“…In a second strand of literature, management scholars examining the impact of shareholder activism have found that activists can positively impact firms' CSP (Eesley, Decelles, & Lenox, ). However, since management researchers have focused primarily on social activism (Briscoe & Gupta, ), shareholder proposals, and requests for change (Agrawal, ; Clark & Crawford, ; David, Bloom, & Hillman, ; Neubaum & Zahra, ; Perrault & Clark, ; Rehbein, Logsdon, & Van Buren, ; Reid & Toffel, ), little is known about whether and how firms' CSP changes after activist hedge funds acquire ownership stakes in targeted firms. Calling for more research, Ahn and Wiersema (in‐press) conclude, “management scholars have largely neglected to investigate the influence that activist hedge funds have on companies, thus ignoring an important constituent that is driving corporate strategy and governance.”…”