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Asset divestment as a response to media attacks in stigmatized industries
2014
Strategic Management Journal
In stigmatized industries characterized by social contestation, hostile audiences, and distancing between industry insiders and outsiders, firms facing media attacks follow different strategies from firms in uncontested industries. Because firms avoid publicizing their tainted-sector membership, when threatened, they can respond by divesting assets from that industry. Our analyses of the arms industry demonstrate that media attacks on the focal firm and its peers both increase the likelihood of
doi:10.1002/smj.2280
fatcat:gik4wkswjnbunoq5wyeavzpu74