This chapter surveys the recent empirical literature and adds to the evidence on takeover
bids for US targets, 1980–2005. The availability of machine readable transaction databases …

In the corporate finance tradition, starting with Berle and Means (1932), corporations should
generally be run to maximize shareholder value. The agency view of corporate social …

The purpose of this study is to examine the relationship between voluntary sustainability
reporting and firm value, as measured by Tobin's q. We test three main hypotheses …

We investigate how firms react to their product-market peers' commitment to and adoption of
corporate social responsibility (CSR) using a regression discontinuity design approach …

This study examines the impact of ESG (environmental, social and governance) practices on
financial performance for a sample of MSCI World Islamic Index firms over the period 2010 …

This study investigates whether a private firm's decision to go public affects the IPO
decisions of its competitors. Using detailed data from the drug development industry, we …

Using a large sample of US public companies, we find robust evidence that firms' payout
policies, ie, dividends and share repurchases, are significantly influenced by the policies of …

Hedge fund activism is associated with improvements in the governance and performance of
targeted firms. In this article, we show that these positive effects of activism reach beyond the …

Using industry-based ratings which aggregate the scandals of a firm on a yearly basis for
5,700 companies from 44 countries, and a hybrid panel data model which allows us to …

We examine the product market spillover effects of hedge fund activism (HFA) on the
industry rivals of target firms. HFA has negative real and stockholder wealth effects on the …