Empirical Finance Research Blog has a review of a new paper, Repurchases, Reputation, and Returns, which finds that long-run stock returns are higher for companies announcing buybacks that had substantially completed a previous buyback. In other words, companies with a track record for following through on announced buybacks enjoy higher returns following a subsequent buyback [...]
Archive for the ‘Catalysts’ Category
Entrepreneurial Shareholder Activism: Hedge Funds and Other Private Investors
Posted in About, Activist Investors, Catalysts, Greenbackd, Stocks, tagged Activist investment on March 18, 2009 | 1 Comment »
In a paper published in February this year, Entrepreneurial Shareholder Activism: Hedge Funds and Other Private Investors, April Klein and Emanuel Zur examine recent “confrontational activism campaigns” by “entrepreneurial shareholder activists” and conclude that such strategies generate “significantly positive market reaction for the target firm around the initial Schedule 13D filing date” and “significantly positive [...]
Ramius Capital’s white paper: The case for activist strategies
Posted in About, Activist Investors, Catalysts, Greenbackd, tagged Activist investment, Ramius Capital on January 16, 2009 | 1 Comment »
The New York Times’ Dealbook has a copy of Ramius Capital’s recent white paper, The case for activist strategies. The paper seeks to explain how activist investment strategies create shareholder value and improve corporate governance by resolving conflicts of interest between shareholders, directors and management. Perhaps most interesting for Greenbackd readers is the paper’s discussion [...]

