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A new politics of engagement: shareholder activism for corporate social responsibility

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  • Anastasia O'Rourke

Abstract

Shareholder groups are increasingly going beyond the decision to invest, not to invest, or to divest by proposing and voting on company specific corporate social responsibility (CSR) issues at annual shareholder meetings. This activity is joined by an increasingly sophisticated ‘strategy of engagement’ by both shareholders and companies. In the process, a model of investor capitalism based on ‘responsible ownership’ is being forged that addresses social and environmental issues previously outside the domain of most shareholders. This paper traces a historical perspective on the growth and spread of shareholder activism, describes the key actors currently involved in this activity, illustrates the CSR issues being raised, explains the process of preparing resolutions and entering into dialogue, assesses some of the results gained so far and lays a conceptual foundation to help analyse the effectiveness of shareholder activism and assess the viability of models of ‘shareholder democracy’. Copyright © 2003 John Wiley & Sons, Ltd and ERP Environment.

Suggested Citation

  • Anastasia O'Rourke, 2003. "A new politics of engagement: shareholder activism for corporate social responsibility," Business Strategy and the Environment, Wiley Blackwell, vol. 12(4), pages 227-239, July.
    • Handle: RePEc:bla:bstrat:v:12:y:2003:i:4:p:227-239
    DOI: 10.1002/bse.364
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    Cited by:

    1. Lu, Jing & Qiu, Yuhang, 2024. "Does minority shareholder activism reduce stock idiosyncratic risk?," Research in International Business and Finance, Elsevier, vol. 67(PA).
    2. Chen, Hongtao & Fang, Xiumei & Xiang, Erwei & Ji, Xiaojia & An, Maolin, 2023. "Do online media and investor attention affect corporate environmental information disclosure？Evidence from Chinese listed companies," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 1022-1040.
    3. Giuliano, Genevieve & Linder, Alison, 2013. "Motivations for self-regulation: The clean air action plan," Energy Policy, Elsevier, vol. 59(C), pages 513-522.
    4. Muñoz, Fernando, 2021. "Carbon-intensive industries in Socially Responsible mutual funds' portfolios," International Review of Financial Analysis, Elsevier, vol. 75(C).

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