Institutional investor activism: hedge funds and private equity, economics and regulation

ed. by William W. Bratton and Joseph A. McCahery

The role of the hostile activist shareholder has been taken up by a set of hedge funds. Hedge fund activism is characterized by mergers and corporate restructuring, replacement of management and board members, proxy voting, and lobbying of management. These investors target and research companies, take large positions in their stock, criticize their business plans and governance practices, and confront their managers, demanding action enhancing shareholder value. This book analyses the impact of activists on the companies that they invest, the effects on shareholders and on activists funds themselves. Chapters examine such topic as investors' strategic approaches, the financial returns they produce, and the regulatory frameworks within which they operate. The chapters also provide historical context, both of activist investment and institutional shareholder passivity. The volume facilitates a comparison between the US and the EU, juxtaposing not only regulatory patterns but investment styles.-- Back cover

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Year of publication:	2015
Other Persons:	Bratton, William W. (contributor) ; McCahery, Joseph A. (contributor)
Publisher:	Oxford [u.a.] : Oxford Univ. Press
Subject:	Institutioneller Investor \| Institutional investor \| Hedgefonds \| Hedge fund \| Private Equity \| Private equity \| Shareholder Value \| Shareholder value \| Corporate Governance \| Corporate governance \| Regulierung \| Regulation \| Vergleich \| Comparison \| EU-Staaten \| EU countries \| USA \| United States \| Europäische Union \| Institutioneller Anleger \| Hedge Fund \| Shareholder-Value-Analyse
Description of contents:	Table of Contents [gbv.de]

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Extent:	XXXI, 781 S. graph. Darst.
Conferences:	Conference ; (Amsterdam) : 2007.03
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Konferenzschrift ; Sammelwerk ; Collection of articles of several authors
Language:	English
Notes:	Enth. 21 Beitr. Introduction / William W. Bratton and Joseph A. McCaheryThe evolution of shareholder activism in the United States / Stuart Gillan and Laura T. Starks -- The myth of the shareholder franchise / Lucian A. Bebchuk -- Shareholder activism through proxy proposals : the European perspective / Peter Cziraki, Luc Renneboog and Peter G. Szilagyi -- Hedge funds in corporate governance and corporate control / Marcel Kahan and Edward Rock -- The rise and fall (?) of shareholder activism by hedge funds / John Armour and Brian Cheffins -- Returns to shareholder activism : evidence from a clinical study of the Hermes Focus Fund / Marco Becht, Julian Franks, Colin Mayer and Stefano Rossi -- Hedge fund activism, corporate governance and corporate performance / Alon Brav, Wei Jiang, Frank Partnoy and Randall Thomas -- Entrepreneurial shareholder activism : hedge funds and other private investors / April Klein and Emanuel Zur -- Debt, equity and hybrid decoupling : corporate governance and systemic risk implications / Henry T.C. Hu and Bernard S. Black -- Common pools, common disasters and the anti-commons : hedge fund activity in corporate reorganizations / Douglas Baird and Robert K. Rasmussen -- Hedge funds and Chapter 11 / Wei Jiang, Kai Li and Wei Wang -- Leveraged buyouts and private equity / Steven N. Kaplan and Per Stromberg -- Performance of buyout funds revisited / Ludovic Phalippou -- Hedge fund regulation and governance / Douglas Cumming, Na Dai, and Sofia A. Johan -- The limits of EU hedge fund regulation / Dan Awrey -- Recasting private equity funds after the financial crisis : the end of 'Two and Twenty' and the emergence of co-Investment and separate account arrangements / Joseph A. McCahery and Erik P.M. Vermeulen -- The law and economics of blockholder disclosure / Lucian A. Bebchuk and Robert J. Jackson, Jr. -- The destructive ambiguity of federal proxy access / Jill E. Fisch -- The case against shareholder empowerment / William W. Bratton and Michael L. Wachter.
ISBN:	978-0-19-872394-3 ; 978-0-19-872393-6 ; 0-19-872394-6
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011325932