Do CEO Activists Make a Difference? Evidence from a Field Experiment

Citation data:

SSRN Electronic Journal

Publication Year:
2018
Usage 6808
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SSRN
SSRN Id:
2742209
DOI:
10.2139/ssrn.2742209
Author(s):
Chatterji, Aaron ; Toffel, Michael W.
Publisher(s):
Elsevier BV
Tags:
business and society; corporate social policy; leadership; social activism; values
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article description
CEO activism refers to corporate leaders speaking out on social and environmental policy issues not directly related to their company’s core business. Distinct from nonmarket strategy and traditional corporate social responsibility, the recent wave of CEO activism focuses on social issues unrelated to their core business, ranging from environmental issues to LGBT rights and race relations. In the first study of this phenomenon, we implement two field experiments to provide evidence on how CEO activism can influence public opinions about government policies and consumer attitudes about the CEO’s company.