Institutional Investor Activism By William Bratton – PDF

Institutional Investor Activism: Hedge Funds and Private Equity, Economics and Regulation – eBook PDF

The last two decades have witnessed unmatched changes in the corporate governance landscape in the US, Europe, and Asia. Across many countries, activist investors have followed engagements with the management of target companies.

More presently, the role of the hostile activist shareholder has been taken up by a group of hedge funds. Hedge fund activism is characterized by corporate and mergers restructuring, proxy voting, replacement of management and board members, and lobbying of management. These investors seek and research companies, take large positions in `their stock, complain about their business plans and governance practices, and oppose their managers, demanding action encouraging shareholder value.

Institutional Investor Activism (PDF) evaluates the impact of activists on the companies that they invest in, the effects on activists, and on shareholder funds themselves. Chapters explore topics like investors’ strategic approaches, the financial returns they produce, and the regulatory frameworks within which they function. The chapters also give historical context, both institutional shareholder passivity and activist investment. The volume enables a comparison between the US and the EU, juxtaposing not only regulatory patterns but investment styles.

Review

“Hedge fund activism and private equity have become essential for corporate governance in the present years. This ebook collects impressive papers from some of the most notable academics in the field, which is now richer for the authors and editors and authors.” — Mark J. Roe, David Berg Professor of Law, Harvard Law School

“It is an outstanding resource for financial and governance researchers who are interested in understanding the latest developments in the activism model embraced by hedge fund and private equity firms, along with empirical challenges to studying the effects of activists’ interventions on corporate governance and performance outcomes. Generally, I strongly recommend this ebook to anyone who is interested in gaining an understanding of the advent and inner workings of hedge fund activism, a new realism in corporate governance.” — The Accounting Review

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