Companies implementing social responsibility plans are twice as likely to enter activist hedge funds crosshairs as firms that are not addressing these issues. But management teams that are truly serious, not just greenwashing, about environmental, governance and other impact goals, may be able to avoid luring activists, according to new academic research from Rodolphe Durand of HEC Paris, Mark Desjardine of Pennsylvania State University and Emilio Marti of Rotterdam School of Management, writes Institutional Investor.