Cespa, Giovanni; Cestone, Giacinta - Department of Economics and Business, Universitat … - 2002
activists and pressure groups can turn into a self-entrenchment strategy for incumbent CEOs. Stakeholders other than … charter, may deprive CEOs of the alliance with powerful social activists, thus increasing managerial turnover and shareholder … value. These results rationalize a recent trend whereby well-known social activists like Friends of the Earth and active …