@article{ref1,
title="Consumer response to corporate political statements: evidence from geolocation data",
journal="Social Science Research Network electronic library",
year="2020",
author="Painter, Marcus",
volume="2020",
number="",
pages="e3557961-e3557961",
abstract="I use Walmart's decision to discontinue sales of certain gun ammunition, ban open carry in stores, and encourage enactment of gun control policy as a setting to study how consumers respond when firms make political statements. Using smartphone-location data to measure foot traffic, I find store visits to Walmart decreased by 3.9% relative to local competitors after Walmart's statement. Traffic in highly Republican counties decreased by 8.5% but increased by 2.7% in highly Democratic counties. The effect persists throughout the post period in highly Republican counties. The results highlight the challenges of stakeholder capitalism amidst an increasingly polarized political landscape.<p /> <p>Language: en</p>",
language="en",
issn="1556-5068",
doi="10.2139/ssrn.3557961",
url="http://dx.doi.org/10.2139/ssrn.3557961"
}