Determinants of hedge fund activism: development of a model of ex-ante decision-making for corporate stake

Les déterminants de l'activisme des hedge funds: élaboration d'un modèle de décision ex-ante de prise de participation

Quôc Thai Huynh ()
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Quôc Thai Huynh: CEREGE [Poitiers, La Rochelle] - Centre de recherche en gestion [EA 1722] - UP - Université de Poitiers = University of Poitiers - ULR - La Rochelle Université

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Abstract: Hedge fund activists are the new promoters of corporate governance through their sustained involvement in the capital of the targeted firms. They use their voting rights and have no fear to sit on the boards of directors to achieve their goals. The high idiosyncratic risk they bear, raises the question of the determinants of this ex-ante strategy of concentration. In this paper, we propose a model of ex-ante decision-making representing the different variables characterizing the choice of the target for the hedge funds.

Keywords: Shareholder activism; Corporate governance; Blockholders; Private benefits of control; Activisme actionnarial; Hedge funds; Gouvernance d'entreprise (search for similar items in EconPapers)
Date: 2019-06-02
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