The DOI matches its Crossref record; 9 of the 9 references it cites were found in a registry or an index.
Social Movements as Extra-Institutional Entrepreneurs: The Effect of Protests on Stock Price Returns
Abstract
This paper uses social movement theory to examine one way in which secondary stakeholders outside the corporation may influence organizational processes, even if they are excluded from participating in legitimate channels of organizational change. Using data on activist protests of U.S. corporations during 1962–1990, we examine the effect of protests on abnormal stock price returns, an indicator of investors' reactions to a focal event. Empirical analysis demonstrates that protests are more influential when they target issues dealing with critical stakeholder groups, such as labor or consumers, and when generating greater media coverage. Corporate targets are less vulnerable to protest when the media has given substantial coverage to the firm prior to the protest event. Past media attention provides alternative information to investors that may contradict the messages broadcast by protestors.
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Cites
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“Other protests, such as demonstrations not occurring on the property of the company, do not necessarily impose costs, but they draw attention 416/ASQ, September 2007 to existing stakeholder concerns and may cause investors to question the firm’s managerial soundness (Oliver, 1992).”
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“…organizations collaborate to sponsor a protest, they draw on a larger resource base, which allows them to coordinate more effectively every aspect of the event (Gamson, 1990; Skocpol et al., 1993; Minkoff, 1997, 1999; Soule et al., 1999; Cress and Snow, 2000; Andrews, 2001; Van Dyke, 2003).”
BackgroundThe Effects of Advertiser Reputation and Extremity of Advertising Claim on Advertising Effectiveness
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ORGANIZATIONAL PERCEPTION MANAGEMENT
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Cited by
Institutional Complexity and Organizational Responses
Greenwood, R., Raynard, M., Kodeih, F., Micelotta, E. R., & Lounsbury, M. (2011) · Academy of Management Annals · doi:10.5465/19416520.2011.590299 · Cited by 3,519
Responding to public and private politics: corporate disclosure of climate change strategies
Reid, E. M., & Toffel, M. W. (2009) · Strategic Management Journal · doi:10.1002/smj.796 · Cited by 1,093
Keeping up Appearances: Reputational Threat and Impression Management after Social Movement Boycotts
McDonnell, M.-H., & King, B. (2013) · Administrative Science Quarterly · doi:10.1177/0001839213500032 · Cited by 618
Self-citationSpinning gold: The financial returns to stakeholder engagement
Henisz, W. J., Dorobantu, S., & Nartey, L. J. (2014) · Strategic Management Journal · doi:10.1002/smj.2180 · Cited by 546
Social media and the formation of organizational reputation
Etter, M., Ravasi, D., & Colleoni, E. (2019) · Academy of Management Review · doi:10.5465/amr.2014.0280 · Cited by 428
Strategic Silence: Withholding Certification Status as a Hypocrisy Avoidance Tactic
Carlos, W. C., & Lewis, B. W. (2018) · Administrative Science Quarterly · doi:10.1177/0001839217695089 · Cited by 393
McDonnell, M.-H., King, B. G., & Soule, S. A. (2015) · American Sociological Review · doi:10.1177/0003122415581335 · Cited by 307
Self-citationVasi, I. B., & King, B. G. (2012) · American Sociological Review · doi:10.1177/0003122412448796 · Cited by 286
Self-citationTrouble in Store: Probes, Protests, and Store Openings by Wal‐Mart, 1998–2007
Ingram, P., Yue, L. Q., & Rao, H. (2010) · American Journal of Sociology · doi:10.1086/653596 · Cited by 268
Leadership, Membership, and Voice: Civic Associations That Work
Andrews, K. T., Ganz, M., Baggetta, M., Han, H., & Lim, C. (2010) · American Journal of Sociology · doi:10.1086/649060 · Cited by 215
Movements, Markets and Fields: The Effects of Anti-Sweatshop Campaigns on U.S. Firms, 1993-2000
Bartley, T., & Child, C. (2011) · Social Forces · doi:10.1093/sf/sor010 · Cited by 185
(2011) · Social Problems · doi:10.1525/sp.2011.58.4.491 · Cited by 129
Self-citationLee, M.-D. P., & Lounsbury, M. (2011) · Business & Society · doi:10.1177/0007650310394640 · Cited by 113
Abortion Politics, Mass Media, and Social Movements in America
Rohlinger, D. A. (2014) · doi:10.1017/cbo9781107706583 · Cited by 58
Metadata
- Authors
- King, B. G., & Soule, S. A.
- Venue
- Administrative Science Quarterly
- Publisher
- SAGE Publications
- Published
- 2007-09
- Volume
- 52
- Issue
- 3
- Pages
- 413-442
- ISSN
- 0001-8392 (ISSN-L)
- 1930-3815
- OpenAlex
- W2151817029
- Cited by
- 729
- References
- 9
- FWCI
- 43.97
- Type
- journal article
- Language
- en
- Open access
- closed
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