Institutional investors are predominant on the financial markets and are becoming more active in their portfolio management. This article attempts to enhance our understanding of the incidence of shareholder activism on market reaction in the wake of several previous American studies.Since 1999,...

Institutional investors are predominant on the financial markets and are becoming more active in their portfolio management. This article attempts to enhance our understanding of the incidence of shareholder activism on market reaction in the wake of seve

Empirical evidence on the link between financial structure and the firm value is examined. Event studies show the stock price response to securities with an equity component is negative. But this negative signal has to be balanced. Another event study shows that investment motives are not...

The question of the influence of ownership structure on corporate diversification strategy incites debate. Past research has led to controversial results whether it is based on agency theory, strategic approach or stewardship theory. We propose new empirical evidence by applying this question to...

Corporate social responsibility (CSR) disclosure has now become a key strategy issue for companies, thus raising the question of how CSR information impacts investor behaviour. This paper sets out to examine this topic using social reporting rankings generated by an independent body, the CFIE...