Shareholder activism in the Untied States is by no means a new phenomenon. In the early
1900s, American financial institutions such as insurance companies, mutual funds, and …

This article reports a unique analysis of private engagements by an activist fund. It is based
on data made available to us by Hermes, the fund manager owned by the British Telecom …

A well-known, often-quoted Delaware opinion states that"[t] he shareholder franchise is the
ideological underpinning upon which the legitimacy of directorial power rests."'Similarly …

I examine the effects of shareholder activism by hedge funds from 1998–2005. When hedge
funds accumulate more than 5% of a firm, they must file a regulatory disclosure with the SEC …

We analyze the effects of heterogeneity across large shareholders, using a new blockholder-
firm panel dataset in which we can track all unique blockholders among large public firms in …

In recent years boards have become significantly more likely to implement non-binding,
majority-vote (MV) shareholder proposals. Using a sample of 620 MV proposals between …

This paper provides an overview of the literature on private equity and leveraged buyouts,
focusing on global evidence related to both governance and returns to private equity and …

Compared to mutual funds, hedge funds prefer smaller, opaque value securities, and have
higher turnover and more active share bets. Decomposing returns into three components …

We survey the empirical literature on disproportional ownership, ie the use of mechanisms
that separate voting rights from cash flow rights in corporations. Our focus is mostly on …

This article analyzes the relationship between the risk-adjusted performance of hedge funds
and their proximity to investments using data on Asia-focused hedge funds. I find, relative to …