Shareholder advocacy and social performance of the firms in the USA. Evolution of the shareholder advocacy to improve social performance of the firms

      Аннотация: We analyzed the Socially Responsible Investment in the USA from the shareholder’s point of view. Based on the rule 14a-8, dissatisfied investors or activists may submit proposal to be implemented in order to improve social, societal and environmental performances of a firm. They may change the firm strategy through their proposals. We updated a database from 1997 to 2007 and outlined the nature of 3,428 filed resolutions, targeted companies, resolution’s outcomes and filers. Assuming that Socially Responsible Investment is a growing phenomenon, this report contributes to knowledge about the nature of the resolutions and their vote, and the involvement of filers.

Ключевые слова: corporate social responsibility, Socially Responsible Investment, USA, Shareholder advocacy, social policy shareholder activism, social policy resolutions