Through the Mud or in the Boardroom: Examining Activist Types and their Strategies in Targeting Firms for Social Change

The purpose of this study was to examine how different types of activist groups behave differently when targeting firms for social change. We find that traditional activist groups rely on boycotts and protests, whereas religious groups and activist investors rely more on lawsuits and proxy votes. Additionally, we find that protests and boycotts are associated with greater media attention, whereas lawsuits and proxy votes are associated with investor perceptions of risk .

Published Date
20 May 2025

Written By
Chuck Eesley, Katherine A. Decelles, Michael Lenox

Article Type
Journal Article Video Abstract

Topics
Stakeholder Strategy

Interest Group
Stakeholder Strategy IG

Content Source
Strategic Management Journal