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1 – 10 of over 1000Carine Girard and Stephen Gates
This paper aims to demonstrate that state shareholders are confronted with contradictory logics leading to institutional contradictions that activist shareholders can exploit. The…
Abstract
Purpose
This paper aims to demonstrate that state shareholders are confronted with contradictory logics leading to institutional contradictions that activist shareholders can exploit. The competing logics of the state as shareholder and their impact on corporate governance and shareholder activism offer fertile grounds for research advances in Coordinated Market Economies (CMEs).
Design/methodology/approach
Through an extensive literature review of state ownership, institutional contradictions and shareholder activism, this paper analyzes two case studies involving the French State as shareholder.
Findings
In the French context, these two cases illustrate how institutional contradictions result in opportunities for shareholder activism. By focusing on the institutional contradictions of the state shareholder, this investigation suggests a need for experimental research to observe how shareholder activists adapt to each institutional change in CMEs. This experimentation can help policymakers to avoid creating additional conditions that shareholder activists can exploit.
Research limitations/implications
This focuses only on France and its state shareholdings. To generalize results, studies of other CMEs and state shareholders are needed.
Practical implications
Policymakers should consider all legislative proposals for their potential to deviate from corporate governance practice by experimenting with them in a laboratory setting. Shareholder activists can compare state shareholders’ actions against the state’s legislation to emphasize institutional contradictions that counter minority shareholders’ rights.
Originality/value
This research is the first to analyze how the state as shareholder can exploit its competing logics to resist against shareholder activism and support management or to become itself a shareholder activist.
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David Folsom, Iftekhar Hasan, Yinjie (Victor) Shen and Fuzhao Zhou
The aim of the paper is to investigate the associations between hedge fund activism and corporate internal control weaknesses.
Abstract
Purpose
The aim of the paper is to investigate the associations between hedge fund activism and corporate internal control weaknesses.
Design/methodology/approach
In this paper, the authors identify hedge fund activism events using 13D filings and news search. After matching with internal control related information from Audit Analytics, the authors utilize ordinary least square (OLS) and propensity score matching (PSM) to analyze the data.
Findings
The authors find that after hedge fund activism, target firms report additional internal control weaknesses, and these identified internal control weaknesses are remediated in subsequent years, leading to better financial-reporting quality.
Originality/value
The findings indicate that both managers and activists have incentives to develop a stronger internal control environment after targeting.
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Essi Pöyry and Salla-Maaria Laaksonen
In brand activism, a brand promotes contested sociopolitical causes to highlight its values. Brand activism also alienates those consumers who disagree with the cause, who might…
Abstract
Purpose
In brand activism, a brand promotes contested sociopolitical causes to highlight its values. Brand activism also alienates those consumers who disagree with the cause, who might, consequently, target the brand with critical, negative or even aggressive actions. This paper aims to study the triggers and strategies of consumers’ antibrand actions given in response to brand activism.
Design/methodology/approach
Qualitative content analysis and multiple correspondence analysis were used to study consumer responses directed at a chocolate brand’s campaign that advocated civilized online conversions and opposed hate speech, a politically heated topic. In total, 1,615 messages were collected from social media platforms.
Findings
Field infringement, political accusations and questioned impact of the campaign triggered consumers to turn against the campaign. Strategies to undermine it included boycotting, discrediting the brand and trapping. Trapping – creatively using technological affordances to create harm to the brand – was typically triggered by political associations.
Research limitations/implications
Findings relate to the critical responses regarding one campaign only.
Practical implications
By understanding the political discussion around the chosen cause, including the opponents’ typical triggers and strategies, brand activism can more credibly advocate for contested social causes and communicate brand values.
Originality/value
Political antibrand actions are distinct from the previously identified functional and ethical antibrand actions, and they are noninstrumental by nature. Practices that are native to social media are central to political antibrand actions, and social media platforms contribute to how such disappointment is articulated and acted upon.
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Ana Almansa-Martínez, Sara López-Gómez and Antonio Castillo-Esparcia
This paper aims to find out if there is a relationship between access to climate change information and student activism.
Abstract
Purpose
This paper aims to find out if there is a relationship between access to climate change information and student activism.
Design/methodology/approach
Exploratory study focused on the survey of 400 [n = 400] students from 10 universities in Spain from April to May 2022. A questionnaire with 19 questions was divided into blocks of knowledge, awareness, and action and bivariate analysis with a margin of error of ±5% and a confidence level of 95%.
Findings
The greater the degree of information received, the greater the activism of university students, who tend to use digital media and social networks to get informed. However, they perceive that the university generates little information and a low number of activities related to climate change. Students demand that universities implement informal, formal, and service-learning environmental education strategies on sustainable consumption.
Research limitations/implications
Given the results of previous studies showing the variable “type of degree” does not show differences at the beginning and end of studies, it has not been considered in this research. Nevertheless, it would be convenient to introduce it in future investigations to confirm if this may have an impact on informational habits.
Practical implications
This paper urges universities to act as sources of environmental education, given the relationship between the information received and the pro-environmental attitudes of students.
Social implications
The universities are powerful social actors that can shape public and political discourses for eco-social transition.
Originality/value
This research adds the variable access to information in studies on pro-environmental attitudes. Furthermore, this research provides data about student perceptions of the university, government, industry, and NGO climate actions.
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