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Cited by 264

The DOI matches its Crossref record; 40 of the 40 references it cites were found in a registry or an index.

Returns to Hedge Fund Activism: An International Study

Open access
Becht, Marco, Franks, Julian, Grant, Jeremy, Wagner, Hannes F.·2017·The Review of Financial Studies
DOI 10.1093/rfs/hhx048
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Abstract

This paper provides evidence on the incidence, characteristics, and performance of activist engagements across countries.We find that the incidence of activism is greatest with high institutional ownership, particularly for U.S. institutions.We use a sample of 1,740 activist engagements across 23 countries and find that almost one-quarter of engagements are by multi-activists engaging the same target.These engagements perform strikingly better than single activist engagements.Engagement outcomes, such as board changes and takeovers, vary across countries and significantly contribute to the returns to activism.Japan is an exception, with high initial expectations and low outcomes.(JEL G32)

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Metadata

Authors
Becht, M., Franks, J., Grant, J., & Wagner, H. F.
Venue
The Review of Financial Studies
Publisher
Oxford University Press (OUP)
Published
2017-06-20
Volume
30
Issue
9
Pages
2933-2971
ISSN
  • 0893-9454 (ISSN-L)
  • 1465-7368
DOI
10.1093/rfs/hhx048
OpenAlex
W3121902957
Cited by
264
References
40
FWCI
72.70
Type
journal article
Language
en
Open access
bronze

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CoChat. (2026). Citation check: Returns to Hedge Fund Activism: An International Study. https://app.cochat.ai/papers/10.1093/rfs/hhx048
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Becht, M., Franks, J., Grant, J., & Wagner, H. F. (2017). Returns to Hedge Fund Activism: An International Study. The Review of Financial Studies. https://doi.org/10.1093/rfs/hhx048

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

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