We analyze the role of institutional founding conditions and institutional legacy for universities' self-representation in terms of diversity. Based on 374 universities located in the Czech Republic, France, Germany, Hungary, Italy, and Poland, we can differentiate between a more idealistic understanding (logic of inclusion and equality) and a more market-oriented understanding (market logic) of diversity. Our findings show that the founding phase has no significant effect on the likelihood of a university focusing on a market-oriented understanding of diversity--however, we observe an imprinting effect with respect to the adoption of a diversity statement in general and an equity-oriented statement. Moreover, our findings show that there is a socialistic heritage for universities in Central and Eastern European (CEE) countries that is at work and still influences universities' understandings of diversity today.