Corporate Boards with Street Smarts? How Diffuse Street Protests Indirectly Shape Corporate Governance

IF 8.3 1区 管理学 Q1 BUSINESS
Muhan Zhang, Forrest Briscoe, Mark R. DesJardine
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引用次数: 1

Abstract

Though recent waves of large-scale street protests have not directly targeted the business sector, they can still represent a major development in a company’s external environment. Building on the literature on community embeddedness, this study extends activism-as-information theory to understand how and when companies respond to street protests that take place in their communities. We argue that for business leaders, the scale of protests serves as an information update regarding the changing relevance of the protested social issue in a community. Using data from 2017 to 2020 on Women’s March protests in the United States, we show that the scale of street protests in local communities is associated with the likelihood of subsequent female director appointments for corporations headquartered in those communities: larger-scale protests are associated with a higher likelihood of such appointments. Further, we show that this response to proximal protests is heightened for protests that occur in local communities least aligned with the protest movement and for companies least internally aligned with the protest goals. Our theory and findings extend research on social movements in markets, showing how and why organizations respond to diffuse community protests, and they enrich corporate governance research on the roles of communities and stakeholders in shaping board composition.
企业董事会具备街头智慧?街头抗议如何间接影响公司治理
尽管最近的大规模街头抗议浪潮并未直接针对商业部门,但它们仍然可以代表公司外部环境的重大发展。基于社区嵌入性的文献,本研究扩展了行动主义即信息理论,以理解公司如何以及何时应对社区中发生的街头抗议活动。我们认为,商界领袖,抗议活动的规模作为一个信息更新关于变化的相关性抗议社会问题的一个社区。利用2017年至2020年美国妇女大游行抗议活动的数据,我们表明,当地社区街头抗议活动的规模与总部设在这些社区的公司随后任命女性董事的可能性相关:规模较大的抗议活动与此类任命的可能性较高相关。此外,我们表明,在与抗议运动最不一致的当地社区发生的抗议活动以及在内部与抗议目标最不一致的公司发生的抗议活动中,这种对近端抗议活动的反应会加剧。我们的理论和发现扩展了对市场社会运动的研究,展示了组织如何以及为什么应对分散的社区抗议,并丰富了社区和利益相关者在塑造董事会构成中的作用的公司治理研究。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
20.50
自引率
3.80%
发文量
49
期刊介绍: Administrative Science Quarterly, under the ownership and management of the Samuel Curtis Johnson Graduate School of Management at Cornell University, has consistently been a pioneer in organizational studies since the inception of the field. As a premier journal, it consistently features the finest theoretical and empirical papers derived from dissertations, along with the latest contributions from well-established scholars. Additionally, the journal showcases interdisciplinary work in organizational theory and offers insightful book reviews.
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