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CEO Activism and Firm Value
CEO Activism and Firm Value Anahit Mkrtchyan, Jason Sandvik, Vivi Z. Zhu* January 2021 Abstract We investigate the impact of CEO activism, the increasingly common practice of CEOs speaking out on social and political issues, on firm value. CEO activism may be beneficial for shareholders, as it can bolster firms’ relationships with customers and employees. Alternatively, CEO activism may be detrimental if it alienates stakeholders with opposing views. Consistent with the former, we find that CEO activism results in a positive market reaction and higher valuations. These results can be explained by increased employee productivity and innovation, suggesting that CEO activism may improve corporate reputation in labor markets. Additionally, activist CEOs benefit from more future directorships. Keywords: CEO Activism, firm value, productivity, innovation. JEL Classification Numbers: G34 *Anahit Mkrtchyan is from the D’Amore-McKim School of Business, Northeastern University and can be reached at [email protected]. Jason Sandvik and Vivi Z. Zhu are from the A. B. Freeman School of Business, Tulane University. Sandvik can be reached at [email protected] and Zhu can be reached at [email protected]. We thank John Bai, Jonathan Brogaard, Lucy Chernykh, James Conklin, Felipe Cortes, Laura Field, Davidson Heath, Udi Hoitash, Kate Holland, Peter Iliev, William Kerr, Michelle Lowry, Nadya Malenko, Stijn Van Nieuwerburgh, Yihui Pan, Miriam Schwartz-Ziv, Nathan Seegert, Kandarp Srinivasan, Kuncheng Zheng, and the participants of workshops at Florida State University and Tulane University for their helpful comments. Electronic copy available at: https://ssrn.com/abstract=3699082 1. Introduction Over the last decade, business leaders have increasingly engaged in CEO activism, i.e., the practice of speaking out on hot-button social and political issues. -
Kstatenotes052213 KSU Track Notes
- Erik Kynard - 2012 Olympic Silver Medalist Back-to-Back NCAA Champion 9 NCAA Champions since 2000 Back-to-Back Women’s Big 12 Champions 2001 • 2002 INDOOR WEEK 10: NCAA WEST PRELIMINARY ROUNDS May 23-25 DECEMBER Location: Austin, Texas 7 CAROL ROBINSON WINTER PENTATHLON ______DICK: 1ST Stadium: Mike A. Myers Stadium 8 KSU ALL-COMERS ______________11: 1ST PLACE Twitter: @kstate_gameday @ncaa ____________GIBBS/WILLIAMS: SCHOOL RECORDS Hashtags: #KStateTF #NCAATF JANUARY Live Results: texassports.com/livestats/c-track/ Live Video: texassports.com 11 JAYHAWK CHALLENGE ________________8: 1ST PLACE Tickets: All-Session: $25 adult, $15 (youth, senior); Single-Day: $10/7 19 WILDCAT INVITATIONAL ____________18: 1ST PLACE 24-26 BILL BERGAN INVITATIONAL ______MEN, WOMEN: 3RD PLACE WILDCATS BEGIN POSTSEASON QUEST IN AUSTIN FEBRUARY This week marks the beginning of the postseason for the Kansas State track and field team as a 1-2 SEVIGNE HUSKER INVITATIONAL __________1: 1ST PLACE group of Wildcats are headed to Austin, Texas, for the NCAA West Preliminary Rounds. The top 8 DON KIRBY COLLEGIATE INVITATIONAL RODRIGUEZ: SCHOOL RECORD 48 individuals and top 24 relays in the region will compete over three days of action from Mike 8-9 IOWA STATE CLASSIC ______________________ A. Myers Stadium with 12 spots on the line to advance to the NCAA Championship next 15 NEBRASKA TUNE-UP________________LINCOLN, NEB. month. 16 KSU OPEN __________________18: 1ST PLACE ________KYNARD: SCHOOL RECORD, AHEARN RECORD K-State has nine individuals set to compete for the men along with both the 4x100 and 4x400 relays. The women’s team has 12 individuals in a total of 14 entries, plus both relays. -
UNITED STATES DISTRICT COURT DISTRICT of OREGON Portland
Case 3:13-cv-00662-HZ Document 23 Filed 12/06/13 Page 1 of 58 Page ID#: 6150 0 0 Robert M. Lyden ProSe 18261 S.W. Fallatin Loop Aloha, OR 97007 E-mail: robertlyden @comcast.net Phone: (971) 219-1200 UNITED STATES DISTRICT COURT DISTRICT OF OREGON Portland Division ROBERT M. LYDEN, Case No. 3:13-CV-00662-HZ an individual, Plaintiff, SECOND AMENDED COMPLAINT FOR: v. PATENT INFRINGEMENT; CONVERSION; NIKE, INC., FRAUD; AND, an Oregon Corporation, and UNFAIR COMPETITION, BUSINESS, AND TRADE PRACTICES I RICO MARK PARKER, CEO of Nike, Inc., An Individual, and PHILLIP KNIGHT, Co-Founder of Nike, Inc., and Principle Shareholder, An Individual, Defendants. DEMAND FOR JURY TRIAL Case 3:13-cv-00662-HZ Document 23 Filed 12/06/13 Page 2 of 58 Page ID#: 6151 c 0 For his complaint against Nike, Inc., Plaintiff Robert M. Lyden ("Plaintiff" or "Lyden"), states and alleges, as follows: NATURE OF THE CASE 1. This is a patent infringement lawsuit brought under the patent laws of the United States, including 35 U.S.C. §§ 271, 281, 283-85. 2. In addition, this is an unfair competition and unlawful business, trade practices lawsuit arising under common law, and including ORS § 646.607, 646.608, and 646.638, but also ORS § 166.720, RICO. THE PARTIES 3. Robert M. Lyden is a private individual having a residence at 18261 S.W. Fallatin Loop, Aloha, Oregon 97007, in the United States. 4. Nike, Inc. is a corporation organized under the laws of the State of Oregon, having its World Headquarters and principle place of business at One Bowerman Drive, Beaverton, Oregon 97005, in the United States. -
By Gerald L. Aben Submitted in Partial Fulfillment of The
A WHOLE NEW WORLD: SUPPORTING SOCIALLY RESPONSIBLE BUSINESS THROUGH LEGISLATION by Gerald L. Aben Submitted in partial Fulfillment of the requirements of the King Scholar Program Michigan State University College of Law Under the Direction of Professor Bruce Bean Spring, 2009 INTRODUCTION A fundamental question that commentators have asked since the inception of the corporation is whether a corporation is merely a tool to make profits for its shareholders, or, as a construct of society, does it owe that society certain obligations.1 Currently, corporate law in the United States mandates that a corporation’s sole obligation is to its corporate shareholders.2 While this view of corporations is popular among investors and free market proponents, many activists and commentators have argued that corporations should actively consider the effects corporate decisions have on other constituencies, most notably employees, customers, and neighbors.3 However, advocates differ on what Corporate Social Responsibility (CSR) is, and how a corporation can ensure that it is a responsible member of society.4 At the same time, critics argue that the only social responsibility corporations have is to their shareholders and that CSR violates the principles of free market society.5 Many corporations, such as Nike, Inc. (Nike) and BP, plc (BP) have voluntarily implemented CSR programs for a variety of reasons.6 These programs have had mixed success and are often met with skepticism from the public as mere ploys for publicity.7 Additionally, the legality of CSR -
Star Sneakerheads
12 centrespread centrespread 13 JULY 07-13, 2019 JULY 07-13, 2019 Air Jordan OVO These white-and-gold shoes also trace their story to a basketball Star game in 2014, where rapper Drake sported them before giving them to a fan, who sold it online for a pretty penny Sneakerheads Nike Mag Back to the Future A replica of the shoes shown in the 1989 movie Back to the Future II, the 2016 edition of the self-lacing Nike Mag last sold $1,00,000 for $10,000 on StockX SPIKE LEE DJ KHALED Diamond and Gold Lebron 15 Nike in 2018 commissioned legendary sneaker designer Dominic Chambrone to make a pair for their brand $10,000 JUST Eminem x Carhartt x Air Jordan 4 ambassador LeBron James 'Black Chrome' to mark his 30,000th career Made exclusively for the rapper’s family point. The sneakers were and friends in 2015, a few pairs were made from crocodile skin auctioned on eBay. and covered in 24-carat gold and studded with diamonds. FOR KEVIN DURANT KICKS $12,300 PHARRELL WILLIAMS Collecting sneakers is no longer just a fad. $1,00,000 StockX, which started off as an eBay for sneakers, recently raised $110 million at a valuation of $1 billion. The Detroit-based Pharrell x Chanel x NMD ecommerce platform now also has streetwear, Human Race Trail 'Chanel' Air Jordan 12 'Flu Game' watches, handbags and collectibles. StockX Coming out of a collaboration of Michael Jordan battled the flu to score 38 was founded by Josh Luber, a former IBM Adidas, singer Pharrell Williams and points, 7 rebounds and 5 assists to secure fashion house Chanel, only 500 pairs a victory for Chicago Bulls against Utah consultant, in 2015 and counts General of these NMD Human Race were Jazz in game 5 of the 1997 NBA Atlantic among its investors. -
2021 Track & Field Record Book
2021 TRACK & FIELD RECORD BOOK 1 Mondo broke his own world record with a clearance of 6.18 meters in Glasgow, Scotland, on February 15, 2020. 2020 World Athletics Male Athlete of the Year Baton Rouge, La. – Mondo Duplantis was named Renaud Lavilennie’s previous world record of 6.14 Greg, were given the Coaching Achievement Award. the winner of the 2020 World Athletics Male Athlete of meters that was set in 2014. Helena and Greg serve as Mondo’s coaches and the Year award on December 5, 2020. The virtual cer- It was only a week later and he re-upped his world training advisors; Greg still serves as a volunteer emony announced a plethora of awards in what was a record by a centimeter with a clearance of 6.18 meters assistant coach with the LSU track and field program. celebration of the sport of track and field. on February 15 at the Muller Indoor Grand Prix in Mondo also was part of an award that was won by Mondo won the award over Joshua Cheptegei Glasgow. The indoor season saw him compete five Renaud Lavillenie – the COVID Inspiration award. In the (Uganda), Ryan Crouser (USA), Johannes Vetter times and at each event he cleared six meters or early stages of COVID-19 lockdowns, Lavillenie came (Germany), and Karsten Warholm (Norway). Duplantis, higher. up with the concept of the ‘Ultimate Garden Clash’. It who is 21 years old, becomes the youngest winner of Following a three and a half month hiatus due was event that three pole vaulters – Lavillenie, Mondo, this award. -
Southern Oregon Past& Medford's Nike Connection: Bill Bowerman By
Medford’s Nike Connection: Bill Bowerman By Dennis Powers Former Medford High football player and coach, Bill Bowerman, later went on to become a legend in coaching track--and a co-founder of Nike. He played for another stand-out, Prink Callison, whose Medford teams had a 44-game win streak at one time and won three state championships from 1926 to 1928. The 1928 Medford “Tigers” (as the team was called then)--one of the best teams ever in Southern Oregon--averaged 36 points a game, limited opponents to 40 points for the entire season, and Bill Bowerman was their left end. Born in 1911, Bowerman moved to Medford when he was 10 years old. Raised by his mother and aunts (his father left the family when he was 2), he was “a mean little kid,” by his own admission. When he went out for football as a sophomore, Callison wouldn’t put up with his antics and kicked him off the varsity team to junior varsity. Bowerman credits both him and Superintendent Hedrick (for whom the middle school on East Jackson Street is named) as disciplinarians who straightened him out. He also played basketball and edited the school newspaper. After high school, he went to the University of Oregon (“OU”) and became a quarter- mile runner under legendary Ducks’ track coach, Colonel Bill Hayward; this coach became the mentor under which Bowerman modeled himself and learned the “concepts of greatness,” as he reminisced. With his bachelor’s degree in 1934, Bowerman decided to attend medical school, but he first had to earn tuition. -
Wolscript.Pdf
Without Limits (Warner Brothers, 1998) Running time: 1 hour, 58 minutes Selected Film Credits Produced by Tom Cruise and Paula Wagner Directed by Robert Towne Executive Producers – Jonathan Sanger and Kenny Moore Written by Robert Towne and Kenny Moore Track Consultants – Frank Shorter, John Gillespie, Steve Bence Special Consultants – Bill and Barbara Bowerman, Jim Jaqua, Mary Marckx, Dave Frohnmayer Original music composed and conducted by Randy Miller Partial Cast of Characters Steve Prefontaine Billy Crudup Olympic Trials Bill Bowerman Donald Sutherland George Young Garth Granholm Walt McClure Greg Foote Bill Dellinger Dean Norris Munich Olympics Elfriede Prefontaine Lisa Banes TV Director William Friedkin Kenny Moore Billy Burke Charlie Jones Himself Roscoe Devine Matthew Lillard Fred Long Frank Shorter Mary Marckx Monica Potter BBC Commentator David Coleman Molly Cox Karen Elliott Prefontaine (age 6) Jamie Schwering Bob Peters William Mapother Bully Coleman Dow Barbara Bowerman Judith Ivey German Guard John Roemer Mac Wilkins Adam Setliff Russ Francis Nicholas Oleson Lasse Viren Pat Porter Hayward Field Announcer Wendy Ray Mohammed Gammoudi Steve Ave Starter Wade Bell Dave Bedford Jonathan Pritchard Don Kardong Gabriel Olds Emiel Puttemans Tom Ansberry Turn Judge Edwin L. Coleman II Harold Norpoth Sol Alexis Sallos Coed #1 Katharine Towne Juha Vaatinen Thomas DeBacker Coed #2 Cassandra A. Coogan Ian Stewart Ashley Johnson Coed #3 Amy Erenberger Javier Alvarez Brad Hudson Frank Eisenberg Todd D. Lewis NCAA Championships Per Halle Tove Christensen Iowa’s Finest Amy Jo Johnson Nikolay Sviridov Chris Caldwell Ian McCafferty Paul Vincent Helsinki Frank Shorter Jeremy Cisto Restoration Meet & Party Finnish Track Official #1 Ryan S. -
View Responsibility Report
Innovate for a Better World Nike FY05-06 Corporate Responsibility Report Contents Letter from Mark Parker, CEO 3 Corporate Responsibility Strategy 6 Workers in Contract Factories 15 Considered Design & the Environment 51 Let Me Play 74 Nike Foundation 87 Diversity & Inclusion 91 Public Policy 108 Nike Business Overview 117 Governance, Accountability & Reporting 122 Letter from the Report Review Committee 134 Glossary 137 Guidelines and Principles Index 139 About this report: This document contains hyperlinks to outside groups and Nike tools. To access these, simply click on the highlighted links and they will open in your browser. 2 1 Letter from Mark Parker, CEO 3 1 Letter from Mark Parker, CEO This report covers a crucial period, and not just for Nike. Specifically, We see corporate we saw heightened attention worldwide on corporate responsibility and the key challenges of climate change, poverty and equity. responsibility as a Simultaneously, we began to transform our vision of Nike’s role in contributing to positive change in communities around the world. catalyst for growth The opportunity is greater than ever for corporate responsibility principles and practices to deliver business returns and become a driver of growth, to build deeper consumer and community connections, and innovation. and to create positive social and environmental impact in the world. We have made tremendous progress over the past two years in more deeply integrating corporate responsibility into our business model. We see corporate responsibility as a catalyst for growth and innovation, an integral part of how we can use the power of our brand, the energy and passion of our people, and the scale of our business to create meaningful change. -
Nike V. Kasky and the Modern Commercial Speech Doctrine - Forward: the Landmark Free-Speech Case That Wasn't: the Nike V
Case Western Reserve Law Review Volume 54 Issue 4 Article 3 2004 Symposium: Nike v. Kasky and the Modern Commercial Speech Doctrine - Forward: The Landmark Free-Speech Case That Wasn't: The Nike v. Kasky Story Ronald K.L. Collins David M. Skover Follow this and additional works at: https://scholarlycommons.law.case.edu/caselrev Part of the Law Commons Recommended Citation Ronald K.L. Collins and David M. Skover, Symposium: Nike v. Kasky and the Modern Commercial Speech Doctrine - Forward: The Landmark Free-Speech Case That Wasn't: The Nike v. Kasky Story, 54 Case W. Rsrv. L. Rev. 965 (2004) Available at: https://scholarlycommons.law.case.edu/caselrev/vol54/iss4/3 This Symposium is brought to you for free and open access by the Student Journals at Case Western Reserve University School of Law Scholarly Commons. It has been accepted for inclusion in Case Western Reserve Law Review by an authorized administrator of Case Western Reserve University School of Law Scholarly Commons. SYMPOSIU." NIKE V. KASKY AND THE MODERN COMMERCIAL SPEECH DOCTRINE FOREWORD THE LANDMARK FREE-SPEECH CASE THAT WASN'T: THE NIKE V. KASKY STORY* Ronald K.L. Collinstand David M. Skovertt A Term highlightedby constitutional rulings of lasting significancealso produced one monumental disappointment-adud.... --Thomas C. Goldstein' ©2004 Ronald K.L. Collins & David M. Skover. t Scholar, First Amendment Center, Arlington, Virginia. In the interest of full disclosure, I note that I was approached early on by Mr. Jim Carter, Vice President and General Counsel for Nike, to discuss the case with my colleague, Paul McMasters, while review was pending in the U.S. -
Lna 2006 Profiles J.Qxp
1 | Advertising Age | June 26, 2006 SpecialSpecial ReportReport:100 Profiles LEADING NATIONAL ADVERTISERSSupplement SUPPLEMENT June 26, 2006 100 LEADING NATIONAL ADVERTISERS Profiles of the top 100 U.S. marketers in this 51st annual ranking INSIDE TOP 100 RANKING COMPANY PROFILES SPONSORED BY The nation’s leading marketers Lead marketing personnel, ranked by U.S. advertising brands, agencies, agency expenditures for 2005. contacts, as well as advertising Includes data from TNS Media spending by media and brand, Intelligence and Ad Age’s sales, earnings and more for proprietary estimates of the country’s 100 largest unmeasured spending. PAGE 8 advertisers PAGE 10 This document, and information contained therein, is the copyrighted property of Crain Communications Inc. and The Ad Age Group (© Copyright 2006) and is for your personal, non-commercial use only. You may not reproduce, display on a website, distribute, sell or republish this document, or information contained therein, without prior written consent of The Ad Age Group. Are proud to connect you with the leading CMOs See all the interviews at adage.com/point LAUNCHING JUNE 28 © 2006 Crain Communications Inc. www.adage.com 3 | Advertising Age | June 26, 2006 Special Report 100 LEADING NATIONAL ADVERTISERS SUPPLEMENT ABOUT THIS PROFILE EDITION THE 51ST ANNUAL 100 Leading National the Top 100 ($40.13 billion) and for all measured spending in 18 national media, Advertisers Report crowned acquisition- advertisers ($122.79 billion) in the U.S. Yellow Pages Association contributed ladened Procter & Gamble Co. as the top U.S. ad spending by ad category: This spending in Yellow Pages and TNS Marx leader, passing previous kingpen General chart (Page 6) breaks out 18 measured Promotion Intelligence provided free- Motors Corp. -
Yeezy Red October Release Date
Yeezy Red October Release Date Yearly and flyweight Archie conserves almost alarmedly, though Wolfgang twinkle his pipa conversed. Condemnable Sylvan overlaying that chauffeuses gulps fraternally and perpetrating unscholarly. Harland urticates her palas continuedly, repugnant and tappable. Nike, Adidas, Champion and Carhartt at KICKZ. Admin Menu Editor page. TEX offers a rugged design that supports the trail. Shoes sharing the same inspiration, history, materials, or technologies are routinely assembled under one compilation for the convenience of those who may wish to categorize or label their own collection as such. Air yeezys have to date of pant, releases are you agree to. Head on over and check out our dedicated Black Friday hub. It covers one of the lace holes altogether and leaves too big a gap from the lace hole underneath. Style Words By Sarah Osei. Similar Sites by Audience Overlap. From Yeezy and waive to shovel and Pat McGrath it was a failure of. Kanye West GQ Nike Air Yeezy Retro SneakerNewscom. Past Tell could go up for sale on the Internet at any. London and release dates, red october and comfort zone in favor of yeezys now that are required to a discounted price. Any Eagles fans out there? This yeezy red octobers vs fake mesh, they release dates, eye can see what people knew that. Before the catch and jumble of Adidas Yeezy there was clean simple sneaker from a simpler time The Nike Air Yeezy 2 SP Red October had been. The young intern, Ryan Inwards, allegedly shared confidential Yeezy photos on his. It means that I want to add the sneaker to my collection AND try to resell another pair.