Managerial Activism
| dc.contributor.author | Agca, Senay | |
| dc.contributor.author | Togan-Egrican, Asli | |
| dc.date.accessioned | 2024-06-23T21:38:08Z | |
| dc.date.available | 2024-06-23T21:38:08Z | |
| dc.date.issued | 2024 | |
| dc.description.abstract | We examine managerial activism through collective action in the corporate sector. Activist managers spend considerable resources in pursuing pro-business and pro-manager issues. While managerial activism is valuable in the pursuit of pro-business strategies, pro-manager agendas may exacerbate agency problems. Our evidence shows that firm performance improves with managerial activism through collective pro-business effort but is diminished by pro-manager activism. Furthermore, pro-business activism typically increases CEO compensation, whereas pro-manager activism decreases it. Firms that benefit most from collective managerial activism are those that are government dependent, have more intangible assets, or operate in industries with low competition. Overall, pro-business managerial activism adds value to firms, especially when information dissemination is more essential due to firm characteristics. | en_US |
| dc.description.sponsorship | We thank the George Washington University Institute for Statistics and Decision Sciences for a summer grant. We are grateful to Oya Altinkilic, Vineet Bhagwat, Ben Brody, Willam Domhoff, Ernie Englander, Nikolay Gantchev, Oğuzhan Karakaş, Ayla Kayhan, Simi Kedia, Mark Klock, Anzhela Knyazeva, Christo Pirinksy, Refik Soyer, Robert Van Order, Benjamin C. Waterhouse, and to the participants in the George Washington University Research Days, Koc University, the National Science Foundation, the Kadir Has University seminar participants, the 2019 Financial Management Association, the 2020 World Finance Congress, and the 2020 Southern Finance Association Conference session participants for their comments and suggestions. | |
| dc.description.sponsorship | Koç Üniversitesi, KU; National Science Foundation, NSF; Kadir Has University; 2020 World Finance Congress | |
| dc.identifier.doi | 10.1016/j.jcorpfin.2024.102588 | |
| dc.identifier.issn | 0929-1199 | |
| dc.identifier.issn | 1872-6313 | |
| dc.identifier.issn | 1556-5068 | |
| dc.identifier.scopus | 2-s2.0-85192718222 | |
| dc.identifier.uri | https://doi.org/10.1016/j.jcorpfin.2024.102588 | |
| dc.identifier.uri | https://hdl.handle.net/20.500.12469/5750 | |
| dc.language.iso | en | en_US |
| dc.publisher | Elsevier | en_US |
| dc.relation.ispartof | SSRN Electronic Journal | |
| dc.rights | info:eu-repo/semantics/closedAccess | en_US |
| dc.subject | Corporate governance | en_US |
| dc.subject | Managerial activism | en_US |
| dc.subject | Lobbying | en_US |
| dc.subject | Firm performance | en_US |
| dc.subject | Corporate social responsibility | en_US |
| dc.title | Managerial Activism | en_US |
| dc.type | Article | en_US |
| dspace.entity.type | Publication | |
| gdc.author.id | Agca, Senay/0000-0001-6875-3402 | |
| gdc.author.id | Togan, Asli/0000-0003-0489-6855 | |
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| gdc.author.wosid | Togan, Asli/AAG-7990-2020 | |
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| gdc.description.department | Kadir Has University | en_US |
| gdc.description.departmenttemp | [Agca, Senay] George Washington Univ, Washington, DC USA; [Togan-Egrican, Asli] Kadir Has Univ, Istanbul, Turkiye | en_US |
| gdc.description.publicationcategory | Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı | en_US |
| gdc.description.scopusquality | Q1 | |
| gdc.description.volume | 86 | en_US |
| gdc.description.woscitationindex | Social Science Citation Index | |
| gdc.description.wosquality | Q1 | |
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| gdc.oaire.sciencefields | 0502 economics and business | |
| gdc.oaire.sciencefields | 05 social sciences | |
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| gdc.virtual.author | Togan Eğrican, Aslı | |
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