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...
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This paper provides evidence on the incidence, characteristics, and performance of activist engagements across countries. We find that the incidence...
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The last decade has challenged the paradigm of the hedge fund industry as a unique performer. We identify three main factors that have affected the...
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The most important phenomenon in the corporate world today is the swift and dramatic rise of the Environmental, Social, and Governance (“ESG”)...
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Shareholder activism by hedge funds has over the past few years become a major corporate governance phenomenon. This paper puts the trend into context....
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This chapter reviews the single high profile case in which twentieth century antitakeover law has come to bear on management defense against a...
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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...
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In July 2020, the European Commission published the “Study on directors’ duties and sustainable corporate governance” by EY. The Report...
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This is a draft chapter for a forthcoming volume, The Research Handbook on Shareholder Power, edited by Randall Thomas and Jennifer Hill...
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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,...
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Hedge fund activism is a new form of arbitrage. Using a large hand-collected data set from 2001 to 2006 we find that activist hedge funds in the U.S. propose...
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Hedge fund activism has increased almost hyperbolically. Some view this optimistically as a means for bridging the separation of ownership and...
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