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Hedge Fund Activism

Hedge Fund Activism PDF Author: Alon Brav
Publisher: Now Publishers Inc
ISBN: 1601983387
Category : Business & Economics
Languages : en
Pages : 76

Book Description
Hedge Fund Activism begins with a brief outline of the research literature and describes datasets on hedge fund activism.

Hedge Fund Activism

Hedge Fund Activism PDF Author: Alon Brav
Publisher: Now Publishers Inc
ISBN: 1601983387
Category : Business & Economics
Languages : en
Pages : 76

Book Description
Hedge Fund Activism begins with a brief outline of the research literature and describes datasets on hedge fund activism.

The Oxford Handbook of Hedge Funds

The Oxford Handbook of Hedge Funds PDF Author: Douglas Cumming
Publisher: Oxford University Press
ISBN: 0198840950
Category : Business & Economics
Languages : en
Pages : 577

Book Description
This handbook provides a comprehensive look at the hedge fund industry from a global perspective.

Institutional Investor Activism

Institutional Investor Activism PDF Author: William W. Bratton
Publisher: Oxford University Press
ISBN: 0198723938
Category : Business & Economics
Languages : en
Pages : 817

Book Description
The past two decades has witnessed unprecedented changes in the corporate governance landscape in Europe, the US and Asia. Across many countries, activist investors have pursued engagements with management of target companies. More recently, the role of the hostile activist shareholder has been taken up by a set of hedge funds. Hedge fund activism is characterized by mergers and corporate restructuring, replacement of management and board members, proxy voting, and lobbying of management. These investors target and research companies, take large positions in their stock, criticize their business plans and governance practices, and confront their managers, demanding action enhancing shareholder value. This book analyses the impact of activists on the companies that they invest, the effects on shareholders and on activists funds themselves. Chapters examine such topic as investors' strategic approaches, the financial returns they produce, and the regulatory frameworks within which they operate. The chapters also provide historical context, both of activist investment and institutional shareholder passivity. The volume facilitates a comparison between the US and the EU, juxtaposing not only regulatory patterns but investment styles.

Hedge Fund Activism in Japan

Hedge Fund Activism in Japan PDF Author: John Buchanan
Publisher: Cambridge University Press
ISBN: 1107379318
Category : Business & Economics
Languages : en
Pages : 389

Book Description
Hedge fund activism is an expression of shareholder primacy, an idea that has come to dominate discussion of corporate governance theory and practice worldwide over the past two decades. This book provides a thorough examination of public and often confrontational hedge fund activism in Japan in the period between 2001 and the full onset of the global financial crisis in 2008. In Japan this shareholder-centric conception of the company espoused by activist hedge funds clashed with the alternative Japanese conception of the company as an enduring organisation or a 'community'. By analysing this clash, the book derives a fresh view of the practices underpinning corporate governance in Japan and offers suggestions regarding the validity of the shareholder primacy ideas currently at the heart of US and UK beliefs about the purpose of the firm.

The Wolf at the Door

The Wolf at the Door PDF Author: John C. Coffee
Publisher:
ISBN: 9781680830767
Category : Corporate governance
Languages : en
Pages : 108

Book Description
The Wolf at the Door: The Impact of Hedge Fund Activism on Corporate Governance has three basic aims: to understand and explain the factors that have caused an explosion in hedge fund activism; to examine the impact of this activism; and to survey and evaluate possible legal interventions with an emphasis on the least restrictive alternative.

Grow the Pie

Grow the Pie PDF Author: Alex Edmans
Publisher: Cambridge University Press
ISBN: 1009062719
Category : Business & Economics
Languages : en
Pages : 541

Book Description
Should companies be run for profit or purpose? This book shows how they can deliver both-based on rigorous evidence and an actionable framework. This edition, updated to include the pandemic and latest research, explains how managers, investors and citizens can put purpose into practice-and overcome the difficult trade-offs that hold them back.

Shareholder Empowerment

Shareholder Empowerment PDF Author: Maria Goranova
Publisher: Springer
ISBN: 1137373938
Category : Business & Economics
Languages : en
Pages : 519

Book Description
In this volume, leading management experts offer critical insights into the promises and illusions of shareholder empowerment, the discrepancies between theory and practice, and the challenges posed by variations in global corporate governance regimes.

Dear Chairman

Dear Chairman PDF Author: Jeff Gramm
Publisher: HarperCollins
ISBN: 0062369849
Category : Business & Economics
Languages : en
Pages : 263

Book Description
A sharp and illuminating history of one of capitalism’s longest running tensions—the conflicts of interest among public company directors, managers, and shareholders—told through entertaining case studies and original letters from some of our most legendary and controversial investors and activists. Recent disputes between shareholders and major corporations, including Apple and DuPont, have made headlines. But the struggle between management and those who own stock has been going on for nearly a century. Mixing never-before-published and rare, original letters from Wall Street icons—including Benjamin Graham, Warren Buffett, Ross Perot, Carl Icahn, and Daniel Loeb—with masterful scholarship and professional insight, Dear Chairman traces the rise in shareholder activism from the 1920s to today, and provides an invaluable and unprecedented perspective on what it means to be a public company, including how they work and who is really in control. Jeff Gramm analyzes different eras and pivotal boardroom battles from the last century to understand the factors that have caused shareholders and management to collide. Throughout, he uses the letters to show how investors interact with directors and managers, how they think about their target companies, and how they plan to profit. Each is a fascinating example of capitalism at work told through the voices of its most colorful, influential participants. A hedge fund manager and an adjunct professor at Columbia Business School, Gramm has spent as much time evaluating CEOs and directors as he has trying to understand and value businesses. He has seen public companies that are poorly run, and some that willfully disenfranchise their shareholders. While he pays tribute to the ingenuity of public company investors, Gramm also exposes examples of shareholder activism at its very worst, when hedge funds engineer stealthy land-grabs at the expense of a company’s long term prospects. Ultimately, he provides a thorough, much-needed understanding of the public company/shareholder relationship for investors, managers, and everyone concerned with the future of capitalism.

The Foundations and Anatomy of Shareholder Activism

The Foundations and Anatomy of Shareholder Activism PDF Author: Iris H-Y Chiu
Publisher: Bloomsbury Publishing
ISBN: 1847316042
Category : Law
Languages : en
Pages : 204

Book Description
The Foundations and Anatomy of Shareholder Activism examines the landscape of contemporary shareholder activism in the UK. The book focuses on minority shareholder activism in publicly listed companies. It argues that contemporary shareholder activism in the UK is dominated by two groups; one, the institutional shareholders whose shareholder activism is largely seen as a driving force for good corporate governance, and two, the hedge funds whose shareholder activism is based on value extraction and exit. The book provides a detailed examination of both types of shareholder activism, and discusses critically the nature of, motivations for and consequences following both types of shareholder activism. The book then locates both types of shareholder activism in the theory of the company and the fabric of company law, and argues that institutional shareholder activism based on exercising a voice at general meetings is well supported in theory and law. The call for institutions to engage in more informal forms of activism in the name of 'stewardship' may bring about challenges to the current patterns of activism that institutions engage in. The book argues, however, that a more cautious view of hedge fund activism and the pattern of value extraction and exit should be taken. More empirical evidence is likely to be necessary, however, to weigh up the long terms benefits and costs of hedge fund activism.

Research Handbook on Shareholder Power

Research Handbook on Shareholder Power PDF Author: Randall S. Thomas
Publisher:
ISBN: 9781782546849
Category : Capitalists and financiers
Languages : en
Pages : 0

Book Description
Much of the history of corporate law has concerned itself not with shareholder power, but rather with its absence. Yet, as this Handbook shows, there have been major shifts in capital market structure that require a reassessment of the role and power of shareholders. This book provides a contemporary analysis of shareholder power and considers the regulatory consequences of changing ownership patterns around the world. Leading international scholars in corporate law, governance and financial economics address these central issues from a range of different perspectives including historical, contemporary, legal, economic, political and comparative.