This paper studies the effect of stock liquidity on blockholder governance. Conditional upon acquiring a stake, liquidity reduces the likelihood that a blockholder governs through voice (intervention) – as shown by the greater...
This article examines the recent development of EU regulatory policy with respect to the alternative investment industry up to and including the adoption of a major new Directive. This Directive is just one part of a much larger package...
The paper analyzes 362 European activist interventions by hedge funds, focus funds and other activist investors from 2000 to 2008. The sample includes both public and private interventions. The private interventions are based upon...
Shareholder activism by hedge funds has over the past few years become a major corporate governance phenomenon. This paper puts the trend into context. The paper begins by distinguishing the “offensive” form of activism hedge...
Few doubt that hedge fund activism has radically changed corporate governance in the United States -- for better or for worse. Proponents see...Read more
Hedge fund activism is essentially a search by funds for investment returns by putting pressure on target firms to change their corporate...Read more
Hedge fund activism has become pervasive in today’s corporate landscape. In response to activist demands, targeted firms have been shown to raise...Read more
The growing influence of activists in today’s corporate landscape has prompted financial economists to investigate the drivers of shareholder...Read more
Over the past 20 years, hedge fund activism has become a powerful mechanism for influencing companies. Regulators, the business community, and the...Read more
Hedge funds have become active in corporate governance. They push for changes in strategy and the adoption of specific business plans. Their...Read more
The intense and sustained presence of hedge fund activists in many industries and markets makes it likely that activism produces effects beyond...Read more
