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dc.rights.licenseopenen_US
dc.contributor.authorBEN ARFA, Nouha
dc.contributor.authorKARMANI, Majdi
hal.structure.identifierLaboratoire d'analyse et de recherche en économie et finance internationales [Larefi]
dc.contributor.authorLABARONNE, Daniel
dc.date.accessioned2022-06-01T15:09:10Z
dc.date.available2022-06-01T15:09:10Z
dc.date.issued2017-12
dc.identifier.issn0275-5319en_US
dc.identifier.urioai:crossref.org:10.1016/j.ribaf.2017.07.068
dc.identifier.urihttps://oskar-bordeaux.fr/handle/20.500.12278/140131
dc.description.abstractEnThis article seeks to examine the antecedents of hedge fund (HF) activism in the French context, an area that remains underresearched in contexts outside the US. We focus on the following question: What are the antecedents of hedge fund activism in French listed firms? Hedge funds pursuing activist strategies tend to reduce management discretion in order to improve wealth creation in target firms. Since large shareholders can expropriate minority shareholders by neutralizing governance mechanisms which attempt to discipline management, we focus on the relationship between corporate governance and hedge fund activism in French listed target firms. Drawing on a total population of 36 French listed firms from 1998 to 2013, we propose a model based on an integrated approach to take into account the specificity of the French context. We find a significant relationship between the probability that a firm is targeted by a HF and determinants of HF activism, such as voting rights concentration, institutional and employee voting rights, firm size, debt ratio, operating performance, quality of information disclosure, proportion of independent directors and CEO duality.
dc.language.isoENen_US
dc.sourcecrossref
dc.subject.enHedge funds
dc.subject.enActivism
dc.subject.enCorporate governance
dc.title.enAntecedents of hedge fund activism in French listed target firms
dc.typeArticle de revueen_US
dc.identifier.doi10.1016/j.ribaf.2017.07.068en_US
dc.subject.halÉconomie et finance quantitative [q-fin]en_US
bordeaux.journalResearch in International Business and Financeen_US
bordeaux.page1315-1326en_US
bordeaux.volume42en_US
bordeaux.hal.laboratoriesLaboratoire d'analyse et de recherche en économie et finance internationales (LAREFI) - EA2954en_US
bordeaux.institutionUniversité de Bordeauxen_US
bordeaux.institutionCNRS
bordeaux.peerReviewedouien_US
bordeaux.inpressnonen_US
bordeaux.import.sourcedissemin
hal.identifierhal-03684952
hal.version1
hal.date.transferred2022-06-01T15:09:12Z
hal.exporttrue
workflow.import.sourcedissemin
dc.rights.ccPas de Licence CCen_US
bordeaux.COinSctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.jtitle=Research%20in%20International%20Business%20and%20Finance&rft.date=2017-12&rft.volume=42&rft.spage=1315-1326&rft.epage=1315-1326&rft.eissn=0275-5319&rft.issn=0275-5319&rft.au=BEN%20ARFA,%20Nouha&KARMANI,%20Majdi&LABARONNE,%20Daniel&rft.genre=article


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