Die Bestimmung geeigneter Transparenzniveaus von Private Equity Funds (PE) und aktivistischen Hedge Funds (HF) sowie deren Fähigkeit, einen aktiven Managementbeitrag zur Wertentwicklung der Portfoliounternehmen zu leisten, werden in Theorie und Praxis kontrovers diskutiert. Den Zusammenhang...

"Hedge fund activism is an expression of shareholder primacy, an idea that has come to dominate discussion of corporate governance theory and practice worldwide over the past two decades. This book provides a thorough examination of public and often confrontational hedge fund activism in Japan...

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...

We provide the first examination of hedge fund boards and their directors. The majority of directorships are held by extremely busy independent directors. These directors are sought after by funds because they have more reputational capital at stake, making them independent and credible monitors...

Using a parsimonious measure of investor protection constructed from fund organizational characteristics, this paper documents that companies targeted by activists with better investor protection structures outperform those targeted by poor-investor-protection activists by roughly 10% per year....