Hedge Fund Activism: A Review
64 Pages Posted: 25 Jun 2010
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Hedge Fund Activism: A Review
Hedge Fund Activism: A Review
Date Written: June, 25 2010
Abstract
This monograph reviews shareholder activism by hedge funds. We first describe the nature and characteristics of hedge fund activism, including the objectives, tactics, and choices of target companies. We then analyze possible value creation brought about by activist hedge funds, both for shareholders in the target companies and for investors in the hedge funds. The evidence generally supports the view that hedge fund activism creates value for shareholders by effectively influencing the governance, capital structure decisions, and operating performance of target firms.
Suggested Citation: Suggested Citation
Alon Brav
Duke University - Fuqua School of Business ( email )
100 Fuqua Drive
Durham, NC 27708-0120
United States
919-660-2908 (Phone)
919-684-2818 (Fax)
European Corporate Governance Institute (ECGI) ( email )
c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium
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