1 option
Exit vs. Voice / Eleonora Broccardo, Oliver D. Hart, Luigi Zingales.
- Format:
- Book
- Author/Creator:
- Broccardo, Eleonora.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w27710.
- NBER working paper series no. w27710
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2020.
- Summary:
- We study the relative effectiveness of exit (divestment and boycott) and voice (engagement) strategies in promoting socially desirable outcomes in companies. We show that in a competitive world exit is less effective than voice in pushing firms to act in a socially responsible manner. Furthermore, we demonstrate that individual incentives to join an exit strategy are not necessarily aligned with social incentives, whereas they are when well-diversified investors are allowed to express their voice. We discuss what social and legal considerations might sometimes make exit preferable to voice.
- Notes:
- Print version record
- August 2020.
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