Back, Kerry E.; Collin-Dufresne, Pierre; Fos, Vyacheslav; … - 2018
equilibrium in closed form for a general activism technology, including both binary and continuous outcomes. Variation in … activism technology and model parameters. Two results that contrast with the previous literature are that (a) the relation … between market liquidity and economic efficiency is independent of the activist's initial stake for a broad set of activism …