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Scoop.it!
We provide new evidence on the important and contentious question of whether interventions by activist investors add value to the targeted companies. Our large 
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Scoop.it!
Activist shareholders have an incentive to communicate and cooperate with other major shareholders. However, the impact of their activity on information flow surrounding targeted firms is largely unknown. We explore this aspect using a prolific proponent: labor unions. Following the mailing of proxies containing union-sponsored shareholder proposals, trading volume increases significantly and at-issue bond yield spreads of targeted firms are lower compared to matched firms. Subsequent difference-in-differences analyses show that stock prices of targeted firms become more informative as a result of activism, affirming the intuition that activism results in a reduction of differential information between outside investors.
Scoop.it!
This paper examines the interplay between takeover defenses and shareholder activism. Using a comprehensive sample of shareholder activism events between 2006 a
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Scoop.it!
Many investors and other stakeholders want to know that boards, along with their nominating and governance committees, are appropriately considering director nominees.
Scoop.it!
Shares of jail owners Corrections Corp. of America and GEO Group tanked Tuesday after Hillary Clinton said in the presidential debate that she applauded the end of private federal prisons and urged states to stop outsourcing as well.
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