Entrepreneurial Shareholder Activism: Hedge Funds and Other Private Investors

By April Klein, Emanuel Zur. 2009

801 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/8501c888fc2f7f02e3e87fa816972dd2893cd943

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Citations in the corpus

The 'Wall Street Walk' and Shareholder Activism: Exit as a Form of Voice (2007, positive): “Using 13D and other filings over various periods of time, Klein and Zur (2009) and Brav et al. (2006) suggest that hedge funds help reduce agency costs and that their activism increases firm value.”
The Effect of Liquidity on Governance (2011, background): “Third, it is typically accompanied by credit downgrades (Klein and Zur (2011)), higher bank loan spreads, and shorter bank loan maturities (both Li and Xu (2009)).”
Corporate Governance and Institutional Ownership (2010, neutral): “14Brav, Jiang, Partnoy, and Thomas (2008) and Klein and Zur (2009) find significant abnormal returns around the announcement of shareholder activism.”
Shareholder Activism and CEO Pay (2011, result): “In line with other hedge fund studies, Klein and Zur (2009b) define as activism event any case where a hedge fund files a Schedule 13D form with the SEC reporting the purchase of more than 5% of equity of a publicly traded firm with the intent of influencing the firm’s management at the time of the ”
Do long-term investors improve corporate decision making? (2017, background): “Other investors choose to voice their dissatisfaction to management, in private or public (Holderness and Sheehan (1985), Barclay and Holderness (1991), Bethel, Liebeskind, and Opler (1998), Brav, Jiang, Partnoy, and Thomas (2008), and Klein and Zur (2009)).”
Corporate governance and hedge fund activism (2011, positive): “Although their samples and time frames differ significantly from ours, these success rates are comparable to those cited by Brav et al. (2008) and Klein and Zur (2009) .”
A Corporate Culture Channel: How Increased Shareholder Governance Reduces Firm Value (2013, background): “…or the colloquial " Wall Street Walk, " can be a form of shareholder governance (Admati and Pfleiderer (2009)) as can activities such as face-to-face meetings, shaming of management through publicized lists of worst managers, and organized media campaigns against management (Klein and Zur (2009)).”