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 proprietary...Read more
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 funds engage in from...Read more
A new wave of financial regulation following the global financial crisis aims to curtail proprietary trading by systemically important financial...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
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
Short sellers have been cast as villains throughout history. Perhaps because of this sentiment, investors are often reluctant to disclose short...Read more
Index funds and indexed ETFs managed by the “Big Three” – BlackRock, Vanguard and State Street – have grown to be the largest investors in the...Read more
Mutual funds own approximately 30 percent of the U.S. equity market, and the Big Three fund families – Blackrock, Vanguard, and State Street – are...Read more