McKinsy & Company, February 2015

https://www.mckinsey.com/business-functions/organization/our-insights/why-diversity-matters#

This research finds that companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians. Companies in the bottom quartile in these dimensions are statistically less likely to achieve above-average returns. This suggests that diversity is probably a competitive differentiator that shifts market share toward more diverse companies over time.

The authors of report examined proprietary data sets for 366 public companies across a range of industries in Canada, Latin America, the United Kingdom, and the United States. In this research, we looked at metrics such as financial results and the composition of top management and boards. Among the findings published in the report:  Companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians. Companies in the top quartile for gender diversity are 15 percent more likely to have financial returns above their respective national industry medians (exhibit).