Following the literature on test-specifications, correct-modeling, and detectability of long-run stock performance in event study framework, this study tests the performance of monthly stock returns of 589 firms targeted by 112 hedge funds over the period of January 2000 to December 2013. For an...

This study extends the empirical evidence of the impact of hedge fund activism on the targeted firm performance. I investigate whether activism strategies, as well as their effects, have changed following the recent financial crisis of 2007–2008. Using a sample based on the U.S. data...