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e xtending    beyond      the   te xt                                            5
                          extending beyond the text

                        Professor Brayden King of Kellogg’s Management & Organizations department has      section two
                      researched what conditions are necessary for a successful protest. Read this except from a
                      blog post he wrote.                                                                  /

                          from  How Protests Matter
                        Brayden King                                                                       Dolores Huerta
                           A […] study of mine (coauthored with Sarah Soule) shows that protests generate information
                         that people use to evaluate their targets. We show that protests against corporations lead to a
                         .4 to 1% decline in the stock price of that company during a two-day window around the protest.
                         The result demonstrates that when activists protest, investors listen. The protests are generating
                         some type of information, which likely varies across protests, that makes investors worry about
                         the value of the asset. In some cases, the protest may cause investors to be concerned about the
                         soundness of a particular corporate policy or practice but in other cases they may interpret the
                         protest as a signal that consumers will be unhappy with the company. The point is that the
                         protest generates information and shifts public attention to a problem that prior to the protest
                         was ignored. If it wasn’t being ignored prior to the protest, then the price would never have
                         fluctuated because the information would already be reflected in the stock price. […]
                        Explain how Huerta might react to Professor King's conclusions.



                  Los Angeles, Jack Benton, who really helped   Robert Kennedy ran for the presidency back in
                  push that bill. [Governor] Reagan vetoed the bill   1968, farm workers who had a Robert Kennedy
                  four times. We first got it out of the Assembly   bumper sticker on their cars were immediately
                  back in 1961. I remember one of the farm   fired from their jobs. And they couldn’t take any
                  workers said at that hearing, “They are going to   kind of activity, like registering to vote, or do any
                  get a person to the moon before we get     political action because they were fired. So, when
                  unemployment insurance for farm workers,’’ and   you see where we are at now, we have come a
                  they did. A man landed on the moon before farm   long way in the changes that have been made.[…]
                  workers got unemployment insurance. Isn’t that     When we think of how the changes were
                  incredible? But we finally got unemployment   made, the way that you make change, social
                  insurance that we finally have now. And Cesar   change is so simple, but people don’t believe it.
                  said, “We won’t get unemployment insurance   You know I’ve been in the movement now since
                  until we organize the union.”              I was twenty-five years old, maybe some of you
                       There was a time when farm workers    are younger than I was then, and I look back and
                  couldn’t get any kind of welfare. Again, if they   I see all of the things we’ve done, and even to
                  were out of work, they couldn’t get it. Back in   myself it’s hard for me to believe how we made
                  1963, we did a big campaign and we got farm   the changes that we made and how we made
                  workers covered under welfare so if farm workers   them. The changes that were made were made
                  were out of work they could at least get welfare.   by people that were like the poorest of all, people
                  Of course they had no kind of job security. When   that didn’t know how to read or write, people
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                                Copyright © Bedford/St. Martin’s. Uncorrected proofs have been used in this sample chapter.
                                  Distributed by BFW Publishers. Strictly for use with its products. Not for redistribution.




          sheaall2e_24428_ch05_002_095.indd   35                                                       09/07/20   5:30 PM
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