Governance Under the Gun: Spillover Effects of Hedge Fund Activism
The lead article in Volume 23, Issue 6 of the Review of Finance is Governance Under the Gun: Spillover Effects of Hedge Fund Activism by Nickolay Gantchev, Oleg Gredil and Chotibhak Jotikasthira. This paper finds that the threat of hedge fund activism spurs non-targeted companies to improve profitability and valuations, increase payout, and reduce capital expenditure and cash holdings. … Read more...