“…Employees had to worry about their jobs for the same reason (Müssgens & Peitsmeier, 2016). The government saw their environmental regulations disregarded as well as major public health and environmental damage as a result of the excess NO x emissions (Chossière et al, 2017; Dey, Caulfield, & Ghosh, 2018; Holland, Mansur, Muller, & Yates, 2016; Oldenkamp, van Zelm, & Huijbregts, 2016; Tanaka, Lund, Aamaas, & Berntsen, 2018). These consequences led stakeholders to penalize VW with calls for boycotts (customers), penalty fines (government), and other means of stakeholder activism with implications for the stock price.…”