This empirical study examines corporate responses to activist shareholder groups filing social-policy shareholder resolutions. Using resource dependency theory as our conceptual framing, we identify some of the drivers of corporate responses to shareholder activists. This study departs from previous studies by including a fourth possible corporate response, engaging in dialogue. Dialogue, an alternative to shareholder resolutions filed by activists, is a process in which corporations and activist shareholder groups mutually agree to engage in ongoing negotiations to deal with social issues. (...) Based on a unique dataset of resolutions filed by member organizations of the Interfaith Center on Corporate Responsibility from 2002 to 2005 and the outcomes of these resolutions, our analysis finds that corporate managers are more likely to engage in dialogue with shareholder activists when the firm is larger, is more responsive to stakeholders, the CEO is the board chair, and the firm has a relatively lower percentage of institutional investors. (shrink)

This study tests an integrative model of corporate political action, the filter model, based on the behavioral theory of the firm. The filter model posits that external political, economic, and industry environments are mediated by organizational structures and resources to affect a firm’s political actions. The authors rate the filter model’s predictive power against that of an economic-based direct-effects model by examining the efforts of about 1,100 U.S.-domiciled manufacturing firms to influence trade policy. LISREL analysis demonstrates that the integrative filter (...) model provides a superior explanation of corporate political action. (shrink)

The objective of this study is to evaluate empirically a firm’s political relationships with elected officials. A general premise is that firms with certaincharacteristics are in a better position for developing political relationships and gaining benefits from these relationships. We draw upon the resource dependency, resource based, and political strategy choice literatures to consider certain factors that lead firms to seek political relationships with elected officials. We test a model drawing upon measures from each of these areas on a sample (...) of large companies with U.S. operations. (shrink)

This paper contains a short outline of the rationale behind a workshop aimed at seeking connections between corporate social responsibility and corporate political activity. Two ‘provocateurs’ gave their view on these connections. After this kick-off two groups of ~10 persons each engaged in lively discussions on these connections, identifying a range of issues for further research and an interest in keeping this issue on the agenda.

This study contributes simultaneously to research on women board members and competitive dynamics by investigating two unresolved research questions: What is the effect of female directors on the firm’s competitive repertoire? Under what conditions is this effect more pronounced? Leveraging the “Awareness-Motivation-Capability” (AMC) framework, we predict that having women on the board of directors should impact the complexity, heterogeneity, and volume of the firm’s competitive moves. Relying upon a sample of U.S. pharmaceutical firms for the years 2000 to 2017, we (...) find that adding female directors on the board positively affects the complexity and volume of a firm’s competitive moves, but negatively impacts the heterogeneity of competitive actions. In addition, the presence of a female CEO moderates these effects, leading to more complex competitive actions and increased volume. Thus, our study lends a greater understanding of how female board members influence competitive dynamics and shape the strategic direction of the firm. (shrink)

This Special Issue commemorates the 60th anniversary of Business & Society with nine rigorous literature reviews that address important societal problems and provide opportunities for theory development in the business and society field; in this introduction we present an overview of the Special Issue. With the theme “Building on Its Past,” the nine articles address a host of contemporary issues, including climate change, wicked problems, business and human rights, human health, certifications standards, the governance of artificial intelligence, stakeholder engagement, stakeholder (...) theory, and corporate political activity. Together, these reviews offer a wealth of suggested themes, theories and approaches that can drive our research forward for the next decades in business and society research and practice. Using the lens of a miner-prospector continuum to categorize the diversity of articles within this special issue, a common theme emerges across the portfolio of reviews: they all call for a more systemic and integrative perspective toward studying the complex interactions that link business and society actors and issues. Building on these findings, we encourage future scholars to fill long-standing researched gaps through a more open systems approach, which supports both contextually sensitive and multi-level and multi-disciplinary approaches to address grand societal challenges. We conclude with specific suggestions as to how business and society scholars might use an open systems approach, including embracing methodologies to address complex causal pathways, theorizing with a view towards spanning external and internal elements of an organization, and reflecting on the temporal and spatial dynamics of complex systems. (shrink)

Due to continual challenges in their external environment, corporations are facing an increased demand for public participation and stakeholder inclusion. As aresult, companies are seeking ways to improve communication with their stakeholders. The emergence of the Internet has provided new corporate channelsfor offering information to stakeholders. This paper suggests that the information contained in company web pages reflects strategic information about the company. In addition to offering information to the public, web pages signal which issues a company holds as strategically (...) important. The objective of this paper is to begin the process of examining how companies express their understanding of multiple stakeholder interests and their efforts to include stakeholders in their strategy documents. The theoretical premise of this paper draws from the strategic management and the stakeholder literatures. The empirical section examines the content of the web pages of two companies from the pulp and paper industry. Based on the results of meaning making analysis, we synthesize the content of the strategy documents with three dimensions: strategic actors, strategic activities, and strategic actions. (shrink)

This article focuses upon answering the following question: Does corporate political activity (CPA) stand as an academic field? Following Hambrick and Chen, we consider three elements of the emergence of an academic field—differentiation, mobilization, and legitimacy. Utilizing a variety of data sources, we find CPA to be well differentiated from other academic fields; to have undertaken a number of activities to mobilize CPA as a field, but short of large-scale unification; and to have earned low to moderate legitimacy within management, (...) but little legitimacy outside of management. All in all, at this time, CPA does not squarely meet the elements necessary to emerge as a field. (shrink)

Multinational enterprises are aware of their responsibility to protect human rights now more than ever, but severe human rights violations, including physical integrity abuses, continue unabated. To explore this puzzle, we engage theoretically with the means-ends decoupling literature to examine if and when oil and gas firms’ policies and practices prevent severe human rights abuse. Using an original dataset, we identify two pathways to mitigate means-ends decoupling: while human rights policies alone do not reduce human rights abuses, firms with a (...) high-quality human rights policy over the long-term reduce severe human rights abuses; firms that combine preparedness—which we define as a firm’s capabilities, practices, and engagement—with a long-term human rights policy also reduce the likelihood of human rights abuses. Preparedness, we argue, can lead to reinforcement dynamics between long-term policy efforts and additional capabilities that provide a more holistic understanding of firm behavior. (shrink)

This workshop brought together people who are interested in or concerned about the course syllabus. Participants’ concerns and discussion centered on issues such as: 1) the purpose of the syllabus; 2) writing objectives for the course; and 3) evaluation of a syllabus.

The conventional view of the relationship between ratings of corporate social responsibility (CSR) and responses to activist shareholder resolutions is that firms with low CSR ratings are likely to resist activist’s pressures to change corporate policies and behavior. By contrast, firms with high CSR ratings are more likely to support such activist shareholder efforts. In the IABS discussionsession and this paper, we argue that the conventional view of corporate responses to shareholder resolutions is inadequate to explain the motivations, strategies, and (...) tactics of firms when they respond to activist shareholders. (shrink)

Shareholder activists increasingly pressure corporations on social policy issues; yet, extant research provides little understanding of who these activists are and how they choose their corporate targets. In this article, we adopt an activist-centered approach and rely on hybrid organizational identity theory to determine, in a two-phase analysis, how shareholder activists define their economic and social identities and whether these identities are associated with specific target characteristics and tactical strategies. Our findings form the premise of a typology of institutional shareholder (...) activists that is empirically derived and takes into account the wide range of hybrid organizational identities that shareholders exhibit. With a sample of 735 social policy shareholder proposals filed by 104 institutional shareholders in the 2009-2010 period, our study presents one of the first empirical tests examining the heterogeneity of identities within the broad stakeholder category of “social shareholder activists.” Our empirical evidence demonstrates that these shareholders’ mix of economic and social identities is systematically related to their targets’ characteristics and tactical strategies. The implications of our new typology for research on shareholder activism and the value of our findings for managers conclude this article. (shrink)

Banks face a dilemma in choosing between maximising profits and facilitating the sustainable use of resources within a carbon-constrained future. This study provides empirical evidence on this dilemma, investigating whether a bank loan announcement for a firm with high carbon risk conveys information to investors about the firm’s carbon risk exposure collected through a bank’s pre-loan screening and ongoing monitoring. We use a sample of 120 bank loan announcements for ASX-listed firms over the period 2009–2015. We measure high carbon risk (...) exposure based on whether firms meet the reporting threshold of the NGER scheme. We document positive and significant excess loan announcement returns for loan renewals for high carbon risk firms, but not for loan initiations. Further, we document a more significant loan announcement return for renewals with favourable term revisions. Finally, we find no evidence that the market differentiates between domestic and foreign lenders. Taken together, our results suggest that investors perceive that banks incorporate carbon risk considerations into their lending decisions. Our results highlight the value of banks as financial intermediaries given the information asymmetry surrounding firms’ carbon risk exposure, and more generally the need to extend modern banking theory to consider issues such as the impact of banks’ CSR reputation on lending decisions. (shrink)

Name der Zeitschrift: Frühmittelalterliche Studien Jahrgang: 36 Heft: 2 Seiten: 357-366.

A popular approach to defining fictive utterance says that, necessarily, it is intended to produce imagining. I shall argue that this is not falsified by the fact that some fictive utterances are intended to be believed, or are non-accidentally true. That this is so becomes apparent given a proper understanding of the relation of what one imagines to one's belief set. In light of this understanding, I shall then argue that being intended to produce imagining is sufficient for fictive utterance (...) as well. (shrink)

As philosophers of mind we seem to hold in common no very clear view about the relevance that work in psychology or the neurosciences may or may not have to our own favourite questions—even if we call the subject ‘philosophical psychology’. For example, in the literature we find articles on pain some of which do, some of which don't, rely more or less heavily on, for example, the work of Melzack and Wall; the puzzle cases used so extensively in discussions (...) of personal identity are drawn sometimes from the pleasant exercise of scientific fantasy, at times from surprising reports of scientific fact; and there are those who deny, as well as those who affirm, the importance of the discovery of rapid-eye-movement sleep to the philosophical treatment of dreaming. A general account of the relation between scientific, and philosophical, psychology is long overdue and of the first importance. Here I shall limit myself to just one area where the two seem to connect, discussing one type of neuropsychological research and its relevance to questions in the philosophy of mind and the philosophy of psychology. (shrink)

Anonymity is a form of nonidentifiability which I define as noncoordinatability of traits in a given respect. This definition broadens the concept, freeing it from its primary association with naming. I analyze different ways anonymity can be realized. I also discuss some ethical issues, such as privacy, accountability and other values which anonymity may serve or undermine. My theory can also conceptualize anonymity in information systems where, for example, privacy and accountability are at issue.

This book explores the scope and limits of the concept of personDS a vexed question in contemporary philosophy. The author begins by questioning the methodology of thought-experimentation, arguing that it engenders inconclusive and unconvincing results, and that truth is stranger than fiction. She then examines an assortment of real-life conditions, including infancy, insanity andx dementia, dissociated states, and split brains. The popular faith in continuity of consciousness, and the unity of the person is subjected to sustained criticism. The author concludes (...) with a look at different views of the person found in Homer, Aristotle, the post-Cartesians, and contemporary cognitive science. (shrink)

I am extremely grateful to all commentators for such patient, generous, and stimulating contributions. What follows are some thoughts to enrich the conversation, but these are by no means intended to be definitive answers to the worries they have raised.

This article describes a team-taught environmental studies course called Animal Metaphors. Focusing on animal metaphors in literature and film, the course emphasizes various cognitive and perceptual biases that lead humans to place ourselves above and beyond nature, making us more likely to engage in practices destructive to the environment. Whereas the first iteration of the course underscored various ways in which humans are less rational or moral than we imagine, the new iteration shifted more of the focus to what inspires (...) and motivates humans, gives us emotional resilience, and best creates conditions for mental well-being as we cooperate and collaborate. This seemed an appropriate tack to take in an age commonly referred to as the “Anthropocene.” We thus continued to examine our status as evolved animals while also calling more attention to spiritual or ecstatic experience, music, humor, and the uniquely human ability for shared intentionality. (shrink)

Scientists depend on complex computational systems that are often ineliminably opaque, to the detriment of our ability to give scientific explanations and detect artifacts. Some philosophers have s...