Social movements and corporate political activity: Managerial responses to socially oriented shareholder activism

Firms increasingly face socially oriented shareholder activists who seek to influence corporate policies and practices on a variety of issues. While extant scholarship acknowledges that firms can rebuff such external pressures, there is limited understanding of why they do so. Drawing on corporate political activity (CPA) and social activism scholarship, we hypothesize that politically active firms are more likely to fight such pressures and...