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Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: Public protests, private lawsuits, and the market: The investor response to the McLibel case
Author(s): Vick, Douglas
Campbell, Kevin
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Issue Date: Jun-2001
Date Deposited: 27-Mar-2013
Citation: Vick D & Campbell K (2001) Public protests, private lawsuits, and the market: The investor response to the McLibel case. Journal of Law and Society, 28 (2), pp. 204-241.
Abstract: The tendency of English libel law to protect reputation at the expense of freedom of expression makes the United Kingdom a potentially attractive forum for retaliatory lawsuits against individuals and organizations who lobby or campaign against the interests of large companies. The most prominent recent example of such a lawsuit was the so-called 'McLibel' case, in which McDonald's Corporation sued protesters who had distributed anti-McDonald's leaflets outside some of the company's restaurants. The case is often cited as evidence that the risk of unfavourable publicity generated by retaliatory libel actions is a strong deterrent to using the libel laws to silence public opposition to corporate activities. This article uses a technique widely employed in financial economics research, the 'event study' method, to investigate whether the unanticipated bad publicity attracted by the McLibel case had a negative financial impact on McDonald's, such that future retaliatory lawsuits might be deterred.
DOI Link: 10.1111/1467-6478.00187
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