Does workforce diversity matter on corporate venturing?

Abstract

Ongoing academic debates demand a better understanding of the effect of workforce diversity (not only top managers) on unexplored outcomes (not only financial performance). We proposed/tested a conceptual model that theorizes the moderate role of workforce demographics on corporate venturing drivers by adopting different theoretical perspectives. Using a sample of 17217 employees across 20 countries, our findings highlight that women and migrant workers contribute to corporate venturing by identifying business opportunities (exploration experiences) and taking advantage of their intellectual capital (human capital and social capital). Several implications for leaders who manage a diversified workforce emerge from this study.