The growth of the asset management industry has made it commonplace for firms to have multiple institutional blockholders. In such firms, the strength...
The traditional focus of corporate law is on aligning managers’ preferences with the interests of shareholders. We show that this view is premised on...
The paper analyzes 362 European activist interventions by hedge funds, focus funds and other activist investors from 2000 to 2008. The sample includes...
We develop a dual-layered agency model to study blockholder monitoring by activist funds that compete for investor flow. Competition for flow affects...
Hedge funds have become active in corporate governance. They push for changes in strategy and the adoption of specific business plans. Their tactics...
This paper describes different forms of ownership across countries and how these forms influence the way companies are governed. In most stock markets...
Using natural language processing, we identify and categorize the corporate goals in the shareholder letters of the 150 largest companies in the United...
We examine recent confrontational shareholder activism campaigns by hedge funds and by other private investors. The three main parallels between the...
The forthright brand of shareholder activism hedge funds deploy became during the 2000s a significant feature of Canadian corporate governance. This...