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Full-Text Articles in Law
An Empirical Investigation Of Third Party Consumer Litigant Funding, Ronen Avraham, Anthony Sebok
An Empirical Investigation Of Third Party Consumer Litigant Funding, Ronen Avraham, Anthony Sebok
Cornell Law Review
No abstract provided.
Activist Directors And Agency Costs: What Happens When An Activist Director Goes On The Board, John C. Coffee Jr., Robert J. Jackson Jr., Joshua R. Mitts, Robert E. Bishop
Activist Directors And Agency Costs: What Happens When An Activist Director Goes On The Board, John C. Coffee Jr., Robert J. Jackson Jr., Joshua R. Mitts, Robert E. Bishop
Cornell Law Review
We develop and apply a new and more rigorous methodology by which to measure and understand both informed trading and the agency costs of hedge fund activism. We use quantitative data to show a systematic relationship between the appointment of a hedge fund-nominated director to a corporate board and an increase in informed trading in that corporation's stock (with the relationship being most pronounced when the fund's slate of directors includes a hedge fund employee). This finding is important from two different perspectives. First, from a governance perspective, activist hedge funds represent a new and potent force in corporate governance. …