Keshab Acharya, Michael A. Abebe, Mark Kroll, Guadalupe Solano
{"title":"高管讲坛:社会运动后首席执行官社会政治活动的驱动力","authors":"Keshab Acharya, Michael A. Abebe, Mark Kroll, Guadalupe Solano","doi":"10.1111/corg.12613","DOIUrl":null,"url":null,"abstract":"Research Question/IssueCEO sociopolitical activism seems to be on the rise in response to prominent social movements around social justice (e.g., Black Lives Matter), gender equality (e.g., #MeToo movement), and climate change (e.g., People's Climate Movement), to name a few. Engaging in such activism could be risky for executives, given its potential to appease some stakeholders while alienating others. This begs the question: Why do some CEOs become sociopolitical activists while others remain on the “sidelines”? This study addresses this question by exploring the notion of the executive “bully pulpit” and how CEOs leverage their status and reputation to publicly engage in sociopolitical activism.Research Findings/InsightsDrawing from the status and reputation literature, we explore the effect of CEO power, CEO celebrity status, and firm reputation as predictors of CEO sociopolitical activism. In doing so, we focus on the “bully pulpit” explanation by arguing that powerful, high‐status CEOs and those who lead firms with good reputations are more likely to use their professional position and visibility to advocate for or against controversial sociopolitical issues. Our analysis of CEO sociopolitical activism data from 246 matched‐pair S&P 500 firms from 2007 to 2020 largely supports our arguments, though we find there is an important interaction between firm reputation and both CEO power and celebrity.Theoretical/Academic ImplicationsThis study extends current research insights by highlighting how power, status, and reputation at the CEO and firm levels create a formidable platform (a “bully pulpit”) from which executive sociopolitical activism is exercised. Given its nascent nature, scholars are just beginning to empirically explore the consequences of CEO sociopolitical activism. This study contributes to ongoing work in this area by providing empirical evidence on the nature and drivers of CEO sociopolitical activism.Practitioner/Policy ImplicationsFirms seeking to play a more proactive role in contemporary sociopolitical issues need to consider hiring high‐profile CEOs. Additionally, highly reputed firms are well‐positioned to support their CEOs' efforts in influencing societal debates on controversial issues.","PeriodicalId":48209,"journal":{"name":"Corporate Governance-An International Review","volume":"25 1","pages":""},"PeriodicalIF":4.6000,"publicationDate":"2024-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The Executive Bully Pulpit: Drivers of CEO Sociopolitical Activism in the Wake of Social Movements\",\"authors\":\"Keshab Acharya, Michael A. Abebe, Mark Kroll, Guadalupe Solano\",\"doi\":\"10.1111/corg.12613\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Research Question/IssueCEO sociopolitical activism seems to be on the rise in response to prominent social movements around social justice (e.g., Black Lives Matter), gender equality (e.g., #MeToo movement), and climate change (e.g., People's Climate Movement), to name a few. Engaging in such activism could be risky for executives, given its potential to appease some stakeholders while alienating others. This begs the question: Why do some CEOs become sociopolitical activists while others remain on the “sidelines”? This study addresses this question by exploring the notion of the executive “bully pulpit” and how CEOs leverage their status and reputation to publicly engage in sociopolitical activism.Research Findings/InsightsDrawing from the status and reputation literature, we explore the effect of CEO power, CEO celebrity status, and firm reputation as predictors of CEO sociopolitical activism. In doing so, we focus on the “bully pulpit” explanation by arguing that powerful, high‐status CEOs and those who lead firms with good reputations are more likely to use their professional position and visibility to advocate for or against controversial sociopolitical issues. Our analysis of CEO sociopolitical activism data from 246 matched‐pair S&P 500 firms from 2007 to 2020 largely supports our arguments, though we find there is an important interaction between firm reputation and both CEO power and celebrity.Theoretical/Academic ImplicationsThis study extends current research insights by highlighting how power, status, and reputation at the CEO and firm levels create a formidable platform (a “bully pulpit”) from which executive sociopolitical activism is exercised. Given its nascent nature, scholars are just beginning to empirically explore the consequences of CEO sociopolitical activism. This study contributes to ongoing work in this area by providing empirical evidence on the nature and drivers of CEO sociopolitical activism.Practitioner/Policy ImplicationsFirms seeking to play a more proactive role in contemporary sociopolitical issues need to consider hiring high‐profile CEOs. 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The Executive Bully Pulpit: Drivers of CEO Sociopolitical Activism in the Wake of Social Movements
Research Question/IssueCEO sociopolitical activism seems to be on the rise in response to prominent social movements around social justice (e.g., Black Lives Matter), gender equality (e.g., #MeToo movement), and climate change (e.g., People's Climate Movement), to name a few. Engaging in such activism could be risky for executives, given its potential to appease some stakeholders while alienating others. This begs the question: Why do some CEOs become sociopolitical activists while others remain on the “sidelines”? This study addresses this question by exploring the notion of the executive “bully pulpit” and how CEOs leverage their status and reputation to publicly engage in sociopolitical activism.Research Findings/InsightsDrawing from the status and reputation literature, we explore the effect of CEO power, CEO celebrity status, and firm reputation as predictors of CEO sociopolitical activism. In doing so, we focus on the “bully pulpit” explanation by arguing that powerful, high‐status CEOs and those who lead firms with good reputations are more likely to use their professional position and visibility to advocate for or against controversial sociopolitical issues. Our analysis of CEO sociopolitical activism data from 246 matched‐pair S&P 500 firms from 2007 to 2020 largely supports our arguments, though we find there is an important interaction between firm reputation and both CEO power and celebrity.Theoretical/Academic ImplicationsThis study extends current research insights by highlighting how power, status, and reputation at the CEO and firm levels create a formidable platform (a “bully pulpit”) from which executive sociopolitical activism is exercised. Given its nascent nature, scholars are just beginning to empirically explore the consequences of CEO sociopolitical activism. This study contributes to ongoing work in this area by providing empirical evidence on the nature and drivers of CEO sociopolitical activism.Practitioner/Policy ImplicationsFirms seeking to play a more proactive role in contemporary sociopolitical issues need to consider hiring high‐profile CEOs. Additionally, highly reputed firms are well‐positioned to support their CEOs' efforts in influencing societal debates on controversial issues.
期刊介绍:
The mission of Corporate Governance: An International Review is to publish cutting-edge international business research on the phenomena of comparative corporate governance throughout the global economy. Our ultimate goal is a rigorous and relevant global theory of corporate governance. We define corporate governance broadly as the exercise of power over corporate entities so as to increase the value provided to the organization"s various stakeholders, as well as making those stakeholders accountable for acting responsibly with regard to the protection, generation, and distribution of wealth invested in the firm. Because of this broad conceptualization, a wide variety of academic disciplines can contribute to our understanding.