The second wave of hedge fund activism: The importance of reputation, clout, and expertise
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- 作者：C.N.V. Krishnana ; Frank Partnoyb ; Randall S. Thomasc ; randall.thomas@Law.Vanderbilt.edu" class="auth_mail" title="E-mail the corresponding author
- 关键词：Hedge funds ; Shareholder activism ; Hedge fund reputation ; Proxy fights ; Lawsuits ; Post-intervention performance
- 刊名：Journal of Corporate Finance
- 出版年：2016
- 出版时间：October 2016
- 年：2016
- 卷：40
- 期：Complete
- 页码：296-314
- 全文大小：356 K
文摘
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Top activists have a reputation for what we label “clout and expertise.”
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Top activists have an ability to succeed in difficult interventions by targeting large firms.
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Top activists launch successful proxy fights, and file and win lawsuits.
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Top activists overcome anti-takeover defenses, and replace board members.
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Top activists successes appear to result from board representation and monitoring management.