3.3. Making the List
Business needs a reputation system to rival eBay's ratings of sellers or any major university's student ratings of professors. Indeed, a key part of the diversity game for any CEO is landing on the coveted "Best of . . ." lists, the annual rankings by Fortune magazine, along with Working Mother, Black Enterprise, and Essence magazines. In one 2003 study entitled "Shareholder Benefits of Diversity," the researchers noted that companies featured in Fortune magazine's former "50 Diversity Elite" (discontinued in 2002) average a threeday abnormal cumulative return of 1.57 percent around the Fortune publication date (Keys et al. 2003). Yes, good diversity press can boost stock prices, but that says nothing about whether there ...
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