Cahan, Steven F.Chen, ChenChen, Li2025-06-112025-06-110810-5391ORCID:/0000-0001-5726-5083/work/171156211http://www.scopus.com/inward/record.url?scp=85085579769&partnerID=8YFLogxKhttps://hdl.handle.net/1885/733758557Prior evidence suggests that, in contrast to European investors, local norms related to environmental and social (E&S) beliefs do not affect the willingness of US institutional investors to push for E&S improvements in US firms. We revisit this issue except, instead of measuring E&S social norms at the country level, we allow E&S social norms to vary between states. We find that the shareholdings of non-local US institutional investors from states with strong E&S social norms are positively related to E&S-related shareholder activism, indicating that local E&S social norms do matter for US institutional investors.36enPublisher Copyright: © 2020 Accounting and Finance Association of Australia and New ZealandCorporate social responsibilityInstitutional investorsShareholder activismSocial norms202110.1111/acfi.1264985085579769