The CEOs political activism in Brazil

• Grant number: 24/18567-1
• Support Opportunities: Regular Research Grants
• Start date: April 01, 2025
• End date: March 31, 2028
• Field of knowledge: Applied Social Sciences - Administration - Business Administration
• Principal Investigator: Marina Amado Bahia Gama
• Grantee: Marina Amado Bahia Gama
• Host Institution: Escola de Administração de Empresas de São Paulo (EAESP). Fundação Getúlio Vargas (FGV). São Paulo , SP, Brazil
• Associated researchers: Amon Narciso de Barros ; Caio César Coelho Rodrigues ; Cyntia Vilasboas Calixto

Abstract

The project addresses the growing involvement of Brazilian CEOs in political activism, exploring the public expression of business leaders on political and social issues. This phenomenon impacts several stakeholders, including employees, consumers, and the general public. The research seeks to understand the extent to which CEOs in Brazil engage in political activism and analyze the consequences for their organizations.The Trust Barometer (2023) findings are significant, revealing a high level of public trust in companies in Latin America. This implies a greater responsibility for their leaders. Notable CEOs such as Luciano Hang, Guilherme Benchimol, and Luiza Trajano are cited as examples of politically active leaders in Brazil. The concept of CEO political activism refers to their involvement in social debates, which can influence public policy, even though it falls outside their traditional role of profit maximization.The project focuses on three aspects of CEOs' political activism: Alignment: Activism should or should not reflect the values of the companies they lead. When well aligned, it can increase stakeholder trust. Personality: Differences in CEOs' personalities affect the form and impact of their activism, with factors such as power, celebrity, and narcissism playing significant roles. Communication Channels: The study will investigate how CEOs use social media and interviews to express their political positions.The project aims to broaden the understanding of political activism beyond lobbying and campaign donations, considering them as part of this activism when conducted legally and transparently in Brazil. The study is expected to analyze how CEO activism can either enhance or undermine the creation of corporate value, depending on its alignment with organizational values and stakeholders. The research can influence companies' internal policies on the role of executives on public platforms and assist investors in evaluating risks associated with political positions. The project will employ a mixed approach, including qualitative and quantitative analyses, with data collected from publicly traded companies in Brazil between 2010 and 2022. Statistical methods such as panel data regression and robustness tests will be used. Semi-structured interviews are also part of the method for capturing CEO experiences. The project anticipates challenges in accessing CEOs for interviews and collecting social media data, which will necessitate programming in Python. However, the project is prepared to overcome these challenges with previous experience in similar data collection. In summary, the project aims to deepen the understanding of political activism among CEOs in Brazil, its motivations, manifestations, and impacts, contributing to academic and practical debates on the social role of business leaders in emerging economies. (AU)