Non-Governmental Organizations, Shareholder Activism, and Socially Responsible Investments: Ethical, Strategic, and Governance Implications |
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Authors: | Terrence Guay Jonathan P Doh Graham Sinclair |
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Institution: | 1. The Smeal College of Business, The Pennsylvania State University, University Park, PA, 16802, U.S.A.
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Abstract: | In this article, we document the growing influence of non-governmental organizations (NGOs) in the realm of socially responsible
investing (SRI). Drawing from ethical and economic perspectives on stakeholder management and agency theory, we develop a
framework to understand how and when NGOs will be most influential in shaping the ethical and social responsibility orientations
of business using the emergence of SRI as the primary influencing vehicle. We find that NGOs have opportunities to influence
corporate conduct via direct, indirect, and interactive influences on the investment community, and that the overall influence
of NGOs as major actors in socially responsible investment is growing, with attendant consequences for corporate strategy,
governance, and social performance. |
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Keywords: | |
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