Abstracts - faqs.org

Abstracts

Business

Search abstracts:
Abstracts » Business

Shareholder activism by institutional investors: evidence from CalPERS

Article Abstract:

This study examines firm characteristics that lead to shareholder activism and analyzes the effects of activism on target firm governance structure, shareholder wealth, and operating performance for the 51 firms targeted by CalPERS over the 1987-93 period. Firm size and level of institutional holdings are found to be positively related to the probability of being targeted, and 72 percent of firms targeted after 1988 adopt proposed changes or make changes resulting in a settlement with CalPERS. Shareholder wealth increases for firms that adopt or settle and decreases for firms that resist. No statistically significant change in operating performance is found. (Reprinted by permission of the publisher.)

Author: Smith, Michael P.
Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 1996
Pension Funds & Benefit Plans, Research, Investments, Pension funds, Institutional investments, Stockholders' derivative actions, Shareholder lawsuits, California Public Employees Retirement System

User Contributions:

Comment about this article or add new information about this topic:

CAPTCHA


Why do firms use incentives that have no incentive effects?

Article Abstract:

A study is conducted on the efficacy of employee stock option plans used by firms, which yield no reward to the firms. A model that explains the alternative pay plans and financial instruments is also designed.

Author: Oyer, Paul
Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2004
Stock Ownership Plans, Employee-Owned Corps, Employee stock ownership plans, Incentive stock options

User Contributions:

Comment about this article or add new information about this topic:

CAPTCHA


Why do firms use incentives that have no incentive effects?

Article Abstract:

A study is conducted on the efficacy of stock option plans used by firms, which yield no reward to the firms. A model that explains the alternative pay plans and financial instruments is also designed.

Author: Oyer, Paul
Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2004
Methods, Stock options, Financial analysis

User Contributions:

Comment about this article or add new information about this topic:

CAPTCHA


Subjects list: United States, Analysis, Financial instruments
Similar abstracts:
  • Abstracts: Why do executives serve as non-executives? Pre - Cadbury evidence from UK non-financial companies. The impact of foreign board membership on the firm value
  • Abstracts: How informed are actively trading institutional investors? Evidence from their trading behavior before a break in a string of consecutive earnings increases
  • Abstracts: The impact of firm specific news on implied volatilities. A new approach to modeling the dynamics of implied distributions: Theory and evidence from the S&P 500 options
  • Abstracts: Wrist postures while keyboarding: effects of a negative slope keyboard system and full motion forearm supports
  • Abstracts: Feature approaches to suspect identification: effect of multiple raters on system performance. Effective affective user interface design in games
This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.
Some parts © 2025 Advameg, Inc.