Article2017

Unleashing the Power of Networks: Shareholder Activism, Sustainable Development and Corporate Environmental Policy

69 citations0/0 files storedBusiness Strategy and the Environment

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Corporate Social Responsibility Reporting Corporate Finance and Governance Political Influence and Corporate Strategies

Abstract

Abstract In recent years, a new trend has emerged in which shareholder activists have formed networks to empower shareholders and magnify shareholder voices. This study explores the structural patterns and effectiveness of shareholder activism networks and shows how those networks affect corporate sustainability policies. We draw upon stakeholder influence theory, stakeholder network management theory and recent studies on activism networks to examine a shareholder activism network formed around environmental issues. The study found that (1) the structure of shareholder activist networks is largely driven by organizational attributes such as organization type, organizations’ human resources, media visibility and history; and (2) activist organizations with high centralities and eigenvector centralities enjoy more efficient results. This study contributes to our understanding of the business responses to shareholder demands on improving environmental performance and paves the way for future research on sustainable development through partnerships with shareholder networks. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment

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References

2010Strategic management a stakeholder approach 1997Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of who and What Really Counts 1995The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications 1996The Sources and Consequences of Embeddedness for the Economic Performance of Organizations: The Network Effect 1995The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications 1987Power and Centrality: A Family of Measures 1997Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts 1998Alliances and networks

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