Recent advances in research on hedge fund activism: Value creation and identification

dc.contributor.author	Brav, Alon
dc.contributor.author	Jiang, Wei
dc.contributor.author	Kim, Hyunseob
dc.date.accessioned	2015-05-06T16:26:04Z
dc.date.available	2015-05-06T16:26:04Z
dc.date.issued	2015-12
dc.description.abstract	Hedge fund activism has emerged as a major force of corporate governance since the 2000s. By the mid-2000s, there were between 150–200 activist hedge funds in action each year, advocating for changes in 200–300 publicly listed companies in the U.S. In this paper, we review the evolution and major characteristics of hedge fund activism, as well as the short- and long-term impact of such activities on the performance and governance of the targeted companies. Though most of the analyses are based on a comprehensive sample of over 2,000 activism events in the U.S. from 1994 to 2011, hand-collected by the authors from regulatory filings and news searches, this paper covers all major studies on the topic, including those on non-U.S. markets.	en_US
dc.identifier.citation	As of May 2015: Forthcoming, Annual Review of Financial Economics, Vol. 7, December 2015	en_US
dc.identifier.uri	https://hdl.handle.net/1813/40129
dc.language.iso	en_US	en_US
dc.publisher	Annual Review of Financial Economics	en_US
dc.subject	Shareholder Activism	en_US
dc.subject	Corporate Governance	en_US
dc.subject	Productivity	en_US
dc.title	Recent advances in research on hedge fund activism: Value creation and identification	en_US
dc.type	article	en_US

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