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Essays in Hedge Fund Activism Networ...

ProQuest Information and Learning Co.

Essays in Hedge Fund Activism Networks and Corporate Governance.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Essays in Hedge Fund Activism Networks and Corporate Governance./
Author:	Foroughi, Pouyan.
Description:	1 online resource (151 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 79-04(E), Section: A.
Contained By:	Dissertation Abstracts International79-04A(E).
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9780355394542

Essays in Hedge Fund Activism Networks and Corporate Governance.
Foroughi, Pouyan.

Essays in Hedge Fund Activism Networks and Corporate Governance. - 1 online resource (151 pages)

Source: Dissertation Abstracts International, Volume: 79-04(E), Section: A.

Thesis (Ph.D.)--Boston College, 2017.

Includes bibliographical references

In the first essay, In this paper, I examine how the connections between activist hedge funds and other institutional investors affect the activist campaigns. I identify a positive causal effect of long-term relationships with other investors on the short-run and long-run performance of activists' target companies. Overall, my results highlight that connections to other institutional investors benefit institutional asset managers.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780355394542Subjects--Topical Terms:

559073
Finance.
Index Terms--Genre/Form:

554714
Electronic books.

Essays in Hedge Fund Activism Networks and Corporate Governance.
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035 $a AAI10607712
040 $a MiAaPQ $b eng $c MiAaPQ $d NTU
100 1 $a Foroughi, Pouyan. $3 1193594
245 1 0 $a Essays in Hedge Fund Activism Networks and Corporate Governance.
264 0 $c 2017
300 $a 1 online resource (151 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertation Abstracts International, Volume: 79-04(E), Section: A.
500 $a Adviser: Ronnie Sadka.
502 $a Thesis (Ph.D.)--Boston College, 2017.
504 $a Includes bibliographical references
520 $a In the first essay, In this paper, I examine how the connections between activist hedge funds and other institutional investors affect the activist campaigns. I identify a positive causal effect of long-term relationships with other investors on the short-run and long-run performance of activists' target companies. Overall, my results highlight that connections to other institutional investors benefit institutional asset managers.
520 $a In the second essay, we show that firms in the same board-interlock networks tend to have similar corporate governance practices. We utilize a novel instrument based on staggered adoptions of universal demand laws across states to identify causal peer effects in firms' decisions to adopt various governance provisions. The impact of universal demand laws on the incentives faced by directors as they seek to maximize their career outcomes is a likely mechanism explaining these effects.
520 $a In the third essay, I investigate whether hedge funds employ short sales to mask their exiting intention when they engage in shareholder activism. Using a hand-collected sample, I find that the probability of a spike in short interest before exit announcements is higher in firms targeted by activists who have a history of short interest increase in their previous targets. According to my findings, the hypothesis is that these hedge funds are more likely to use short sales since they are more concerned about locking their profit and not taking the risk of exit announcements. Overall, this paper provides new evidence of a possible exiting strategy: Silent Exiting via short selling.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Finance. $3 559073
655 7 $a Electronic books. $2 local $3 554714
690 $a 0508
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a Boston College. $b Finance. $3 1193595
773 0 $t Dissertation Abstracts International $g 79-04A(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10607712 $z click for full text (PQDT)

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