Paper Title
Do Words in U.S. 10-K Filings Reflect Diversity and Inclusion Efforts?

Abstract
Studies have examined the impact of diversity on firm operations and performance. Diversity has become a value encouraged by society and a major strategy and goal for many companies. This study examines the number of unique diversity words mentioned in Management’s Discussion and Analysis, Item 7 of 10-Ks filed with the Securities and Exchange Commission of the U.S. We examine if the unique number of diversity related words mentioned in the 10-Ks can provide a measure of a company’s commitment to diversity by comparing the diversity word count to measures of diversity provided by independent outside organizations. The unique diversity word counts from Item 7 are significantly correlated with diversity measures/ratings constructed by outside entities. Keywords - 10-K filings, Corporate Equality Index, Diversity and Inclusion.