CEOs have increasingly been speaking out on social issues that are not directly related to their core businesses. Why are they doing so, and what are the consequences for their companies?
In a new paper, I examine the phenomenon of CEO activism. Using textual analysis of the public statements and social media posts of CEOs, I classify a statement as activist if the CEO comments on gender equality, racial diversity, immigration, gun control, environmental issues, universal healthcare, or human rights. In total, there are 187 activist statements by CEOs of S&P 500 firms in the 2014-2019 period – most of … Read more