Abstract. This article reviews shareholder activism by hedge funds. We first describe the nature and characteristics of hedge fund activism, including the objectives, tactics, and choices of target companies. We then analyze possible value creation brought about by activist hedge funds, both for shareholders in the target companies and for investors in the hedge funds. […]
Category: Investment
Stanford Rock Center Series on Shareholder Activism – How it Began and How It’s Reshaping Today’s Investment Landscape (Videos)
This is an excellent three-part series of videos of presentations made at the Stanford Rock Center on Corporate Governance, on the topic of shareholder activisn and how it has changed a lot in the last 15 years. The series provided a very up-to-date overview of proxy fights, PR wars and activist defense.
Two-Thirds of the Way Through the 2012 Proxy Season — Lessons Learned (Skadden Alert)
Skadden, Arps, Slate, Meagher & Flom LLP, publishedthe following client alert on June 21, 2012:
As we reach the peak of the 2012 proxy filing season, we are continuing to monitor the following developments:
What are the overall vote results?
Of the first 1,656 companies to report the results of say-on-pay proposals, approximately:
Varieties of Capitalism + Investments in Human Capital
This paper explores the relationship between national institutional archetypes and investments in training and development. A recent trend within the literature on comparative capitalism has been to explore the nature and extent of heterogeneity within the coordinated market economies (CMEs) of Europe. Based on a review of the existing comparative literature on training and development, […]
TSE Releases Public Comments Submitted Regarding its Corporate Governance Proposals to Restore Confidence in Markets
The Tokyo Stock Exchange (TSE) has releasedmost of the results of its recent public comment process regarding its ownproposed measures to restore public confidence to the securities markets. Because the TSE had only proposed that it publish a handbook to be given to outside board members, many comments focused on the need for the TSE to promulgate rules requiring director training or at least the disclosure of company policy abou it.
Japanese Shareholder Value: Aligning Human Capital and Financial Capital
Who is the Japanese shareholder? One image is the rapacious foreign financial investor who seeks to strip the fruits of decades of hard work and leaves a trail of corporate husks behind. While it is easy to anthropomorphize such a villain, the truth is more nuanced.
Nomura’s “Individual Investor Survey” Shows Big Change in Public Attitudes—> External Directors Are Needed
From Page 11 – 「 (8) Views on the appointment of external directors
For this month's spot question, we asked individual investors about their views on the appointment of external directors. On the issue of making the appointment of external directors mandatory, the highest proportion of respondents—32.4%—chose the answer appointing more than one clearly independent external director should be mandatory ….
“Toxic Assets: Nuclear Reactors in the 21st Century” (Report by Greenpeace/Banktrack)
Greenpeace and Banktrack have published a report entitled Toxic Assets: Nuclear Reactors in the 21st Century – Financing Reactors and the Fukushima Nuclear Disaster. The report has important ESG-related implications. The quoted parts below are from the web site publication page, the first page, and the Executive Summary:
Nomura’s AGM Preview – “Shareholder Attitudes Toward Independence…of Particular Interest”
Opportunity for Japanese companies to restore confidence in their governance
Recording of Expert Panel: ” After Olympus, What Do Foreign Investors Want Most From Japanese Companies?”
Regarding the expert panel event that BDTI recentlyorganized – After Olympus, What Do Foreign Investors Want Most From Japanese Companies? onMay 28, 16:00 —> For those who missed it, the recording to this event is available for the same price of the event (personal use only).
Contact: info@bdti.or.jp Event description: bdti.or.jp/english/node/371