Most U.S. public companies have a single class of voting common shares: voting power is proportional to economic ownership. Linking votes to shares is...
We look at the reaction to hedge fund activism of managers and shareholders in Japanese firms and explore the implications of our findings for agency...
The paper analyzes 362 European activist interventions by hedge funds, focus funds and other activist investors from 2000 to 2008. The sample includes...
We show that the majority of hedge fund activism campaigns occur in clusters by industry and time. Activism waves are explained by poor and deteriorating...
We provide the first systematic evidence of contractual innovation in the terms of poison pill plans. In response to the increase in hedge fund activism,...
This article discusses the policy response to hedge funds activism in corporate governance based on Hirschman?s classic: Exit, Voice and Loyalty. From...