Working paper.Google Scholar
  48. Hansen, F. (2003). Diversity’s business case doesn’t add up. Workforce, 82(4), 28–32.Google Scholar
  49. Harrison, D. A., & Klein, K. J. (2007). What’s the difference? Diversity constructs as separation, variety, or disparity in organizations. Academy of Management Review, 32(4), 1199–1228.Google Scholar
  50. Herring, C. (2009). Does diversity pay? Race, gender, and the business case for diversity. American Sociological Review, 74(2), 208–224.Google Scholar
  51. Hilary, G., & Hui, K. (2009). Does religion matter in corporate decision making in America? Journal of Financial Economics, 93, 455–473.Google Scholar
  52. Hirschi, T., & Stark, R. (1969). Hellfire and delinquency. Social Problems, 17, 202–213.Google Scholar
  53. Hirschl, T. A., Booth, J. G., & Glenna, L. L. (2009). The link between voter choice and religious identity in contemporary society: Bringing classical theory back In. Social Science Quarterly, 90, 927–944.Google Scholar
  54. Hubbard, E. E. (2004). The Diversity scorecard: Evaluating the impact of diversity on organizational performance. Burlington, MA: Elsevier Butterworth-Heinmann.Google Scholar
  55. Huffman, T. (1988). In the world but not of the world: Religious alienation, and philosophy of human nature among Bible college and liberal arts college students (Iowa State University, Ames, Iowa) dissertation.Google Scholar
  56. Hunt, R. A., & King, M. (1971). The intrinsic-extrinsic concept: A review and evaluation. Journal for the Scientific Study of Religion, 10(4), 339–356.Google Scholar
  57. Hunt, S., & Vitell, S. (1986). A general theory of marketing ethics. Journal of Macromarketing, 8, 5–16.Google Scholar
  58. Hunt, S., & Vitell, S. (1993). The general theory of marketing ethics: A retrospective and revision. In S. N. Craig & J. A. Quelch (Eds.), Ethics in marketing (pp. 775–784). Homewood, IL: Irwin Inc.Google Scholar
  59. Iannaccone, L. (1998). Introduction to the economics of religion. Journal of Economic Literature, 36, 1465–1496.Google Scholar
  60. IBM. (2013). Diversity & Inclusion. [IBM diversity brochure]. Accessed July 10 at http://www-03.ibm.com/employment/us/diverse/downloads/ibm_diversity_brochure.pdf.
  61. ILO [International Labor Organization]. (2012). Convergences: Decent work and social justice in religious traditions, a handbook. Geneva, Switzerland: International Labor Organization.Google Scholar
  62. Ioannou, I. & Serafeim, G. (2010). The impact of corporate social responsibility on investment recommendations, Harvard Business School Working Paper No 11-017. Available at http://www.hbs.edu/research/pdf/11-017.pdf.
  63. Jackson, S. E., Brett, J. F., Sessa, V. I., Cooper, D. M., Julin, J. A., & Peyronnin, K. (1991). Some differences make a difference: Interpersonal dissimilarity and group heterogeneity as correlates of recruitment, promotion, and turnover. Journal of Applied Psychology, 76, 675–689.Google Scholar
  64. Jackson, S. E., Joshi, A., & Erhardt, N. L. (2003). Recent research on team and organizational diversity: SWOT analysis and implications. Journal of Management, Winter.Google Scholar
  65. Jehn, A., Northcraft, G., & Neale, M. (1999). Why difference makes a difference: A field study of diversity, conflict, and performance in workgroups. Administrative Science Quarterly, 44, 741–763.Google Scholar
  66. Jelen, T. G. (1998). Research in religion and mass political behavior in the United States: Looking both ways after two decades of scholarship. American Politics Quarterly, 26(1), 110–134.Google Scholar
  67. Jensen, M., & Meckling, W. (1976). Theory of firm: Managerial behavior, agency costs, and capital structure. Journal of Financial Economics, 3, 305–360.Google Scholar
  68. Jeynes, W. H. (2003). The effects of religious commitment on the attitudes and behavior of teens regarding premarital childbirth. Journal of Health & Social Policy, 17(1), 1–17.Google Scholar
  69. Jo, H., & Harjoto, M. (2011). Corporate governance and firm value: The impact of corporate social responsibility. Journal of Business Ethics, 103(3), 351–383.Google Scholar
  70. Jo, H., & Harjoto, M. (2012). The causal effect of corporate governance on corporate social responsibility. Journal of Business Ethics, 106(1), 53–72.Google Scholar
  71. John Paul II, (1984). Address of John Paul II to Members of the Special Committee of the United Nations Organization Against Apartheid, July 7, 1984. Accessed May 10, 2013. http://www.vatican.va/holy_father/john_paul_ii/speeches/1984/july/documents/hf_jp-ii_spe_19840707_onu-apartheid_en.html.
  72. John Paul II (1991) Centesimus Annus [On the Hundredth Anniversary]. Encyclical accessed April 17, 2013 at www.vatican.va.
  73. Kacperczyk, M. (2009). With greater power comes greater responsibility? Takeover protection and corporate attention to stakeholders. Strategic Management Journal, 30, 261–285.Google Scholar
  74. Kaler, J. (2002). Morality and strategy in stakeholder identification. Journal of Business Ethics, 39(1), 91–99.Google Scholar
  75. Kalev, A., Dobbin, F., & Kelley, E. (2006). Best practices or best guesses? Assessing the efficacy of corporate affirmative action and diversity practices. American Sociological Review, 71(4), 589–617.Google Scholar
  76. Kennedy, E. & Lawton, L. (1998). Religiousness and business ethics. Journal of Business Ethics Dordrecht, 17 (January 2), 163–175.Google Scholar
  77. Kochan, T., Bezrukova, K., Ely, R., Jackson, S., Joshi, A., & Jehn, K. (2003). The effects of diversity on business performance: Report of the diversity research network. Human Resource Management, 42, 3–21.Google Scholar
  78. Kohlberg, L. (1981). Essays on moral development, 1: The philosophy of moral development, moral stages and the idea of justice. San Francisco: Harper and Row.Google Scholar
  79. Konrad, A. M., Winter, S., & Gutek, B. A. (1992). Diversity in work group sex composition: implications for majority and minority members. In P. Tolbert & S. B. Bacharach (eds.), Research in the sociology of organizations, Vol. 13, pp. 191–228.Google Scholar
  80. Kosmin, B. & Keysar, A. (2009). American Religious Identification Survey (ARIS 2008), Trinity College, Hartford, CN: Institute for the Study of Secularism in Society and Culture.Google Scholar
  81. Kumar, A., Page, J., & Spalt, O. (2011). Religious beliefs, gambling attitudes, and financial market outcomes. Journal of Financial Economics, 102, 671–708.Google Scholar
  82. Kutcher, E., Bragger, J., Rodriguez-Srednicke, O., & Masko, J. (2010). The role of religiosity in stress, job attitudes, and organizational citizenship behavior. Journal of Business Ethics, 95, 319–337.Google Scholar
  83. Larkey, L. K. (1996). Toward a theory of communicative interactions in culturally diverse workgroups. Academy of Management Review, 21, 463–491.Google Scholar
  84. Leege, D., & Kellstedt, L. (1993). Rediscovering the religious factor in American politics. Armonk, NY: M.E. Sharpe.Google Scholar
  85. Leege, D. C., & Welch, M. R. (1989). Religious roots of political orientations. Journal of Politics, 51(1), 137–162.Google Scholar
  86. Manza, J., & Brooks, C. (1997). The religious factor in U.S. presidential elections, 1960-1992. The American Journal of Sociology, 103, 38–81.Google Scholar
  87. McCabe, D., & Trevino, L. (1993). Academic dishonesty: Honor codes and other contextual influences. Journal of Higher Education, 64(5), 523–538.Google Scholar
  88. McDaniel, S., & Burnett, J. (1990). Consumer religiosity and retail store evaluative criteria. Journal of the Academy of Marketing Science, 18, 101–112.Google Scholar
  89. McGuire, S., Newton, N., Omer, T., & Sharp, N. (2012b). Does local religiosity impact corporate social responsibility? Working paper.Google Scholar
  90. McGuire, S., Omer, T., & Sharp, N. (2012a). The impact of religion on financial reporting irregularities. Accounting Review (in press).Google Scholar
  91. McLeod, P. L., Lobel, S. A., & Cox, T. H. (1996). Ethnic diversity and creativity in small groups. Small Group Research, 27, 246–264.Google Scholar
  92. Melé, D. (2003). The challenge of humanistic management. Journal of Business Ethics, 44(1), 77–88.Google Scholar
  93. Melé, D. (2009). Integrating personalism into virtue-based business ethics: The personalist and the common good principles. Journal of Business Ethics, 88(1), 227–244.Google Scholar
  94. Melé, D. (2012a). The firm as a “Community of persons”: A pillar of humanistic business ethos. Journal of Business Ethics, 106(1), 89–101.Google Scholar
  95. Melé, D. (2012b). Management ethics: Placing ethics at the core of good management. Palgrave Macmillan.Google Scholar
  96. Micklethwait, J., & Wooldridge, A. (2009). God is Back. New York: Penguin Press.Google Scholar
  97. Mitchell, R. K., Agle, B. R., & Wood, D. J. (1997). Towards a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Academy of Management Review, 22(4), 853–886.Google Scholar
  98. Murnighan, J. K., & Conlon, D. J. (1991). The dynamics of intense work groups: A study of British string quartets. Administrative Science Quarterly, 36, 165–186.Google Scholar
  99. Nash, L. (1994). Believers in business. Nashville, TN: Thomas Nelson Publishers.Google Scholar
  100. Newport, F. (2011). Christianity remains dominant religion in the United States. Gallup. December 23.Google Scholar
  101. Noon, M. (2007). The fatal flaws of diversity and the business case for ethnic minorities. Work, Employment & Society, 21, 773–784.Google Scholar
  102. Online Etymology Dictionary. Retrieved 7 April 2012.Google Scholar
  103. O’Reilly, C. A., Caldwell, D. F., & Barnett, W. P. (1989). Work group demography, social integration, and turnover. Administrative Science Quarterly, 34, 21–37.Google Scholar
  104. Omer, T. C., Sharp, N. Y., & Wang, D. D. (2013). Do local religious norms affect auditors going concern decisions? Working paper.Google Scholar
  105. Oswick, C. (2011). The social construction of diversity, equality and inclusion: An exploration of academic and public discourses. In G. Healy, G. Kirton, & M. Noon (Eds.), Equality, inequalities and diversity: Contemporary challenges and strategies. New York: Palgrave Macmillan.Google Scholar
  106. Page, S. E. (2007). The difference: How the power of diversity creates better groups, firms, schools, and societies. Princeton, NJ: Princeton University Press.Google Scholar
  107. Patee, T., Milner, T., & Welch, M. (1994). Levels of social integration in group contexts and the effects of informal sanction threat on deviance. Criminology, 32, 85–106.Google Scholar
  108. Peccoud, D. (2004). Philosophical and spiritual perspectives on decent work. International Labour Org; illustrated edition.Google Scholar
  109. Pelled, L. H., Eisenhardt, K. M., & Xin, K. R. (1999). Exploring the black box: An analysis of work group diversity, conflict, and performance. Administrative Science Quarterly, 44, 1–28.Google Scholar
  110. Perrin, R. D. (2000). Religiosity and honesty: Continuing the search for the consequential dimension. Review of Religious Research, 41(4), 534–544.Google Scholar
  111. Pescosolido, B. (1990). The social context of religious integration and suicide. Sociological Quarterly, 31, 337–357.Google Scholar
  112. Rajan, R., & Wulf, J. (2006). Are perks purely managerial excess? Journal of Financial Economics, 79, 1–33.Google Scholar
  113. Regnerus, M. D. (2003). Moral communities and adolescent delinquency: Religious contexts and community social control. Sociological Quarterly, 44, 523–534.Google Scholar
  114. Regnerus, M. D., Sikkink, D., & Smith, C. (1999). Voting and the Christian right: Contextual and individual patterns of electoral influence. Social Forces, 77, 1375–1401.Google Scholar
  115. Richard, O. C. (2000). Racial diversity, business strategy, and firm performance: A resource-based view. Academy of Management Journal, 43(2), 164–177.Google Scholar
  116. Richard, O. C., McMillan, A., Chadwick, K., & Dwyer, S. (2003). Employing an innovation strategy in racially diverse workforces: Effects on firm performance. Group and Organization management, 28(1), 107–126.Google Scholar
  117. Roberson, Q. M., & Park, H. J. (2007). Examining the link between diversity and firm performance: The effects of diversity reputation and leader racial diversity. Group and Organization Management, 32(5), 548–568.Google Scholar
  118. Rohrbaugh, J., & Jessor, R. (1975). Religiosity in youth: A personal control against deviant behavior. Journal of Personality, 43, 136–155.Google Scholar
  119. Ross, S. (1973). The economy theory of the agency: The principal’s problem. American Economic Review, 63, 134–139.Google Scholar
  120. Sacco, J. M., & Schmitt, N. (2005). A dynamic multilevel model of demographic diversity and misfit effects. Journal of Applied Psychology, 90(2), 203–231.Google Scholar
  121. Schieman, S. (2011). Education and the importance of religion in decision-making: Do other dimensions of religiousness matter? Journal for the Scientific Study of Religion, 50(3), 570–587.Google Scholar
  122. Sharfman, M. P. (1996). The construct validity of the Kinder, Lydenberg and Domini social performance ratings data. Journal of Business Ethics, 15(3), 287–296.Google Scholar
  123. Shariff, A. F., & Norenzayan, A. (2007). God is watching you: Priming god concepts increases prosocial behavior in an anonymous economic game. Psychological Science, 18(9), 803–809.Google Scholar
  124. Shin, A. (2004). Foundations helps Sodexho counter discrimination suit. June 10. Washington Post.Google Scholar
  125. Simons, S. M., & Rowland, K. N. (2011). Diversity and its impact on organizational performance: The influence of diversity constructions on expectations and outcomes. Journal of Technology Management & Innovation, 6(3), 171–182.Google Scholar
  126. Sloane, D. M., & Potvin, R. H. (1986). Religion and delinquency: Cutting through the maze. Social Forces, 65(1), 87–105.Google Scholar
  127. Smith, T. W., Marsden, P. V., Hout, M., & Kim, J. (2012). General Social Surveys, 1972-2012. Chicago: National Opinion Research Center.Google Scholar
  128. Southern Baptist Convention. (1995). Resolution on racial reconciliation on the 150th anniversary of the southern baptist convention. Accessed May 17, 2013 at http://www.sbc.net/resolutions.
  129. Stack, S., & Kposowa, A. (2006). The effect of religiosity on tax fraud acceptability: A cross-national analysis. Journal for the Scientific Study of Religion, 45, 325–351.Google Scholar
  130. Stainback, K., & Tomaskovic-Devey, D. (2012). Documenting desegregation: Racial and gender segregation in private-sector employment since the civil-rights act. New York: Russell Sage Foundation.Google Scholar
  131. Stark, R. (1996). Religion as context: Hellfire and delinquency one more time. Sociology and Religion, 57, 163–173.Google Scholar
  132. Stark, R., Doyle, D. P., & Kent, L. (1980). Rediscovering moral communities. In T. Hirschi & M. Gottfredson (Eds.), Understanding crime (pp. 43–52). Beverly Hills, CA: Sage.Google Scholar
  133. Stark, R., Doyle, D. P., & Kent, L. (1982). Religion and delinquency. Journal of Research in Crime and Delinquency, 19, 2–24.Google Scholar
  134. Stulz, R. M., & Williamson, R. (2003). Culture, openness, and finance. Journal of Financial Economics, 70, 313–349.Google Scholar
  135. Thompson, J. M. (2010). Introducing catholic social thought. Maryknoll, NY: Orbis Books.Google Scholar
  136. Tsui, A. S., Egan, T. D., & O’Reilly, C. A. (1992). Being different: Relational demography and organizational attachment. Administrative Science Quarterly, 37, 549–579.Google Scholar
  137. Valentine, S., & Page, K. (2006). Nine to five: Skepticism of women’s employment and ethical reasoning. Journal of Business Ethics, 63(1), 53–61.Google Scholar
  138. Vatican Council II (1965) Pastoral Constitution on the Church in the Modern World. Accessed at: http://www.vatican.va/archive/hist_councils/ii_vatican_council/documents/vatii_const_19651207_gaudium-et-spes_en.html.
  139. Velasquez, M. (2012). Business ethics: Concepts and cases. Upper Saddle River, NJ: Pearson Education Inc.Google Scholar
  140. Vitell, S., Bing, M., Davison, H., Ammeter, A., Garner, B., & Novicevic, M. (2009). Religiosity and moral identity: The mediating role of self-control. Journal of Business Ethics, 88(4), 601–613.Google Scholar
  141. Wald, K. D., Owen, D. E., & Hill, S. S. (1988). Churches as political communities. American Political Science Review, 82(2), 531–548.Google Scholar
  142. Walker, G., & Pitts, R. (1998). Naturalistic conceptions of moral maturity. Developmental Psychology, 34, 403–419.Google Scholar
  143. Watson, W. E., Kumar, K., & Michaelsen, L. K. (1993). Cultural diversity’s impact on interaction process and performance: Comparing homogeneous and diverse task groups. Academy of Management Journal, 36, 590–602.Google Scholar
  144. Weaver, G., & Agle, B. (2002). Religiosity and ethical behavior in organizations: A symbolic interactionist perspective. Academy of Management Review, 27(1), 77–98.Google Scholar
  145. Webber, S. S., & Donahue, L. M. (2001). Impact of highly and less job-related diversity on work group cohesion and performance: A meta-analysis. Journal of Management, 27, 141–162.Google Scholar
  146. Weber, M. (2009 [1904]) The protestant ethic and the spirit of capitalism (Norton Critical Editions). (New York: W.W. Norton & Company).Google Scholar
  147. Welch, M., Tittle, C., & Grasmick, H. (2006). Christian religiosity, self-control and social conformity. Social Forces, 84(3), 1605–1623.Google Scholar
  148. Welch, M., Tittle, C., & Patee, T. (1991). Religion and deviance among adult Catholics: A test of the moral communities hypothesis. Journal for the Scientific Study of Religion, 30, 159–172.Google Scholar
  149. Wiersema, M. F., & Bird, A. (1993). Organizational demography in Japanese firms: Group heterogeneity, individual dissimilarity, and top management team turnover. Academy of Management Journal, 36, 996–1025.Google Scholar
  150. Wilburn, J. R. (2005). Capitalism beyond the ‘end of history’. In N. Capaldi (Ed.), Business and religion: A clash of civilizations? (pp. 171–181). Salem, MA: M & M Scrivener Press.Google Scholar
  151. Williams, K. Y., & O’Reilly, C. A. (1998). Demography and diversity in organizations: A review of 40 years of research. Research in Organizational Behavior, 20, 77–140.Google Scholar
  152. Winter, G. (2000). Coca-Cola settles racial bias case. The New York Times. November 17, 2000.Google Scholar
  153. Wintoki, M., Linck, J., & Netter, J. (2012). Endogeneity and the dynamics of internal corporate governance. Journal of Financial Economics (forthcoming).Google Scholar
  154. Yermack, D. (2006). Flights of fancy: Corporate jets, CEO perquisites, and inferior shareholder returns. Journal of Financial Economics, 80, 211–242.Google Scholar
  155. Zinbarg, E. (2001). Faith, morals, and money: What the world’s religions tell us about money in the marketplace. New York: Continuum International Publishing Group.Google Scholar

Copyright information

© Springer Science+Business Media Dordrecht 2013

Authors and Affiliations

  • Jinhua Cui
    • 2
  • Hoje Jo
    • 1
  • Haejung Na
    • 2
  • Manuel G. Velasquez
    • 1
  1. 1.Leavey School of BusinessSanta Clara UniversitySanta ClaraUSA
  2. 2.School of BusinessKorea UniversitySeoulKorea

Personalised recommendations