Jose Miguel Abito, David Besanko, and Daniel Diermeier argue that harm to a firm's reputation is one of the strongest and most practical tools of contemporary corporate activism and explains the numerous campaigns as well as the response of companies. Through a straightforward dynamic model focusing on the interaction of the firm and activists, the authors show how both the firm's existing reputation and various activist tactics influence actions and outcomes of both the firm and the activists.
Jose Miguel Abito, David Besanko, and Daniel Diermeier argue that harm to a firm's reputation is one of the strongest and most practical tools of contemporary corporate activism and explains the numerous campaigns as well as the response of companies. Through a straightforward dynamic model focusing on the interaction of the firm and activists, the authors show how both the firm's existing reputation and various activist tactics influence actions and outcomes of both the firm and the activists.Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
Jose Miguel Abito is Assistant Professor of Business Economics & Public Policy at the Wharton School at the University of Pennsylvania. David Besanko is IBM Professor of Regulation & Competitive Practices at the Kellogg School of Management at Northwestern University. His work has appeared in the Econometrica, American Economic Review, Quarterly Journal of Economics, Review of Economic Studies, RAND Journal of Economics, and the Journal of Law and Economics. Daniel Diermeier serves as the thirteenth Provost of the University of Chicago, where he is the David Lee Shillinglaw Distinguished Service Professor at the Harris School Public Policy and the College. He is a fellow of the American Academy of Arts and Sciences, the Guggenheim Foundation, and the Canadian Institute of Advanced Research (CIFAR).
Inhaltsangabe
1 An Introduction to Corporate Campaigns 1.1 Corporate campaigns 1.2 Firm strategies 1.3 The consequences of corporate campaigns 1.4 Private politics and corporate social responsibility 1.5 Overview 2 A Dynamic Model of Corporate Campaigns 2.1 The model 2.2 Equilibrium analysis 2.3 Empirical implications 2.4 Conclusions 2.5 Appendix to Chapter 2 3 Campaign Tactics 3.1 The model 3.2 Equilibrium analysis: preliminaries 3.3 Computational approach 3.4 Equilibrium analysis: characterization of equilibrium 3.5 Rewards as a campaign tactic 3.6 Empirical Implications 3.7 Conclusions 3.8 Appendix to Chapter 3 4 Do Activist Campaigns Bene.t Society? 4.1 The welfare economics of campaigns 4.2 Applications of model insights 4.3 Is passion socially valuable? 4.4 Conclusions 4.5 Appendix to Chapter 4 5 Target Selection by Activists and the Structure of Competition 5.1 Model set-up and preliminary analysis 5.2 Targeting firms in different industries 5.3 Targeting firms in the same industry 5.4 Industry-wide campaigns or firm-speci.c campaigns? 5.5 Empirical Implications 5.6 Appendix to Chapter 5 6 Conclusions: What Have We Learned? 6.1 Summary 6.2 Lessons for scholars and practitioners 6.3 Where do we go from here?
1 An Introduction to Corporate Campaigns 1.1 Corporate campaigns 1.2 Firm strategies 1.3 The consequences of corporate campaigns 1.4 Private politics and corporate social responsibility 1.5 Overview 2 A Dynamic Model of Corporate Campaigns 2.1 The model 2.2 Equilibrium analysis 2.3 Empirical implications 2.4 Conclusions 2.5 Appendix to Chapter 2 3 Campaign Tactics 3.1 The model 3.2 Equilibrium analysis: preliminaries 3.3 Computational approach 3.4 Equilibrium analysis: characterization of equilibrium 3.5 Rewards as a campaign tactic 3.6 Empirical Implications 3.7 Conclusions 3.8 Appendix to Chapter 3 4 Do Activist Campaigns Bene.t Society? 4.1 The welfare economics of campaigns 4.2 Applications of model insights 4.3 Is passion socially valuable? 4.4 Conclusions 4.5 Appendix to Chapter 4 5 Target Selection by Activists and the Structure of Competition 5.1 Model set-up and preliminary analysis 5.2 Targeting firms in different industries 5.3 Targeting firms in the same industry 5.4 Industry-wide campaigns or firm-speci.c campaigns? 5.5 Empirical Implications 5.6 Appendix to Chapter 5 6 Conclusions: What Have We Learned? 6.1 Summary 6.2 Lessons for scholars and practitioners 6.3 Where do we go from here?
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