Social and Environmental Shareholder Activism: Insights From a Systematic Review and a Conceptual Framework

This study seeks to review the existing literature on social and environmental (S&E) shareholder activism (SA) to trace its evolution, identify key areas of research, and develop a conceptual framework to understand how activist shareholders shape corporate approaches to S&E issues. Our review is based on the Scopus database and focuses on articles published in peer-reviewed journals within the Business, Management, and Accounting (BMA) disciplines. The study identifies the main thematic, geographical, methodological, and theoretical issues of the extant papers, revealing how S&E SA serves as a mechanism of influence within corporate governance and stakeholder relations. In addition, supported by an input–output analytical framework, the article culminates in the proposal of a conceptual model for studying S&E SA. This model captures the key dimensions influencing the phenomenon and provides a foundation for scholars seeking to explore how activist shareholders shape corporate approaches to S&E issues. In doing so, the article not only systematises the current knowledge base but also paves the way for a richer, more contextualised research agenda in the years to come.