The impact of separating cash flow and votes depends on the ownership structure. In widely held firms, one share - one vote is in general not optimal. While...
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...
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 fund activism refers to the phenomenon where hedge fund investors acquire a strict minority block of shares in a target firm and then attempt to...
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...