Ashiru, F., Adegbite, E., and Nakpodia, F. (2023) Nigerian professional investors' sensemaking of the impact of shareholder activism on corporate accountability. Journal of Accounting and Public Policy, 42 (4). 107114.

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Abstract

This study investigates the perceptions of professional investors (PIs) on the impact of three groups of shareholder activists (i.e., reputable, sophisticated, or institutional) on corporate accountability in a weak institutional context and how this shapes the PIs’ investment recommendations. Relying on a sense-making theoretical perspective of the power and competence of shareholder activists obtained through semi-structured interviews with 27 Nigerian PIs, we reveal that the impact of shareholder activism occurs in three activism-accountability dimensions: dominant, insignificant, and emerging. Subsequently, we unpack factors that explain the power and influence of the dominant activism of reputable activists, the insignificant activism of sophisticated activists and the emerging activism of institutional activists. By advocating a contextual understanding of shareholder activism, this article sheds much-needed insights into the concept of ‘activism-accountability’ in a weak institutional environment.

Item ID:	79163
Item Type:	Article (Research - C1)
ISSN:	1873-2070
Keywords:	Nigeria, Professional investors, Sense-making, Shareholder activism, Weak institutions
Copyright Information:	© 2023 Published by Elsevier Inc. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).
Date Deposited:	04 Jul 2023 04:37
FoR Codes:	35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3501 Accounting, auditing and accountability > 350102 Auditing and accountability @ 100%
SEO Codes:	15 ECONOMIC FRAMEWORK > 1503 Management and productivity > 150302 Management @ 100%
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