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date: 01 October 2020

Abstract and Keywords

Hedge funds are now considered as a related—and distinctive—form of active investor. This chapter shows how hedge funds have become critical players within the financial market, of which they comprised more than $2 trillion in market value during the last few months of 2011. It discusses the evolution of hedge fund activism, its implications for corporate governance, and the nature of hedge fund activism. It differentiates hedge fund activism from the activism of traditional institutional investors, venture capital funds, and private equity funds. The chapter also studies the short- and long-term effects of hedge fund activism on firm performance, corporate governance, and value.

Keywords: hedge funds, active investors, financial market, hedge fund activism, firm performance, corporate governance

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