Understanding Shareholder Activism: Which Corporations are Targeted?

This study provides preliminary empirical evidence that shareholder activists target companies because of their size as well as specific stakeholder-related practices. The data show that shareholder activists target companies with shareholder resolutions demanding changes in corporate behaviors for...

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Bibliographic Details
Published in:Business & society 2004-09, Vol.43 (3), p.239-267
Main Authors: Rehbein, Kathleen, Waddock, Sandra, Graves, Samuel B.
Format: Article
Language:English
Subjects:
Activism
Activists
Business enterprises
Corporations
Correlation analysis
Economic sociology
Employees
General studies. Economic systems
Interest Groups
NGOs
Nongovernmental organizations
Organizational behavior
Organizational Change
Proxy statements
Shareholder activism
Social activism
Social aspects
Social impact
Social Policy
Social Responsibility
Social responsibility of business
Sociology
Sociology of economy and development
Stakeholders
Stockholders
Studies
United States
Voting
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Summary:This study provides preliminary empirical evidence that shareholder activists target companies because of their size as well as specific stakeholder-related practices. The data show that shareholder activists target companies with shareholder resolutions demanding changes in corporate behaviors for companies producing problematic products and where environmental concerns exist. Furthermore, companies in specific industries are targeted based on poor employee and community-related practices. Activists, that is, are selective in their targeting of companies, choosing the most visible (largest) companies and those whose practices raise specific issues of interest to society.
ISSN:0007-6503
1552-4205
DOI:10.1177/0007650304266869