Michael Jensen of the Harvard Business School, recently quoted in The Wall Street Journal, noted that "institutional activism is never going to amount to anything." A sharply contrasting view is evident from Fortune which held that the power of such groups "will be one of the most important...

This study explores the competing influences of different types of board interlocks on diffusion of a strategic initiative among a population of firms. We examine a broad social network of interlocking directors in U.S. firms over a period of 17 years and consider the likelihood these firms will...