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Paper Stats:
Abstract Views: 131
Downloads: 35
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Good Business: A Market-Based Argument for Law Firm Diversity
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ERIC S. NGUYEN
Harvard Law School
DOUGLAS BRAYLEY
Harvard Law School
May 21, 2008
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Abstract:
When advocates for increased diversity have argued that law firms ought to improve their hiring and retention of minority lawyers, they have typically made rights-based arguments. More recently, some advocates have suggested that firms can further their own business interests by promoting diversity. There has, however, been little empirical evidence that diversity is actually good for law firms' business. This Article provides data showing that highly diverse law firms generate greater revenue per lawyer and turn higher profits per partner, even after controlling for location, firm size, and hours worked. As clients continue to demand diverse representation from their firms, and as private interest groups increase pressure on firms to hire more minorities, the link between diversity and profitability may grow stronger. In this instance, moral instincts held by some align with market instincts held by others. Commentators may debate whether diversity is an abstract good in itself, but the data strongly suggest that it is good for business.
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Keywords: Diversity, Legal Profession, Law Firm, Law Firm Profits, Discrimination
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JEL Classifications: M51, L21, J44, J70, K49
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Working Paper Series
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Suggested Citation
Nguyen, Eric S. and Brayley, Douglas, "Good Business: A Market-Based Argument for Law Firm Diversity"
(May 21, 2008).
Available at SSRN: http://ssrn.com/abstract=1124224
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Contact Information for
ERIC
S.
NGUYEN
(Contact Author)
Email address for ERIC
S.
NGUYEN
Harvard Law School
1575 Massachusetts
Hauser 406
Cambridge
, MA
02138
United States
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Contact Information for
DOUGLAS
BRAYLEY
Email address for DOUGLAS
BRAYLEY
Harvard Law School
1575 Massachusetts
Hauser 406
Cambridge
, MA
02138
United States
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Apr 23, 2008 |
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