From Motivation to Outcome: A Structured Narrative Review of the Literature on Corporate Activism

Corporate Activism (CA) has emerged as a significant trend, with companies increasingly taking public stances on divisive sociopolitical issues, marking a departure from traditional corporate neutrality. This paper situates CA within related concepts, such as corporate social responsibility, and provides a comprehensive structured narrative review of the academic literature on the topic. It examines the drivers of CA, its varied manifestations across industries and countries, and its outcomes for businesses, while highlighting the limited evidence regarding societal outcomes. The review identifies key research gaps, including the need for deeper insights into CA’s societal effects, the role of national and industry-specific factors, and the alignment of corporate values with activist actions. Future research is also encouraged to explore the connections between CA and emerging developments, particularly in the context of geopolitical and military conflicts.