Sampling 231 work-family initiatives announced in the Wall Street Journal, this study examines the relationship between work-family human resource decisions and share price reaction. Consistent with past research, the results suggest that firm announcements of work-family initiatives positively affect shareholder return. In addition, we find that timing influences the relationship in three scenarios. First, pioneers of work-family initiatives generate larger share price reactions than later adopters of the same initiative. Second, the first work-family announcement a firm releases influences share price reaction more than successive work-family announcements by the same firm. Third, share price reactions to work-family human resource decisions following gender discrimination suits or lack thereof vary based on the time period examined. The results and implications of the research are discussed.