Publications

Article

The Right and Wrong Way to Do ‘CEO Activism’

By: Aaron K Chatterji and Michael W. Toffel

CEO activism—where leaders take public stands on controversial social and political issues that aren’t related to their company’s bottom line—has become increasingly common. CEO activism has attracted favorable media attention, but has also resulted in backlash and... View Details

Keywords: Leadership; Social Issues; Communication Strategy; Performance Effectiveness

January–February 2018
Article

The New CEO Activists

By: Aaron K Chatterji and Michael W. Toffel

Though corporations have been lobbying the government and making campaign donations for a long time now, in recent years a dramatic new trend has emerged in U.S. politics: CEOs are taking very public stands on thorny political issues that have nothing to do with their... View Details

Keywords: Government Policy; Rights; Leadership & Corporate Accountability; Sustainability; Leadership; Corporate Accountability; Policy; Social Issues; Communication Intention and Meaning; United States

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2020
Working Paper

Digital Experimentation and Startup Performance: Evidence from A/B Testing

By: Rembrand Koning, Sharique Hasan and Aaron Chatterji

Recent work argues that experimentation is the appropriate framework for entrepreneurial strategy. We investigate this proposition by exploiting the time-varying adoption of A/B testing technology, which has drastically reduced the cost of experimentally testing... View Details

Keywords: Experimentation; A/B Testing; Data-driven Decision-making; Entrepreneurship; Strategy; Business Startups; Information Technology; Performance

SSRN

22 Jun 2010
First Look

First Look: June 22

advertising market—one that suffers quite a different set of problems. Display advertising systems place ads-typically, rectangular "banners"—on the majority of popular web sites. Though display ads are widespread, they are also troubled—ignored View Details

Keywords: Martha Lagace

07 Jul 2009
First Look

First Look: July 7

Firms Respond to Being Rated Authors:Aaron K. Chatterji and Michael W. Toffel Publication:Strategic Management Journal (forthcoming) Abstract While many rating systems seek to help buyers overcome... View Details

Keywords: Martha Lagace

September 20, 2024
Article

It’s Time to Unbundle ESG

By: Aaron K. Chatterji and Michael W. Toffel

ESG is at an inflection point. It has come to represent a broad and inchoate aspiration for what business should be doing beyond maximizing shareholder value. With ESG advocates on the defensive, business leaders need a new roadmap to determine which factors to... View Details

Keywords: ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; ESG Reporting; ESG Disclosure; Sustainability; Climate; Climate Finance; Climate Risk; Social Accounting; Investment; Governance; Safety; Climate Change; Environmental Sustainability; Corporate Social Responsibility and Impact; Financial Services Industry

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March 27, 2018
Other Article

Why CEOs Are Taking a Stand

By: Aaron K. Chatterji and Michael W. Toffel

In this podcast, we discuss the emerging phenomenon of CEO activism. We explain how political polarization in the U.S. and employee expectations around company values are pushing corporate leaders to enter into controversial political and social debates. We also hear... View Details

Keywords: Leadership; Social Issues; Values and Beliefs; Communication Strategy

April 2017 (Revised April 2017)
Teaching Note

CEO Activism (A) and (B)

By: Michael W. Toffel and Aaron K. Chatterji

Teaching Note for HBS Nos. 617-001 and 617-048. View Details

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October 22, 2012
Article

What Green Rankings Don't Tell You

By: Aaron K. Chatterji and Michael W. Toffel

August 2022
Article

The Bulletproof Glass Effect: Unintended Consequences of Privacy Notices

By: Aaron R. Brough, David A. Norton, Shannon L. Sciarappa and Leslie K. John

Drawing from a content analysis of publicly traded companies’ privacy notices, a survey of managers, a field study, and five online experiments, this research investigates how consumers respond to privacy notices. A privacy notice, by placing legally enforceable limits... View Details

Keywords: Choice; Purchase Intent; Privacy; Privacy Notices; Warnings; Assurances; Information Disclosure; Trust; Consumer Behavior; Spending; Decisions; Information; Communication

28 May 2008
First Look

First Look: May 28, 2008

the paper: http://www.hbs.edu/research/pdf/08-096.pdf Shamed and Able: How Firms Respond to Being Rated (Revised May 2008) Authors:Aaron K. Chatterji and Michael W. Toffel Abstract We examine how firms... View Details

Keywords: Martha Lagace

June 18, 2020
Article

What CEOs Still Haven't Said about Race and Policing

By: Aaron K. Chatterji and Michael W. Toffel

While many CEOs have spoken out to share their thoughts on race and police misconduct in America, they have yet to advocate for policy solutions for police reform, focusing instead on their own corporate and personal values. But lasting change must also involve ... View Details

Keywords: Activism; CEO; Political Issues; Political Leadership; Racial Tensions; Racism; Leadership; Race; Communication; Government and Politics; Law; Organizational Culture; United States

March 2017 (Revised October 2017)
Supplement

CEO Activism (B)

By: Michael W. Toffel, Aaron K. Chatterji and Julia Kelley

Supplements the (A) case. View Details

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24 Jan 2012
First Look

First Look: Jan. 24

losses and a heightened focus on gains when policies are evaluated in bundled form. Book: http://www.hbs.edu/research/pdf/09-147.pdf Structuring Consulting Firms Authors:Tim Morris, Heidi K. Gardner, and N. Anand Publication:In The Oxford... View Details

Keywords: Sean Silverthorne

2023
Working Paper

No Free Lunch? Welfare Analysis of Firms Selling Through Expert Intermediaries

By: Kyle Myers, Matt Grennan, Ashley Swanson and Aaron K. Chatterji