AN EXAMPLE-BASED, DIAGNOSTIC INVESTIGATION OF VALUE CREATION AND VALUE DESTRUCTION BY CORPORATE ACTIVISTS

Matei Gaburici ()
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Matei Gaburici: London School of Economics, University College London Graduate, matei.gaburici.11@ucl.ac.uk, London, United Kingdom

Journal of Public Administration, Finance and Law, 2014, vol. 5, issue 5, 49-51

Abstract: This paper investigates, through an example-based scenario, the extent to which corporate activists create or destroy shareholder value; there are five high-profile campaigns analyzed related to four major players. The foundation of the analysis is a variant of DCF model which examines the cash flows to equity. In 4 out of 5 cases the financial metrics are computed in order to assess the performance of the subject company ex-ante and ex-post activists� involvement.

Keywords: Shareholder value; value creation/ destruction; buyback; merger proposal; spin off; activism (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:aic:jopafl:y:2014:v:5:p:49-51

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