Economics, Econometrics and Finance
4 years ago

Shareholder Activism Boosts Returns: Hermes UK Focus Fund Study

Review of Financial Studies
Returns to Shareholder Activism: Evidence from a Clinical Study of the Hermes UK Focus Fund
Marco Becht, Julian Franks, Colin Mayer, Stefano Rossi

Paper Summary

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The article "Returns to Shareholder Activism: Evidence from a Clinical Study of the Hermes UK Focus Fund" examines the impact of shareholder activism on financial returns. The researchers studied the Hermes UK Focus Fund to see how activism affected shareholder value. They found that companies targeted by shareholder activism experienced positive abnormal returns, indicating that activism can lead to improved financial performance.