Research
Research in shareholder activism continues apace, both commercially and academically. Discover a collection of key studies on the subject compiled by Activist Insight.
Shareholder activism research
With as many as 900 public companies publicly subjected to investor demands each year, shareholder activism remains at the forefront of the corporate finance conversation. The ensuing demand for research prompts the release of a steady stream of papers on the topic, the most notable of which Activist Insight has compiled below.
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March 2021
Shareholder Activism Around the Globe: Hedge Funds vs. Other Professional Investors
Jochen Hartmann, Matthias Pelster and Soenke Sievers
March 27, 2018
Activist Arbitrage in M&A Acquirers
Wei Jiang,
Tao Li,
Danqing Mei
February 13, 2018
Does Hedge Fund Short-Termism Shape Up Merger Payment?
Ning Gao,
Olga Kolokolova,
Achim Mattes
February 12, 2018
Shareholder Activism in REITs
David H.
Downs, Miroslava Straska, H. Gregory Waller
November 1, 2017
Do Activists Turn Bad Bidders into Good Acquirers?
Nickolay Gantchev, Merih Sevilir, Anil Shivdasani
September 1, 2017
Analysts and Hedge Fund Activism
Ryan Flugum, John S. Howe
September 1, 2017
Good Activist/Bad Activist: The Rise of International Stewardship Codes
Jennifer G. Hill
July 14, 2017
The Dark Side of Hedge Fund Activism: Evidence from Employee Pension Plans
Anup Agrawal, Yuree Lim
July 6, 2017
Loyalty Shares – A Coasian Bargain? Evidence from the Loi Florange Experiment
Marco Becht, Yuliya Kamisarenka, Anete Pajuste
July 4, 2017
The drivers and consequences of settlement agreements in proxy fights
Michael Viner
April 5, 2017
The Decline of Social Entrenchment: Social Network Cohesion and Board Responsiveness to Shareholder Activism
Richard A. Benton
March 26, 2017
Post-apocalyptic: The real consequences of activist short selling
Rotman School of Management
January 27, 2017
Coordination and Monitoring in Changes of Control: The Controversial Role of “Wolf Packs” in Capital Markets
Osgoode Legal Studies
December 1, 2016
Are shareholder votes rigged?
Stockholm School of Economics
October 31, 2016
Activism mergers
University of North Carolina and Northeastern University
October 19, 2016
Activist Short Selling
Rotman School of Management
September 16, 2016
Preserving the corporate superego in a time of activism: an essay on ethics and economics
Columbia Law School
August 5, 2016
Corporate governance and shareholder activism in India —theoretical perspective
Theoretical Economics Letters
July 1, 2016
The activism agenda: What are activist investors looking for?
Credit Suisse
June 15, 2016
Weak governance by informed large shareholders
European Corporate Governance Institute
May 27, 2016
How Does Hedge Fund Activism Reshape Corporate Innovation?
National Bureau of Economic Research
April 12, 2016
Chinese “squeeze outs” in American stock markets
Heng Ren Partners
March 7, 2016
The long-term efficacy of activist directors
Harvard Business School
December 31, 2015
Investor activism effects in banking: Is activism beneficial for bank shareholders, creditors, and the public?
Federal Reserve Bank of Kansas City
December 8, 2015
Who else is affected by activist investors?
Kellogg Insight
November 11, 2015
Will activist investing awaken the sleeping giants?
Global Proxy Solicitation
November 19, 2015
The Shareholder Activists’ View: Part 2
FTI Consulting & Activist Insight
November 11, 2015
Shareholder activism in the UK
Activist Insight
October 31, 2015
The activists are coming – why 2016 will be the year of the activist in the UK marketplace
Teneo
October 23, 2015
Shareholder Activism and Voluntary Disclosure
Social sciences research network
October 21, 2015
Activism mergers
Social sciences research network
October 14, 2015
The Product Market Effects of Hedge Fund Activism
Georgia State University and University of Houston
September 30, 2015
Activist Hedge Funds and Firm Disclosure
Review of Financial Economics
September 22, 2015
Beyond governance
Norton Rose Fulbright
September 10, 2015
Investor Activism Effects in Banking: Is Activism Beneficial for Bank Shareholders, Creditors, and the Public?
Federal Reserve Bank of Kansas City
September 10, 2015
Investor Activism Effects in Banking: Is Activism Beneficial for Bank Shareholders, Creditors, and the Public?
Federal Reserve Bank of Kansas City
September 5, 2015
Top Management Turnover Under the Influence of Activist Investors
Otto Beisheim School of Management, Concordia University
September 4, 2015
The Wolf at the Door: The Impact of Hedge Fund Activism on Corporate Governance
Columbia Law School and Rutgers Business School
August 14, 2015
Activist Hedge Funds in a World of Board Independence: Creators or Destroyers of Long-Term Value?
R Street Institute
August 2, 2015
Top Hedge Funds: The Importance of Reputation in Shareholder Activism
Case Western Reserve University, University of San Diego School of Law and Vanderbilt University Law School
August 1, 2015
Corporate Governance and Hedge Fund Activism
The University of Texas at Dallas
June 1, 2015
Hedge Fund Activists: Do They Take Cues from Institutional Exit?
University of North Carolina
May 19, 2015
Activist Investing in Europe: An analysis by Activist Insight
Activist Insight Online
May 18, 2015
Thirty Years of Shareholder Activism: A Survey of Empirical Research
University of Washington and Villanova University
April 30, 2015
Active Firms and Active Shareholders: Corporate Political Activity and Shareholder Proposals
Columbia Law School, University of Virginia School of Law, and Vanderbilt University
March 2, 2015
The Returns to Hedge Fund Activism: An International Study
Université Libre de Bruxelles, London Business School, and Bocconi University
January 27, 2015
A Little Birdie Said: How Twitter Is Disrupting Shareholder Activism
Chicago-Kent College of Law
January 1, 2015
Grassroots Shareholder Activism in Large Commercial Bankruptcies
Seattle University School of Law
December 15, 2014
A Leximetric Approach to Comparative Corporate Governance: The Case of Hedge Fund Activism
King’s College London and The Dickson Poon School of Law
December 1, 2014
The Long-Term Effects of Hedge Fund Activism
Harvard Law School
December 1, 2014
Shareholder Power and Corporate Innovation: Evidence from Hedge Fund Activism
Duke University, Columbia Business School, and Indiana University
November 14, 2014
Does Hedge Fund ‘Activism’ Create Long Term Shareholder Value?
Institute for Governance of Private and Public Organizations
November 5, 2014
Activism in Europe, October 2014
Activist Insight
September 15, 2014
The Impact of Hedge Fund Activism: Evidence and Implications
Columbia Law School and Rutgers Business School
September 14, 2014
Myopic Investor Myth Debunked: The Long-Term Efficacy of Shareholder Advocacy in the Boardroom
Oklahoma State University and Spears School of Business
July 16, 2014
‘Activist’ Hedge Funds: Creators of Lasting Wealth? What Do the Empirical Studies Really Say?
Institute for Governance of Private and Public Organizations
July 1, 2014
Sovereign Shareholder Activism: How SWFs Can Engage in Corporate Governance
Ohio State University, Bocconi University, ESADE University Faculties, and Tufts University
March 31, 2014
Preparing for bigger, bolder shareholder activists
McKinsey
March 19, 2014
Hedge Fund Activism and Corporate Innovation
Brock University, McMaster University, and Shanghai University of Finance and Economics
March 1, 2014
An Evaluation of Shareholder Activism
Leonard N. Stern School of Business and New York University
January 17, 2014
Hedge Fund Activism Coming to Europe? Lessons from the American Experience
Université du Luxembourg and New York University
December 28, 2013
Hedge Funds versus Private Equity Funds as Shareholder Activists in Germany – Differences in Value Creation
Concordia University and Zeppelin University
November 1, 2013
The Preventive Effect of Hedge Fund Activism
Duke University
September 23, 2013
Shareholder Activism: A Multidisciplinary Review
University of Wisconsin and San Diego State University
September 1, 2013
The Myth that Insulating Boards Serves Long-Term Value
Harvard Law School
February 20, 2013
Missing the Forest for the Trees: A New Approach to Shareholder Activism
Harvard Law School