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Recent Advances in Research on Hedge Fund Activism: Value Creation and Identification

Publication ,  Journal Article
Brav, A; Jiang, W; Kim, H
Published in: Annual Review of Financial Economics
December 7, 2015

Hedge fund activism emerged as a major force of corporate governance in the 2000s. By the mid-2000s, there were between 150 and 200 activist hedge funds in action each year, advocating for changes in 200-300 publicly listed companies in the United States. In this article, we review the evolution and major characteristics of hedge fund activism, as well as the short- and long-term impacts of the performance and governance of targeted companies. Though most of the analyses here are based on a comprehensive sample of over 2,000 activism events in the United States from 1994 to 2011, hand-collected by the authors from regulatory filings and news searches, this article covers all major studies on the topic, including those on markets outside of the United States.

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Published In

Annual Review of Financial Economics

DOI

EISSN

1941-1375

ISSN

1941-1367

Publication Date

December 7, 2015

Volume

7

Start / End Page

579 / 595

Related Subject Headings

  • 3502 Banking, finance and investment
 

Citation

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Brav, A., Jiang, W., & Kim, H. (2015). Recent Advances in Research on Hedge Fund Activism: Value Creation and Identification. Annual Review of Financial Economics, 7, 579–595. https://doi.org/10.1146/annurev-financial-111914-041751
Brav, A., W. Jiang, and H. Kim. “Recent Advances in Research on Hedge Fund Activism: Value Creation and Identification.” Annual Review of Financial Economics 7 (December 7, 2015): 579–95. https://doi.org/10.1146/annurev-financial-111914-041751.
Brav A, Jiang W, Kim H. Recent Advances in Research on Hedge Fund Activism: Value Creation and Identification. Annual Review of Financial Economics. 2015 Dec 7;7:579–95.
Brav, A., et al. “Recent Advances in Research on Hedge Fund Activism: Value Creation and Identification.” Annual Review of Financial Economics, vol. 7, Dec. 2015, pp. 579–95. Scopus, doi:10.1146/annurev-financial-111914-041751.
Brav A, Jiang W, Kim H. Recent Advances in Research on Hedge Fund Activism: Value Creation and Identification. Annual Review of Financial Economics. 2015 Dec 7;7:579–595.

Published In

Annual Review of Financial Economics

DOI

EISSN

1941-1375

ISSN

1941-1367

Publication Date

December 7, 2015

Volume

7

Start / End Page

579 / 595

Related Subject Headings

  • 3502 Banking, finance and investment