Hedge fund activists target firms engaging in empire building and improve their future
acquisition and divestiture strategy. Following intervention, activist targets make fewer …

We examine the impact of hedge fund interventions on target firms' strategic behavior,
specifically their voluntary disclosure and earnings management strategies. We find a …

Exploiting a hand-collected database with almost 2,200 firms during 1996–2014, I analyze
the relationship between the presence of poison pills and firm value. Consistent with earlier …

We develop a dual-layered agency model to study blockholder monitoring by activist funds
competing for investor flow. Competition for flow affects the manner in which activist funds …

We develop a dual-layered agency model to study blockholder monitoring by activist funds
that compete for investor flow. Competition for flow affects the manner in which activist funds …

This thesis consists of three essays on how corporations and banks incentivize their CEOs
and bankers to make optimal decisions under different settings. The first two essays are …

Shareholder activism has exploded in popularity since the turn of the century, due in large
part to impressive relative returns generated by its major participants. The result has thus …

Over the last 40 years, shareholder activism has been an important strategy that allows
hedge fund managers to influence the management of their portfolio companies using …

24 Introduction imposed only insider trading constraints. Meanwhile, in other countries
investor protection concerns brought hedge funds inside the regulated fold. Some countries …

This master dissertation examines the impact of hedge fund activism on the financial
performance of targeted firms during the financial crisis. I explore the wondrous world of …