Corporate responses to shareholder activism: an institutional perspective

Kathleen Rehbein; Stephen Brammer; Jeanne M. Logsdon; Harry J. Van Buren

doi:10.5465/AMBPP.2009.44251839

Corporate responses to shareholder activism: an institutional perspective

Kathleen Rehbein^*, Stephen Brammer, Jeanne M. Logsdon, Harry J. Van Buren

^*Corresponding author for this work

Macquarie Business School

Research output: Chapter in Book/Report/Conference proceeding › Conference proceeding contribution › peer-review

1 Citation (Scopus)

Abstract

Research on how corporations respond to the filing of shareholder resolutions that seek social change has provided low levels of explanation and inconsistent results. This paper builds on previous research that has looked primarily at corporate governance and stakeholder atrributes by examining how institutional factors may have an impact on corporate responses. Our model develops hypotheses related to the influence of issue saliency, industry responsiveness, corporate social performance and corporate governance characterists on corporate responses to the demands of shareholder activists. The hypotheses are tested using social policy share resolutions from the period 2002 through 2005. The results signal some support for the importance for the incorporation of institutional factors. Industry reponses tend to pressure other corporate members to respond positively to the demands of shareholder activists.

Original language	English
Title of host publication	Academy of Management 2009 Annual Meeting: Green Management Matters, AOM 2009
Place of Publication	New York
Publisher	Academy of Management
Pages	1-6
Number of pages	6
DOIs	https://doi.org/10.5465/AMBPP.2009.44251839
Publication status	Published - 2009
Event	69th Annual Meeting of the Academy of Management, AOM 2009 - Chicago, IL, United States Duration: 7 Aug 2009 → 11 Aug 2009

Conference

Conference	69th Annual Meeting of the Academy of Management, AOM 2009
Country/Territory	United States
City	Chicago, IL
Period	7/08/09 → 11/08/09

Keywords

Activists
Corporate governance
Shareholder activism

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10.5465/AMBPP.2009.44251839

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title = "Corporate responses to shareholder activism: an institutional perspective",

abstract = "Research on how corporations respond to the filing of shareholder resolutions that seek social change has provided low levels of explanation and inconsistent results. This paper builds on previous research that has looked primarily at corporate governance and stakeholder atrributes by examining how institutional factors may have an impact on corporate responses. Our model develops hypotheses related to the influence of issue saliency, industry responsiveness, corporate social performance and corporate governance characterists on corporate responses to the demands of shareholder activists. The hypotheses are tested using social policy share resolutions from the period 2002 through 2005. The results signal some support for the importance for the incorporation of institutional factors. Industry reponses tend to pressure other corporate members to respond positively to the demands of shareholder activists.",

keywords = "Activists, Corporate governance, Shareholder activism",

author = "Kathleen Rehbein and Stephen Brammer and Logsdon, {Jeanne M.} and {Van Buren}, {Harry J.}",

year = "2009",

doi = "10.5465/AMBPP.2009.44251839",

language = "English",

pages = "1--6",

booktitle = "Academy of Management 2009 Annual Meeting: Green Management Matters, AOM 2009",

publisher = "Academy of Management",

address = "United States",

note = "69th Annual Meeting of the Academy of Management, AOM 2009 ; Conference date: 07-08-2009 Through 11-08-2009",

}

Rehbein, K, Brammer, S, Logsdon, JM & Van Buren, HJ 2009, Corporate responses to shareholder activism: an institutional perspective. in Academy of Management 2009 Annual Meeting: Green Management Matters, AOM 2009. Academy of Management, New York, pp. 1-6, 69th Annual Meeting of the Academy of Management, AOM 2009, Chicago, IL, United States, 7/08/09. https://doi.org/10.5465/AMBPP.2009.44251839

Corporate responses to shareholder activism: an institutional perspective. / Rehbein, Kathleen; Brammer, Stephen; Logsdon, Jeanne M. et al.
Academy of Management 2009 Annual Meeting: Green Management Matters, AOM 2009. New York: Academy of Management, 2009. p. 1-6.

Research output: Chapter in Book/Report/Conference proceeding › Conference proceeding contribution › peer-review

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T1 - Corporate responses to shareholder activism

T2 - 69th Annual Meeting of the Academy of Management, AOM 2009

AU - Rehbein, Kathleen

AU - Brammer, Stephen

AU - Logsdon, Jeanne M.

AU - Van Buren, Harry J.

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N2 - Research on how corporations respond to the filing of shareholder resolutions that seek social change has provided low levels of explanation and inconsistent results. This paper builds on previous research that has looked primarily at corporate governance and stakeholder atrributes by examining how institutional factors may have an impact on corporate responses. Our model develops hypotheses related to the influence of issue saliency, industry responsiveness, corporate social performance and corporate governance characterists on corporate responses to the demands of shareholder activists. The hypotheses are tested using social policy share resolutions from the period 2002 through 2005. The results signal some support for the importance for the incorporation of institutional factors. Industry reponses tend to pressure other corporate members to respond positively to the demands of shareholder activists.

AB - Research on how corporations respond to the filing of shareholder resolutions that seek social change has provided low levels of explanation and inconsistent results. This paper builds on previous research that has looked primarily at corporate governance and stakeholder atrributes by examining how institutional factors may have an impact on corporate responses. Our model develops hypotheses related to the influence of issue saliency, industry responsiveness, corporate social performance and corporate governance characterists on corporate responses to the demands of shareholder activists. The hypotheses are tested using social policy share resolutions from the period 2002 through 2005. The results signal some support for the importance for the incorporation of institutional factors. Industry reponses tend to pressure other corporate members to respond positively to the demands of shareholder activists.

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KW - Shareholder activism

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BT - Academy of Management 2009 Annual Meeting: Green Management Matters, AOM 2009

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CY - New York

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ER -

Corporate responses to shareholder activism: an institutional perspective

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Keywords

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